PTC Therapeutics, Inc. (NASDAQ:PTCT) Receives Average Rating of “Hold” from Analysts

PTC Therapeutics, Inc. (NASDAQ:PTCT) has earned an average recommendation of “Hold” from the seventeen analysts that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $76.00.

Several equities research analysts have weighed in on the company. TD Cowen increased their target price on PTC Therapeutics from $50.00 to $63.00 and gave the stock a “hold” rating in a research report on Wednesday, November 5th. Wall Street Zen upgraded shares of PTC Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, January 3rd. Royal Bank Of Canada lowered PTC Therapeutics from an “outperform” rating to a “sector perform” rating and lifted their target price for the stock from $82.00 to $91.00 in a report on Monday, December 1st. Jefferies Financial Group lifted their price target on shares of PTC Therapeutics from $63.00 to $77.00 and gave the stock a “buy” rating in a research report on Tuesday, October 28th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of PTC Therapeutics in a research note on Monday, December 29th.

Insider Activity

In related news, Director Allan Steven Jacobson sold 14,199 shares of the stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $83.55, for a total value of $1,186,326.45. Following the completion of the sale, the director directly owned 17,451 shares of the company’s stock, valued at approximately $1,458,031.05. This represents a 44.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Neil Gregory Almstead sold 71,928 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $83.44, for a total transaction of $6,001,672.32. Following the sale, the insider owned 100,625 shares of the company’s stock, valued at approximately $8,396,150. This represents a 41.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 260,561 shares of company stock valued at $20,585,340 in the last ninety days. Corporate insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On PTC Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AlphaQuest LLC boosted its stake in PTC Therapeutics by 337.7% during the 2nd quarter. AlphaQuest LLC now owns 7,909 shares of the biopharmaceutical company’s stock valued at $386,000 after purchasing an additional 6,102 shares during the period. Vise Technologies Inc. bought a new position in shares of PTC Therapeutics during the 2nd quarter worth about $486,000. Prudential Financial Inc. boosted its position in shares of PTC Therapeutics by 35.5% during the 2nd quarter. Prudential Financial Inc. now owns 84,250 shares of the biopharmaceutical company’s stock valued at $4,115,000 after acquiring an additional 22,060 shares in the last quarter. Hussman Strategic Advisors Inc. raised its holdings in shares of PTC Therapeutics by 200.0% in the 2nd quarter. Hussman Strategic Advisors Inc. now owns 63,000 shares of the biopharmaceutical company’s stock worth $3,077,000 after buying an additional 42,000 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its holdings in shares of PTC Therapeutics by 458.8% during the second quarter. Y Intercept Hong Kong Ltd now owns 27,832 shares of the biopharmaceutical company’s stock valued at $1,359,000 after acquiring an additional 22,851 shares during the period.

PTC Therapeutics Price Performance

Shares of PTCT stock opened at $77.24 on Thursday. The company’s fifty day moving average price is $76.26 and its two-hundred day moving average price is $62.43. The firm has a market capitalization of $6.20 billion, a P/E ratio of 9.02 and a beta of 0.49. PTC Therapeutics has a 12 month low of $35.95 and a 12 month high of $87.50.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of ($1.19) by $1.39. PTC Therapeutics had a net margin of 42.25% and a negative return on equity of 194.11%. The business had revenue of $211.01 million during the quarter, compared to the consensus estimate of $177.42 million. During the same quarter last year, the company earned ($1.39) earnings per share. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, sell-side analysts anticipate that PTC Therapeutics will post -4.52 EPS for the current year.

About PTC Therapeutics

PTC Therapeutics, Inc is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule and biologic therapies for the treatment of rare genetic disorders. Since its founding in 1998, PTC has dedicated its efforts to addressing high unmet medical needs by targeting underlying genetic causes of disease. The company’s research platform emphasizes mechanisms such as nonsense suppression and RNA modulation, enabling the development of novel treatments for conditions with limited therapeutic options.

Among PTC’s approved products is Translarna (ataluren), a first-in-class therapy designed to treat nonsense mutation Duchenne muscular dystrophy in select markets.