PTC Therapeutics (NASDAQ:PTCT) Upgraded at UBS Group

PTC Therapeutics (NASDAQ:PTCT) was upgraded by UBS Group to a “strong-buy” rating in a report released on Wednesday, Zacks reports.

A number of other research analysts have also recently commented on PTCT. Morgan Stanley raised their target price on PTC Therapeutics from $93.00 to $104.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Wells Fargo & Company raised their price objective on PTC Therapeutics from $106.00 to $109.00 and gave the company an “overweight” rating in a research report on Thursday, August 13th. Royal Bank Of Canada dropped their target price on shares of PTC Therapeutics from $85.00 to $75.00 and set a “sector perform” rating on the stock in a report on Wednesday, October 7th. Weiss Ratings raised shares of PTC Therapeutics from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, October 8th. Finally, Cantor Fitzgerald upped their target price on shares of PTC Therapeutics from $130.00 to $137.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $95.07.

PTC Therapeutics Stock Performance

Shares of NASDAQ PTCT traded down $1.75 during mid-day trading on Wednesday, hitting $59.24. The stock had a trading volume of 788,962 shares, compared to its average volume of 1,319,208. The firm has a market cap of $4.94 billion, a P/E ratio of -102.14, a price-to-earnings-growth ratio of 1.84 and a beta of 0.49. PTC Therapeutics has a 1 year low of $58.80 and a 1 year high of $90.87. The business has a 50 day moving average price of $67.41 and a two-hundred day moving average price of $71.73.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.68. The business had revenue of $360.52 million during the quarter, compared to analysts’ expectations of $298.63 million. During the same period in the previous year, the business earned ($0.83) EPS. The business’s revenue was up 101.5% compared to the same quarter last year. Equities research analysts predict that PTC Therapeutics will post 1.19 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Mark Boulding sold 435 shares of the firm’s stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $64.16, for a total transaction of $27,909.60. Following the completion of the transaction, the vice president owned 105,272 shares of the company’s stock, valued at $6,754,251.52. This trade represents a 0.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Glenn Steele, Jr. sold 12,000 shares of PTC Therapeutics stock in a transaction on Wednesday, September 30th. The shares were sold at an average price of $65.16, for a total value of $781,920.00. Following the transaction, the director owned 22,500 shares of the company’s stock, valued at $1,466,100. The trade was a 34.78% 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 77,370 shares of company stock worth $5,322,261 in the last 90 days. Insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On PTC Therapeutics

A number of hedge funds have recently bought and sold shares of PTCT. BlackRock Inc. bought a new stake in shares of PTC Therapeutics during the second quarter valued at approximately $1,139,089,000. Jupiter Topco LLC purchased a new position in shares of PTC Therapeutics in the second quarter worth $590,182,000. Janus Henderson Group PLC lifted its holdings in shares of PTC Therapeutics by 48.3% during the first quarter. Janus Henderson Group PLC now owns 7,193,433 shares of the biopharmaceutical company’s stock valued at $489,997,000 after purchasing an additional 2,342,101 shares in the last quarter. William Blair Investment Management LLC bought a new position in shares of PTC Therapeutics during the second quarter valued at $140,520,000. Finally, Bank of America Corp DE bought a new position in shares of PTC Therapeutics during the second quarter valued at $118,462,000.

About PTC Therapeutics

PTC Therapeutics, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for rare diseases. Its research programs use technologies designed to address genetic and molecular causes of disease, including RNA biology, protein translation and gene therapy.

The company’s commercial portfolio includes Emflaza (deflazacort), a corticosteroid approved in the United States to treat Duchenne muscular dystrophy, and Upstaza (eladocagene exuparvovec), a gene therapy for aromatic L-amino acid decarboxylase deficiency in eligible patients.