Wells Fargo & Company Has Lowered Expectations for PTC Therapeutics (NASDAQ:PTCT) Stock Price

PTC Therapeutics (NASDAQ:PTCT) had its price target dropped by investment analysts at Wells Fargo & Company from $79.00 to $73.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 49.22% from the stock’s previous close.

Several other equities analysts have also commented on PTCT. Royal Bank Of Canada reiterated an “outperform” rating and issued a $63.00 price target (up from $60.00) on shares of PTC Therapeutics in a research note on Friday, August 8th. Cowen reaffirmed a “hold” rating on shares of PTC Therapeutics in a research report on Friday, August 8th. UBS Group lifted their price target on shares of PTC Therapeutics from $71.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. Barclays upped their price objective on shares of PTC Therapeutics from $42.00 to $46.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 29th. Finally, Cantor Fitzgerald raised their price objective on PTC Therapeutics from $112.00 to $120.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, PTC Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $69.15.

PTC Therapeutics Stock Up 0.1%

Shares of PTCT stock opened at $48.92 on Wednesday. The firm has a 50 day moving average of $48.87 and a two-hundred day moving average of $49.03. The stock has a market capitalization of $3.89 billion, a PE ratio of 7.02 and a beta of 0.54. PTC Therapeutics has a 52 week low of $30.41 and a 52 week high of $58.38.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.83) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.07) by $0.24. The company had revenue of $178.88 million during the quarter, compared to the consensus estimate of $173.01 million. PTC Therapeutics had a net margin of 35.65% and a negative return on equity of 106.31%. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.29) earnings per share. PTC Therapeutics has set its FY 2025 guidance at EPS. Analysts expect that PTC Therapeutics will post -4.52 EPS for the current fiscal year.

Insider Activity at PTC Therapeutics

In other news, CEO Matthew B. Klein sold 10,739 shares of the firm’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $51.74, for a total value of $555,635.86. Following the completion of the sale, the chief executive officer owned 337,767 shares in the company, valued at approximately $17,476,064.58. This trade represents a 3.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Pierre Gravier sold 2,516 shares of PTC Therapeutics stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $49.46, for a total transaction of $124,441.36. Following the completion of the sale, the chief financial officer directly owned 71,920 shares in the company, valued at approximately $3,557,163.20. The trade was a 3.38% decrease in their position. The disclosure for this sale can be found here. 5.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PTC Therapeutics

A number of institutional investors have recently added to or reduced their stakes in PTCT. Wealth Enhancement Advisory Services LLC purchased a new position in shares of PTC Therapeutics during the 1st quarter worth approximately $595,000. Allspring Global Investments Holdings LLC acquired a new position in PTC Therapeutics during the first quarter worth $524,000. Sector Gamma AS raised its position in PTC Therapeutics by 41.4% in the first quarter. Sector Gamma AS now owns 92,250 shares of the biopharmaceutical company’s stock worth $4,701,000 after acquiring an additional 27,000 shares in the last quarter. Deutsche Bank AG lifted its holdings in PTC Therapeutics by 262.1% in the first quarter. Deutsche Bank AG now owns 341,724 shares of the biopharmaceutical company’s stock valued at $17,414,000 after acquiring an additional 247,346 shares during the period. Finally, Cerity Partners LLC acquired a new stake in PTC Therapeutics in the first quarter valued at $641,000.

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.