PTC Therapeutics (NASDAQ:PTCT) Receives “Hold” Rating from Jefferies Financial Group

Jefferies Financial Group reaffirmed their hold rating on shares of PTC Therapeutics (NASDAQ:PTCT) in a research note released on Monday morning,Benzinga reports. The firm currently has a $76.00 target price on the biopharmaceutical company’s stock, down from their previous target price of $91.00.

PTCT has been the subject of several other reports. Wells Fargo & Company dropped their price target on PTC Therapeutics from $93.00 to $86.00 and set an “overweight” rating for the company in a research report on Friday, February 20th. Wall Street Zen lowered PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. Morgan Stanley lifted their target price on shares of PTC Therapeutics from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, February 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PTC Therapeutics in a report on Monday, December 29th. Finally, Bank of America reduced their target price on shares of PTC Therapeutics from $97.00 to $93.00 and set a “buy” rating for the company in a research report on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.71.

PTC Therapeutics Trading Down 0.7%

PTCT stock opened at $65.64 on Monday. PTC Therapeutics has a 12-month low of $35.95 and a 12-month high of $87.50. The stock has a market cap of $5.43 billion, a price-to-earnings ratio of 8.48 and a beta of 0.51. The business’s 50-day moving average is $69.61 and its 200 day moving average is $70.91.

PTC Therapeutics (NASDAQ:PTCT) last posted 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). PTC Therapeutics had a negative return on equity of 362.45% and a net margin of 39.44%.The firm had revenue of $164.68 million for the quarter, compared to analysts’ expectations of $281.45 million. During the same quarter last year, the firm posted ($0.85) earnings per share. PTC Therapeutics’s quarterly revenue was down 22.7% on a year-over-year basis. As a group, equities analysts forecast that PTC Therapeutics will post -4.52 EPS for the current fiscal year.

Insider Activity

In related news, Director Stephanie Okey sold 15,167 shares of PTC Therapeutics stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $70.00, for a total transaction of $1,061,690.00. Following the transaction, the director owned 8,000 shares in the company, valued at approximately $560,000. This trade represents a 65.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Mark Elliott Boulding sold 4,879 shares of the company’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $77.44, for a total value of $377,829.76. Following the completion of the sale, the vice president owned 117,659 shares of the company’s stock, valued at approximately $9,111,512.96. The trade was a 3.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 129,666 shares of company stock valued at $9,325,530 in the last 90 days. 5.50% of the stock is owned by insiders.

Institutional Investors Weigh In On PTC Therapeutics

A number of hedge funds have recently modified their holdings of the company. Empowered Funds LLC purchased a new position in PTC Therapeutics during the first quarter worth about $1,999,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of PTC Therapeutics by 11.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 178,755 shares of the biopharmaceutical company’s stock worth $9,109,000 after buying an additional 18,504 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of PTC Therapeutics by 42.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 995 shares of the biopharmaceutical company’s stock worth $49,000 after buying an additional 295 shares during the last quarter. Swiss National Bank raised its position in shares of PTC Therapeutics by 0.7% during the 2nd quarter. Swiss National Bank now owns 135,565 shares of the biopharmaceutical company’s stock valued at $6,621,000 after buying an additional 1,000 shares during the period. Finally, Legal & General Group Plc raised its position in shares of PTC Therapeutics by 15.6% during the 2nd quarter. Legal & General Group Plc now owns 222,837 shares of the biopharmaceutical company’s stock valued at $10,883,000 after buying an additional 29,993 shares during the period.

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.