PTC Therapeutics (NASDAQ:PTCT) Stock Price Expected to Rise, UBS Group Analyst Says

Key Points

• UBS Group has raised its price target for PTC Therapeutics (NASDAQ:PTCT) from $71.00 to $80.00, indicating a potential upside of 60.63% from the previous close, and maintains a "buy" rating on the stock.
• PTC Therapeutics reported $10.04 EPS for the quarter, significantly beating analysts' expectations of $0.85, although the company had a revenue decrease of 9.6% year-over-year.
• Various analysts have mixed ratings on PTC Therapeutics, with one sell, four hold, ten buy, and one strong buy rating, resulting in an overall average rating of "Moderate Buy."

PTC Therapeutics (NASDAQ:PTCT - Free Report) had its target price lifted by UBS Group from $71.00 to $80.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a buy rating on the biopharmaceutical company's stock.

A number of other research analysts have also issued reports on PTCT. JPMorgan Chase & Co. decreased their target price on PTC Therapeutics from $75.00 to $67.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Citigroup increased their target price on PTC Therapeutics from $40.00 to $50.00 and gave the company a "neutral" rating in a research report on Monday. Truist Financial began coverage on PTC Therapeutics in a research report on Tuesday, June 17th. They set a "buy" rating and a $80.00 target price on the stock. Robert W. Baird decreased their price objective on PTC Therapeutics from $70.00 to $66.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Finally, Wells Fargo & Company increased their price target on shares of PTC Therapeutics from $74.00 to $78.00 and gave the company an "overweight" rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $69.38.

PTC Therapeutics Trading Up 0.0%

PTC Therapeutics stock traded up $0.02 during mid-day trading on Tuesday, hitting $52.13. The company had a trading volume of 1,020,621 shares, compared to its average volume of 1,054,679. PTC Therapeutics has a 12-month low of $29.01 and a 12-month high of $58.38. The company's fifty day moving average is $49.08 and its 200-day moving average is $48.63. The company has a market capitalization of $4.13 billion, a price-to-earnings ratio of 8.01 and a beta of 0.50.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported $10.04 EPS for the quarter, topping the consensus estimate of $0.85 by $9.19. PTC Therapeutics had a negative return on equity of 78.56% and a net margin of 33.56%. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $437.16 million. During the same quarter in the prior year, the firm posted ($1.20) EPS. The business's quarterly revenue was down 9.6% compared to the same quarter last year. As a group, sell-side analysts expect that PTC Therapeutics will post -4.52 EPS for the current fiscal year.

Insider Activity at PTC Therapeutics

In related news, CFO Pierre Gravier sold 2,516 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $49.46, for a total transaction of $124,441.36. Following the completion of the sale, the chief financial officer owned 71,920 shares in the company, valued at $3,557,163.20. The trade was a 3.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Mark Elliott Boulding sold 883 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $46.02, for a total value of $40,635.66. Following the sale, the vice president owned 103,901 shares of the company's stock, valued at approximately $4,781,524.02. The trade was a 0.84% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,328 shares of company stock valued at $254,158. 5.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Sterling Capital Management LLC increased its holdings in shares of PTC Therapeutics by 424.4% in the fourth quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company's stock valued at $29,000 after purchasing an additional 522 shares during the period. Quantbot Technologies LP boosted its position in PTC Therapeutics by 545.5% during the first quarter. Quantbot Technologies LP now owns 652 shares of the biopharmaceutical company's stock worth $33,000 after purchasing an additional 551 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in PTC Therapeutics by 84.2% during the first quarter. PNC Financial Services Group Inc. now owns 700 shares of the biopharmaceutical company's stock worth $36,000 after purchasing an additional 320 shares in the last quarter. GAMMA Investing LLC boosted its position in PTC Therapeutics by 86.3% during the first quarter. GAMMA Investing LLC now owns 952 shares of the biopharmaceutical company's stock worth $49,000 after purchasing an additional 441 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of PTC Therapeutics in the first quarter valued at $61,000.

About PTC Therapeutics

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders in the United States and internationally. The company offers Translarna and Emflaza for the treatment of Duchenne muscular dystrophy; Upstaza to treat aromatic l-amino acid decarboxylas (AADC) deficiency, a central nervous system disorder; Tegsedi and Waylivra for the treatment of rare diseases; and Evrysdi to treat spinal muscular atrophy (SMA) in adults and children.