PTC Therapeutics (NASDAQ:PTCT) Stock Price Expected to Rise, Cantor Fitzgerald Analyst Says

PTC Therapeutics (NASDAQ:PTCT) had its target price upped by equities research analysts at Cantor Fitzgerald from $112.00 to $120.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price indicates a potential upside of 135.57% from the company’s previous close. Cantor Fitzgerald also issued estimates for PTC Therapeutics’ FY2025 earnings at $8.16 EPS.

Several other brokerages also recently commented on PTCT. Barclays reduced their target price on PTC Therapeutics from $56.00 to $42.00 and set an “equal weight” rating on the stock in a report on Thursday, May 8th. Truist Financial started coverage on PTC Therapeutics in a report on Tuesday, June 17th. They issued a “buy” rating and a $80.00 target price on the stock. Citigroup reissued a “neutral” rating and issued a $50.00 target price (up from $40.00) on shares of PTC Therapeutics in a report on Monday. Wells Fargo & Company boosted their target price on PTC Therapeutics from $74.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. reduced their price objective on PTC Therapeutics from $75.00 to $67.00 and set an “overweight” rating on the stock in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $69.38.

PTC Therapeutics Trading Up 3.3%

PTCT stock opened at $50.94 on Tuesday. The firm has a market cap of $4.04 billion, a P/E ratio of 7.82 and a beta of 0.50. PTC Therapeutics has a 1-year low of $29.01 and a 1-year high of $58.38. The business’s 50 day moving average is $48.95 and its 200-day moving average is $48.58.

PTC Therapeutics (NASDAQ:PTCT) last announced its earnings results on Tuesday, May 6th. The biopharmaceutical company reported $10.04 EPS for the quarter, topping the consensus estimate of $0.85 by $9.19. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $437.16 million. PTC Therapeutics had a negative return on equity of 78.56% and a net margin of 33.56%. PTC Therapeutics’s revenue was down 9.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.20) EPS. Sell-side analysts forecast that PTC Therapeutics will post -4.52 EPS for the current year.

Insiders Place Their Bets

In other news, VP Mark Elliott Boulding sold 1,929 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $46.18, for a total value of $89,081.22. Following the transaction, the vice president owned 103,901 shares of the company’s stock, valued at $4,798,148.18. This represents a 1.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Pierre Gravier sold 2,516 shares of the stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $49.46, for a total value of $124,441.36. Following the completion of the transaction, the chief financial officer directly owned 71,920 shares in the company, valued at approximately $3,557,163.20. This trade represents a 3.38% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,328 shares of company stock worth $254,158. 5.50% of the stock is currently owned by company insiders.

Institutional Trading of PTC Therapeutics

Large investors have recently made changes to their positions in the company. Sterling Capital Management LLC increased its position in shares of PTC Therapeutics by 424.4% in the 4th quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 522 shares in the last quarter. Quantbot Technologies LP increased its position in shares of PTC Therapeutics by 545.5% in the 1st quarter. Quantbot Technologies LP now owns 652 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 551 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of PTC Therapeutics by 84.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 700 shares of the biopharmaceutical company’s stock valued at $36,000 after buying an additional 320 shares in the last quarter. GAMMA Investing LLC increased its position in shares of PTC Therapeutics by 86.3% in the 1st quarter. GAMMA Investing LLC now owns 952 shares of the biopharmaceutical company’s stock valued at $49,000 after buying an additional 441 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of PTC Therapeutics in the 1st quarter valued at $61,000.

About PTC Therapeutics

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders in the United States and internationally. The company offers Translarna and Emflaza for the treatment of Duchenne muscular dystrophy; Upstaza to treat aromatic l-amino acid decarboxylas (AADC) deficiency, a central nervous system disorder; Tegsedi and Waylivra for the treatment of rare diseases; and Evrysdi to treat spinal muscular atrophy (SMA) in adults and children.