PTC Therapeutics, Inc. (NASDAQ:PTCT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) have received an average rating of “Moderate Buy” from the seventeen ratings firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and ten have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $75.40.

Several equities research analysts recently commented on PTCT shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $118.00 price target on shares of PTC Therapeutics in a report on Wednesday, September 3rd. Royal Bank Of Canada upped their target price on PTC Therapeutics from $70.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, November 5th. Barclays lifted their price target on PTC Therapeutics from $46.00 to $68.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 5th. Weiss Ratings reissued a “hold (c)” rating on shares of PTC Therapeutics in a research report on Thursday, November 13th. Finally, Morgan Stanley cut their price objective on shares of PTC Therapeutics from $76.00 to $71.00 and set an “overweight” rating for the company in a research report on Wednesday, August 20th.

Insider Activity

In other news, Director Allan Steven Jacobson sold 12,000 shares of PTC Therapeutics stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $65.00, for a total transaction of $780,000.00. Following the sale, the director owned 17,451 shares of the company’s stock, valued at approximately $1,134,315. The trade was a 40.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Neil Gregory Almstead sold 55,000 shares of the firm’s stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $66.05, for a total value of $3,632,750.00. Following the sale, the insider directly owned 100,625 shares of the company’s stock, valued at approximately $6,646,281.25. This trade represents a 35.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 261,995 shares of company stock worth $16,547,129 over the last quarter. 5.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. 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 acquiring an additional 236 shares during the last quarter. Optiver Holding B.V. raised its position in PTC Therapeutics by 96.5% in the third quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 249 shares during the period. Comerica Bank lifted its stake in PTC Therapeutics by 868.5% during the third quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 469 shares in the last quarter. Quantbot Technologies LP boosted its position in shares of PTC Therapeutics by 545.5% during the first quarter. Quantbot Technologies LP now owns 652 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 551 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in shares of PTC Therapeutics by 84.2% in the first 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.

PTC Therapeutics Stock Up 1.4%

Shares of PTCT opened at $76.69 on Wednesday. PTC Therapeutics has a 52-week low of $35.95 and a 52-week high of $77.46. The stock has a market cap of $6.16 billion, a PE ratio of 11.00 and a beta of 0.60. The firm’s fifty day moving average is $66.02 and its two-hundred day moving average is $54.90.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.19) by $1.39. PTC Therapeutics had a net margin of 35.65% and a negative return on equity of 106.31%. The company had revenue of $211.01 million during the quarter, compared to analysts’ expectations of $177.42 million. During the same quarter 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.

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.