Brokerages Set PTC Therapeutics, Inc. (NASDAQ:PTCT) PT at $88.36

PTC Therapeutics, Inc. (NASDAQ:PTCT) has earned a consensus rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $88.3571.

Several analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of PTC Therapeutics from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Raymond James Financial assumed coverage on shares of PTC Therapeutics in a research note on Friday, April 10th. They issued an “outperform” rating and a $108.00 price objective on the stock. Wall Street Zen lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, February 21st. Royal Bank Of Canada raised their price objective on shares of PTC Therapeutics from $81.00 to $82.00 and gave the stock a “sector perform” rating in a report on Friday, May 8th. Finally, Morgan Stanley restated an “overweight” rating and issued a $94.00 price objective on shares of PTC Therapeutics in a research report on Friday, May 8th.

Insider Transactions at PTC Therapeutics

In other news, insider Neil Gregory Almstead sold 52,003 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $69.04, for a total value of $3,590,287.12. Following the completion of the sale, the insider directly owned 60,137 shares in the company, valued at approximately $4,151,858.48. The trade was a 46.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Mark Elliott Boulding sold 3,540 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $78.97, for a total transaction of $279,553.80. Following the transaction, the vice president directly owned 105,212 shares in the company, valued at approximately $8,308,591.64. The trade was a 3.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 142,604 shares of company stock worth $9,831,302. Corporate insiders own 5.50% of the company’s stock.

Institutional Trading of PTC Therapeutics

A number of institutional investors have recently made changes to their positions in PTCT. Smartleaf Asset Management LLC lifted its stake in shares of PTC Therapeutics by 101.3% in 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 period. PNC Financial Services Group Inc. lifted its position in shares of PTC Therapeutics by 8.5% during the first quarter. PNC Financial Services Group Inc. now owns 3,128 shares of the biopharmaceutical company’s stock worth $213,000 after purchasing an additional 244 shares during the last quarter. Allworth Financial LP lifted its position in shares of PTC Therapeutics by 63.8% during the fourth quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company’s stock worth $48,000 after purchasing an additional 247 shares during the last quarter. Optiver Holding B.V. raised its holdings in shares of PTC Therapeutics by 96.5% in the third quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock valued at $31,000 after acquiring an additional 249 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC raised its holdings in PTC Therapeutics by 5.6% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 4,963 shares of the biopharmaceutical company’s stock worth $377,000 after purchasing an additional 265 shares in the last quarter.

PTC Therapeutics Price Performance

Shares of NASDAQ PTCT opened at $71.47 on Wednesday. The company’s 50 day simple moving average is $68.57 and its 200 day simple moving average is $72.32. The firm has a market capitalization of $5.93 billion, a P/E ratio of -30.67, a P/E/G ratio of 13.56 and a beta of 0.53. PTC Therapeutics has a fifty-two week low of $43.17 and a fifty-two week high of $87.50.

PTC Therapeutics (NASDAQ:PTCT) last posted its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.42. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. The company had revenue of $272.55 million for the quarter, compared to analyst estimates of $217.42 million. During the same period last year, the business posted $10.04 earnings per share. The business’s revenue for the quarter was up 43.5% compared to the same quarter last year. Sell-side analysts expect that PTC Therapeutics will post 0.19 EPS for the current fiscal year.

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.