PTC Therapeutics, Inc. (NASDAQ:PTCT) Receives $98.50 Consensus Target Price from Analysts

PTC Therapeutics, Inc. (NASDAQ:PTCT) has been given a consensus rating of “Moderate Buy” by the fifteen brokerages that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $98.50.

PTCT has been the subject of several research analyst reports. Royal Bank Of Canada raised their price target on shares of PTC Therapeutics from $82.00 to $85.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 7th. Citigroup upgraded PTC Therapeutics from a “neutral” rating to a “buy” rating and upped their price objective for the company from $75.00 to $108.00 in a research note on Tuesday, June 9th. Weiss Ratings lowered PTC Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday. Zacks Research downgraded PTC Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. Finally, Cantor Fitzgerald boosted their target price on PTC Therapeutics from $124.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th.

Insider Buying and Selling

In related news, CEO Matthew Klein sold 10,292 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $68.57, for a total value of $705,722.44. Following the sale, the chief executive officer directly owned 383,868 shares in the company, valued at approximately $26,321,828.76. The trade was a 2.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Mary Smith sold 15,834 shares of the stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $90.00, for a total transaction of $1,425,060.00. Following the transaction, the director owned 21,813 shares of the company’s stock, valued at $1,963,170. This represents a 42.06% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 186,418 shares of company stock worth $15,129,969 in the last quarter. 5.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PTC Therapeutics

Several institutional investors have recently made changes to their positions in PTCT. BlackRock Inc. bought a new stake in shares of PTC Therapeutics during the 2nd quarter valued at $1,139,089,000. Jupiter Topco LLC purchased a new stake in PTC Therapeutics during the 2nd quarter worth about $590,182,000. Janus Henderson Group PLC boosted its stake in PTC Therapeutics by 48.3% in the 1st quarter. Janus Henderson Group PLC now owns 7,193,433 shares of the biopharmaceutical company’s stock worth $489,997,000 after purchasing an additional 2,342,101 shares during the period. Wellington Management Group LLP boosted its stake in PTC Therapeutics by 4.7% in the 2nd quarter. Wellington Management Group LLP now owns 4,128,273 shares of the biopharmaceutical company’s stock worth $336,743,000 after purchasing an additional 185,663 shares during the period. Finally, Geode Capital Management LLC grew its holdings in PTC Therapeutics by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 2,016,062 shares of the biopharmaceutical company’s stock valued at $153,164,000 after buying an additional 65,184 shares in the last quarter.

PTC Therapeutics Price Performance

Shares of PTC Therapeutics stock opened at $65.37 on Tuesday. The firm has a market cap of $5.46 billion, a PE ratio of -112.71, a P/E/G ratio of 2.02 and a beta of 0.55. PTC Therapeutics has a 1 year low of $57.74 and a 1 year high of $90.87. The stock has a fifty day moving average price of $72.27 and a 200-day moving average price of $72.10.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.68. PTC Therapeutics had a negative net margin of 3.80% and a negative return on equity of 362.45%. The company had revenue of $360.52 million for the quarter, compared to the consensus estimate of $298.63 million. During the same period in the previous year, the firm earned ($0.83) EPS. The firm’s quarterly revenue was up 101.5% on a year-over-year basis. As a group, equities analysts anticipate that PTC Therapeutics will post 1.17 EPS for the current fiscal year.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for rare diseases. The company uses technologies involving RNA biology, gene therapy and small-molecule drug discovery to address conditions with limited treatment options, including rare neurological and metabolic disorders.

PTC’s commercial portfolio has included Translarna (ataluren), an investigational treatment in some markets for Duchenne muscular dystrophy associated with a nonsense mutation, and Emflaza (deflazacort), a corticosteroid approved in the United States for Duchenne muscular dystrophy.