PTC Therapeutics, Inc. (NASDAQ:PTCT) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) have been given a consensus recommendation of “Moderate Buy” by the sixteen brokerages that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $80.9333.

Several equities research analysts recently weighed in on the company. Bank of America dropped their price target on PTC Therapeutics from $97.00 to $93.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Barclays restated an “overweight” rating and set a $120.00 target price on shares of PTC Therapeutics in a report on Monday. Citigroup increased their price target on shares of PTC Therapeutics from $50.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. Cantor Fitzgerald reissued an “overweight” rating on shares of PTC Therapeutics in a research report on Friday, February 20th. Finally, TD Cowen restated a “hold” rating on shares of PTC Therapeutics in a report on Thursday, January 29th.

PTC Therapeutics Price Performance

PTCT stock opened at $68.10 on Friday. PTC Therapeutics has a 1 year low of $35.95 and a 1 year high of $87.50. The firm has a 50-day moving average of $74.39 and a 200 day moving average of $68.44. The company has a market cap of $5.64 billion, a P/E ratio of 8.80 and a beta of 0.48.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($1.67) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($1.46). PTC Therapeutics had a net margin of 39.44% and a negative return on equity of 362.45%. The firm had revenue of $164.68 million for the quarter, compared to the consensus estimate of $281.45 million. During the same period in the previous year, the firm posted ($0.85) earnings per share. The business’s revenue was down 22.7% compared to the same quarter last year. On average, equities research analysts expect that PTC Therapeutics will post -4.52 earnings per share for the current fiscal year.

Insider Transactions at PTC Therapeutics

In other PTC Therapeutics news, CFO Pierre Gravier sold 2,992 shares of the business’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $69.36, for a total value of $207,525.12. Following the sale, the chief financial officer directly owned 87,318 shares of the company’s stock, valued at approximately $6,056,376.48. The trade was a 3.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Christine Marie Utter sold 2,494 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $69.36, for a total value of $172,983.84. Following the completion of the sale, the chief accounting officer directly owned 70,199 shares in the company, valued at approximately $4,869,002.64. This represents a 3.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 167,765 shares of company stock worth $12,617,737. Company insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On PTC Therapeutics

Hedge funds have recently bought and sold shares of the company. Jefferies Financial Group Inc. purchased a new stake in PTC Therapeutics during the 3rd quarter valued at about $97,252,000. Janus Henderson Group PLC lifted its stake in shares of PTC Therapeutics by 28.6% in the fourth quarter. Janus Henderson Group PLC now owns 4,851,332 shares of the biopharmaceutical company’s stock worth $368,587,000 after buying an additional 1,077,776 shares in the last quarter. State Street Corp grew its holdings in shares of PTC Therapeutics by 34.2% during the fourth quarter. State Street Corp now owns 4,206,126 shares of the biopharmaceutical company’s stock valued at $319,497,000 after buying an additional 1,071,343 shares during the last quarter. Toronto Dominion Bank increased its position in shares of PTC Therapeutics by 27.5% during the fourth quarter. Toronto Dominion Bank now owns 4,138,215 shares of the biopharmaceutical company’s stock valued at $314,339,000 after acquiring an additional 891,690 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of PTC Therapeutics by 4,013.1% during the fourth quarter. BNP Paribas Financial Markets now owns 828,662 shares of the biopharmaceutical company’s stock valued at $62,945,000 after acquiring an additional 808,515 shares in the last quarter.

PTC Therapeutics Company Profile

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.