PTC Therapeutics (NASDAQ:PTCT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of PTC Therapeutics (NASDAQ:PTCT) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.

Several other equities analysts have also commented on PTCT. Cowen reaffirmed a “hold” rating on shares of PTC Therapeutics in a research note on Wednesday, November 5th. TD Cowen raised their target price on PTC Therapeutics from $50.00 to $63.00 and gave the company a “hold” rating in a report on Wednesday, November 5th. Barclays boosted their price target on shares of PTC Therapeutics from $46.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 5th. Wells Fargo & Company raised their price objective on shares of PTC Therapeutics from $73.00 to $93.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Finally, The Goldman Sachs Group upped their target price on shares of PTC Therapeutics from $44.00 to $50.00 and gave the stock a “sell” rating in a research note on Wednesday, November 5th. Nine research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $76.00.

PTC Therapeutics Stock Performance

Shares of PTC Therapeutics stock opened at $76.76 on Friday. PTC Therapeutics has a one year low of $35.95 and a one year high of $87.50. The company has a market cap of $6.16 billion, a price-to-earnings ratio of 8.97 and a beta of 0.49. The business’s 50 day moving average price is $75.87 and its 200 day moving average price is $62.13.

PTC Therapeutics (NASDAQ:PTCT) last issued its earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.19) by $1.39. PTC Therapeutics had a negative return on equity of 194.11% and a net margin of 42.25%.The company had revenue of $211.01 million during the quarter, compared to analysts’ expectations of $177.42 million. During the same period in the prior year, the business earned ($1.39) EPS. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. On average, analysts predict that PTC Therapeutics will post -4.52 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Allan Steven Jacobson sold 14,199 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $83.55, for a total value of $1,186,326.45. Following the sale, the director directly owned 17,451 shares in the company, valued at approximately $1,458,031.05. This trade represents a 44.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matthew B. Klein sold 8,089 shares of the business’s stock in a transaction on Tuesday, December 30th. The stock was sold at an average price of $76.64, for a total transaction of $619,940.96. Following the transaction, the chief executive officer owned 341,875 shares of the company’s stock, valued at approximately $26,201,300. The trade was a 2.31% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 245,561 shares of company stock worth $19,442,160. Corporate insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On PTC Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Smartleaf Asset Management LLC boosted its holdings in PTC Therapeutics by 101.3% in the third quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 236 shares in the last quarter. Optiver Holding B.V. boosted its holdings in shares of PTC Therapeutics by 96.5% in the 3rd quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 249 shares in the last quarter. Comerica Bank boosted its holdings in shares of PTC Therapeutics by 868.5% in the 3rd quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 469 shares in the last quarter. IFP Advisors Inc grew its position in shares of PTC Therapeutics by 68.1% in the 3rd quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock valued at $47,000 after buying an additional 310 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in PTC Therapeutics by 42.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 995 shares of the biopharmaceutical company’s stock worth $49,000 after acquiring an additional 295 shares in the last quarter.

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.