PTC Therapeutics (NASDAQ:PTCT) Upgraded at Raymond James Financial

Raymond James Financial upgraded shares of PTC Therapeutics (NASDAQ:PTCT) to a moderate buy rating in a research note published on Thursday morning,Zacks.com reports.

Several other research firms also recently commented on PTCT. Weiss Ratings restated a “hold (c)” rating on shares of PTC Therapeutics in a report on Monday, December 29th. Truist Financial upgraded PTC Therapeutics to a “strong-buy” rating in a report on Wednesday, March 25th. TD Cowen restated a “hold” rating on shares of PTC Therapeutics in a report on Thursday, January 29th. Wall Street Zen downgraded PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. Finally, Jefferies Financial Group downgraded PTC Therapeutics from a “buy” rating to a “hold” rating and decreased their price target for the stock from $91.00 to $76.00 in a report on Monday, March 30th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, PTC Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $84.40.

PTC Therapeutics Stock Down 3.0%

NASDAQ PTCT opened at $68.69 on Thursday. The company has a market cap of $5.69 billion, a price-to-earnings ratio of 8.87 and a beta of 0.55. PTC Therapeutics has a 52 week low of $35.95 and a 52 week high of $87.50. The business has a 50 day moving average price of $68.46 and a 200-day moving average price of $71.36.

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

Insiders Place Their Bets

In other PTC Therapeutics news, CEO Matthew B. Klein sold 7,371 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 $511,252.56. Following the transaction, the chief executive officer owned 387,082 shares of the company’s stock, valued at approximately $26,848,007.52. The trade was a 1.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lee Scott Golden sold 10,000 shares of the business’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $63.38, for a total value of $633,800.00. Following the completion of the transaction, the executive vice president directly owned 79,944 shares in the company, valued at approximately $5,066,850.72. This represents a 11.12% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 124,666 shares of company stock valued at $8,513,116. 5.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. UMB Bank n.a. purchased a new position in PTC Therapeutics in the fourth quarter worth $26,000. Smartleaf Asset Management LLC lifted its position in shares of PTC Therapeutics by 101.3% during the 3rd quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 236 shares during the last quarter. Optiver Holding B.V. lifted its position in shares of PTC Therapeutics by 96.5% during the 3rd quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 249 shares during the last quarter. Comerica Bank lifted its position in shares of PTC Therapeutics by 868.5% during the 3rd quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 469 shares during the last quarter. Finally, Salomon & Ludwin LLC purchased a new position in shares of PTC Therapeutics during the 4th quarter valued at $41,000.

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.