Analysts Set PTC Therapeutics, Inc. (NASDAQ:PTCT) Price Target at $80.67

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) have received a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $80.6667.

PTCT has been the subject of a number of research analyst reports. Citigroup increased their target price on shares of PTC Therapeutics from $50.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. Wall Street Zen upgraded PTC Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, January 3rd. TD Cowen restated a “hold” rating on shares of PTC Therapeutics in a research note on Thursday, January 29th. Royal Bank Of Canada lowered PTC Therapeutics from an “outperform” rating to a “sector perform” rating and upped their target price for the stock from $82.00 to $91.00 in a research report on Monday, December 1st. Finally, Jefferies Financial Group boosted their price target on PTC Therapeutics from $63.00 to $77.00 and gave the company a “buy” rating in a research note on Tuesday, October 28th.

Insiders Place Their Bets

In related news, insider Eric Pauwels sold 1,024 shares of the firm’s stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $78.70, for a total value of $80,588.80. Following the transaction, the insider directly owned 80,141 shares of the company’s stock, valued at approximately $6,307,096.70. This trade represents a 1.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Mark Elliott Boulding sold 2,314 shares of the stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $77.93, for a total value of $180,330.02. Following the transaction, the vice president owned 111,312 shares in the company, valued at approximately $8,674,544.16. This trade represents a 2.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 291,016 shares of company stock worth $23,050,330 in the last 90 days. 5.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PTCT. Smartleaf Asset Management LLC lifted its position in shares of PTC Therapeutics by 101.3% during the 3rd quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 236 shares during the last quarter. Optiver Holding B.V. increased its position in PTC Therapeutics by 96.5% in the 3rd quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock worth $31,000 after buying an additional 249 shares during the period. Comerica Bank lifted its holdings in shares of PTC Therapeutics by 868.5% during the third quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 469 shares during the last quarter. Salomon & Ludwin LLC bought a new stake in shares of PTC Therapeutics in the fourth quarter valued at approximately $41,000. Finally, IFP Advisors Inc boosted its position in shares of PTC Therapeutics by 68.1% in the third quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock valued at $47,000 after acquiring an additional 310 shares during the period.

PTC Therapeutics Trading Down 1.2%

Shares of PTCT stock opened at $73.91 on Monday. The company has a market capitalization of $5.93 billion, a price-to-earnings ratio of 8.63 and a beta of 0.48. PTC Therapeutics has a 1-year low of $35.95 and a 1-year high of $87.50. The stock’s fifty day simple moving average is $76.59 and its 200-day simple moving average is $66.15.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of ($1.19) by $1.39. The firm had revenue of $211.01 million during the quarter, compared to analyst estimates of $177.42 million. PTC Therapeutics had a negative return on equity of 194.11% and a net margin of 42.25%.The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the company posted ($1.39) EPS. On average, sell-side analysts predict that PTC Therapeutics will post -4.52 EPS for the current year.

About PTC Therapeutics

PTC Therapeutics, Inc is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule and biologic therapies for the treatment of rare genetic disorders. Since its founding in 1998, PTC has dedicated its efforts to addressing high unmet medical needs by targeting underlying genetic causes of disease. The company’s research platform emphasizes mechanisms such as nonsense suppression and RNA modulation, enabling the development of novel treatments for conditions with limited therapeutic options.

Among PTC’s approved products is Translarna (ataluren), a first-in-class therapy designed to treat nonsense mutation Duchenne muscular dystrophy in select markets.