PTC Therapeutics, Inc. (NASDAQ:PTCT) Receives $69.85 Consensus PT from Analysts

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) have received an average recommendation of “Moderate Buy” from the sixteen brokerages that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $70.1538.

A number of analysts have recently commented on the company. Cowen reaffirmed a “hold” rating on shares of PTC Therapeutics in a research note on Friday, August 8th. UBS Group boosted their price objective on PTC Therapeutics from $71.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th. Wells Fargo & Company boosted their price objective on PTC Therapeutics from $78.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, August 8th. Barclays boosted their price objective on PTC Therapeutics from $42.00 to $46.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 29th. Finally, JPMorgan Chase & Co. decreased their price objective on PTC Therapeutics from $75.00 to $67.00 and set an “overweight” rating for the company in a research report on Wednesday, May 7th.

Insiders Place Their Bets

In other news, CFO Pierre Gravier sold 2,516 shares of the company’s stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $49.46, for a total transaction of $124,441.36. Following the sale, the chief financial officer owned 71,920 shares in the company, valued at $3,557,163.20. This represents a 3.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Matthew B. Klein sold 10,739 shares of the company’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $51.74, for a total value of $555,635.86. Following the sale, the chief executive officer owned 337,767 shares in the company, valued at approximately $17,476,064.58. This represents a 3.08% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,138 shares of company stock valued at $720,713 in the last quarter. 5.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PTC Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Toronto Dominion Bank bought a new stake in PTC Therapeutics in the 4th quarter valued at $148,363,000. Driehaus Capital Management LLC bought a new stake in PTC Therapeutics in the 4th quarter valued at $46,993,000. Nuveen LLC bought a new stake in PTC Therapeutics in the 1st quarter valued at $51,427,000. Point72 Asset Management L.P. raised its stake in PTC Therapeutics by 150.6% in the 4th quarter. Point72 Asset Management L.P. now owns 1,443,362 shares of the biopharmaceutical company’s stock valued at $65,153,000 after acquiring an additional 867,502 shares during the period. Finally, Wellington Management Group LLP raised its stake in PTC Therapeutics by 13.2% in the 1st quarter. Wellington Management Group LLP now owns 5,419,172 shares of the biopharmaceutical company’s stock valued at $276,161,000 after acquiring an additional 632,049 shares during the period.

PTC Therapeutics Price Performance

Shares of PTCT stock opened at $48.17 on Monday. The stock has a market cap of $3.83 billion, a PE ratio of 6.91 and a beta of 0.54. The stock has a 50-day moving average of $49.16 and a 200-day moving average of $48.92. PTC Therapeutics has a one year low of $30.41 and a one year high of $58.38.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.83) EPS for the quarter, beating analysts’ consensus estimates of ($1.07) by $0.24. The company had revenue of $178.88 million during the quarter, compared to analysts’ expectations of $173.01 million. PTC Therapeutics had a negative return on equity of 106.31% and a net margin of 35.65%. PTC Therapeutics’s revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the business posted ($1.29) EPS. As a group, research analysts anticipate that PTC Therapeutics will post -4.52 earnings per share for the current year.

PTC Therapeutics Company Profile

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.