PTC Therapeutics, Inc. (NASDAQ:PTCT) Receives $80.93 Consensus Price Target from Analysts

PTC Therapeutics, Inc. (NASDAQ:PTCT) has been given a consensus recommendation of “Moderate Buy” by the sixteen ratings firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $80.9333.

PTCT has been the subject of several research reports. Bank of America reduced their target price on PTC Therapeutics from $97.00 to $93.00 and set a “buy” rating for the company in a research note on Friday, February 20th. Cantor Fitzgerald reissued an “overweight” rating on shares of PTC Therapeutics in a research report on Friday, February 20th. 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 report on Wednesday, November 5th. Wall Street Zen cut PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Finally, Citigroup upped their price target on PTC Therapeutics from $50.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th.

PTC Therapeutics Price Performance

Shares of NASDAQ:PTCT opened at $64.39 on Friday. The company has a market capitalization of $5.33 billion, a price-to-earnings ratio of 8.32 and a beta of 0.51. The business’s 50-day moving average is $73.67 and its 200-day moving average is $69.16. PTC Therapeutics has a 1 year low of $35.95 and a 1 year high of $87.50.

PTC Therapeutics (NASDAQ:PTCT) last released its earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.67) EPS for the quarter, missing the consensus estimate of ($0.21) by ($1.46). The business had revenue of $164.68 million for the quarter, compared to analyst estimates of $281.45 million. PTC Therapeutics had a negative return on equity of 362.45% and a net margin of 39.44%.The company’s revenue for the quarter was down 22.7% on a year-over-year basis. During the same period in the prior year, the business earned ($0.85) EPS. Analysts anticipate that PTC Therapeutics will post -4.52 EPS for the current year.

Insider Transactions at PTC Therapeutics

In related news, VP Mark Elliott Boulding sold 3,019 shares of PTC Therapeutics stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $69.48, for a total transaction of $209,760.12. Following the sale, the vice president directly owned 105,212 shares in the company, valued at approximately $7,310,129.76. This trade represents a 2.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Eric Pauwels sold 3,019 shares of the company’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $69.36, for a total value of $209,397.84. Following the completion of the transaction, the insider owned 77,122 shares of the company’s stock, valued at $5,349,181.92. This trade represents a 3.77% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 163,604 shares of company stock worth $12,289,056. 5.50% of the stock is owned by insiders.

Institutional Trading of PTC Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Mcguire Capital Advisors Inc. bought a new stake in shares of PTC Therapeutics in the fourth quarter valued at $397,000. Invesco Ltd. increased its position in shares of PTC Therapeutics by 38.7% during the fourth quarter. Invesco Ltd. now owns 434,285 shares of the biopharmaceutical company’s stock valued at $32,988,000 after buying an additional 121,228 shares during the period. Summit Global Investments purchased a new stake in shares of PTC Therapeutics in the fourth quarter worth about $242,000. State of Tennessee Department of Treasury bought a new position in shares of PTC Therapeutics in the fourth quarter valued at approximately $2,465,000. Finally, Mackenzie Financial Corp boosted its position in shares of PTC Therapeutics by 17.4% in the fourth quarter. Mackenzie Financial Corp now owns 236,909 shares of the biopharmaceutical company’s stock valued at $18,015,000 after acquiring an additional 35,117 shares during the period.

PTC Therapeutics Company Profile

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.