PTC Therapeutics (PTCT) – Analysts’ Recent Ratings Updates

Several brokerages have updated their recommendations and price targets on shares of PTC Therapeutics (NASDAQ: PTCT) in the last few weeks:

• 5/21/2024 – PTC Therapeutics had its price target raised by analysts at Citigroup Inc. from $18.00 to $26.00. They now have a “sell” rating on the stock.
• 5/21/2024 – PTC Therapeutics had its price target raised by analysts at The Goldman Sachs Group, Inc. from $18.00 to $32.00. They now have a “sell” rating on the stock.
• 5/21/2024 – PTC Therapeutics had its price target raised by analysts at JPMorgan Chase & Co. from $43.00 to $53.00. They now have an “overweight” rating on the stock.
• 5/20/2024 – PTC Therapeutics was upgraded by analysts at Raymond James from an “underperform” rating to a “market perform” rating.
• 5/20/2024 – PTC Therapeutics had its price target raised by analysts at Jefferies Financial Group Inc. from $35.00 to $46.00. They now have a “buy” rating on the stock.
• 4/29/2024 – PTC Therapeutics was upgraded by analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating. They now have a $30.00 price target on the stock, up previously from $28.00.
• 4/12/2024 – PTC Therapeutics had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $45.00 price target on the stock.

PTC Therapeutics Stock Performance

Shares of PTC Therapeutics stock traded down $1.51 during trading on Thursday, hitting $37.13. 841,876 shares of the stock were exchanged, compared to its average volume of 973,263. The stock has a market cap of $2.85 billion, a PE ratio of -4.83 and a beta of 0.63. The stock’s fifty day moving average is $29.79 and its 200 day moving average is $27.41. PTC Therapeutics, Inc. has a 12 month low of $17.53 and a 12 month high of $48.63.

PTC Therapeutics (NASDAQ:PTCT) last announced its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.20) EPS for the quarter, topping the consensus estimate of ($1.21) by $0.01. The firm had revenue of $210.12 million during the quarter, compared to analyst estimates of $160.27 million. Sell-side analysts anticipate that PTC Therapeutics, Inc. will post -5.27 EPS for the current fiscal year.

Insider Buying and Selling

In other PTC Therapeutics news, CEO Matthew B. Klein sold 3,361 shares of the firm’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $24.89, for a total value of $83,655.29. Following the completion of the sale, the chief executive officer now owns 225,807 shares in the company, valued at approximately $5,620,336.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders have sold 4,849 shares of company stock valued at $124,107. 5.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On PTC Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Hexagon Capital Partners LLC grew its position in PTC Therapeutics by 132.0% in the fourth quarter. Hexagon Capital Partners LLC now owns 979 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 557 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of PTC Therapeutics during the first quarter worth about $46,000. Nisa Investment Advisors LLC grew its holdings in shares of PTC Therapeutics by 317.0% during the third quarter. Nisa Investment Advisors LLC now owns 2,656 shares of the biopharmaceutical company’s stock worth $60,000 after purchasing an additional 2,019 shares during the last quarter. Headlands Technologies LLC grew its holdings in shares of PTC Therapeutics by 248.0% during the fourth quarter. Headlands Technologies LLC now owns 4,684 shares of the biopharmaceutical company’s stock worth $129,000 after purchasing an additional 3,338 shares during the last quarter. Finally, Lazard Asset Management LLC grew its holdings in shares of PTC Therapeutics by 268.9% during the first quarter. Lazard Asset Management LLC now owns 6,504 shares of the biopharmaceutical company’s stock worth $188,000 after purchasing an additional 4,741 shares during the last quarter.

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.