Wall Street Zen Upgrades PTC Therapeutics (NASDAQ:PTCT) to Buy

PTC Therapeutics (NASDAQ:PTCT) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Several other equities analysts also recently issued reports on PTCT. Wells Fargo & Company raised their price target on shares of PTC Therapeutics from $73.00 to $93.00 and gave the company an “overweight” rating in a research note on Wednesday. Robert W. Baird set a $70.00 target price on PTC Therapeutics in a research report on Friday, August 8th. Truist Financial upped their price target on PTC Therapeutics from $80.00 to $86.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th. Weiss Ratings restated a “hold (c-)” rating on shares of PTC Therapeutics in a research report on Wednesday, October 8th. Finally, Royal Bank Of Canada increased their target price on shares of PTC Therapeutics from $70.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday. Ten research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, PTC Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $75.40.

PTC Therapeutics Trading Down 1.1%

Shares of PTC Therapeutics stock opened at $71.78 on Friday. The firm has a market capitalization of $5.70 billion, a PE ratio of 10.30 and a beta of 0.60. The firm’s 50 day moving average is $63.31 and its 200 day moving average is $53.60. PTC Therapeutics has a 1 year low of $35.95 and a 1 year high of $73.98.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of ($1.19) by $1.39. PTC Therapeutics had a negative return on equity of 106.31% and a net margin of 35.65%.The company had revenue of $211.01 million during the quarter, compared to analysts’ expectations of $177.42 million. During the same period in the prior year, the company earned ($1.39) EPS. PTC Therapeutics’s revenue was up 7.2% compared to the same quarter last year. PTC Therapeutics has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that PTC Therapeutics will post -4.52 earnings per share for the current year.

Insider Activity at PTC Therapeutics

In related news, insider Neil Gregory Almstead sold 55,000 shares of the stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $66.05, for a total transaction of $3,632,750.00. Following the transaction, the insider directly owned 100,625 shares of the company’s stock, valued at $6,646,281.25. This represents a 35.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Mark Elliott Boulding sold 3,375 shares of the company’s stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $63.43, for a total transaction of $214,076.25. Following the transaction, the vice president owned 103,901 shares in the company, valued at $6,590,440.43. This represents a 3.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 254,662 shares of company stock worth $16,000,821. 5.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. increased its holdings in shares of PTC Therapeutics by 3.0% during the second quarter. Ameritas Investment Partners Inc. now owns 7,936 shares of the biopharmaceutical company’s stock valued at $388,000 after acquiring an additional 231 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of PTC Therapeutics by 101.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 236 shares in the last quarter. PNC Financial Services Group Inc. grew its position in PTC Therapeutics by 42.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 995 shares of the biopharmaceutical company’s stock valued at $49,000 after purchasing an additional 295 shares during the period. Xponance Inc. increased its stake in PTC Therapeutics by 5.2% during the 1st quarter. Xponance Inc. now owns 6,372 shares of the biopharmaceutical company’s stock valued at $325,000 after purchasing an additional 314 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in PTC Therapeutics by 2.0% during the 3rd quarter. Arizona State Retirement System now owns 21,101 shares of the biopharmaceutical company’s stock valued at $1,295,000 after purchasing an additional 406 shares in the last quarter.

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.