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

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) have received an average recommendation of “Moderate Buy” from the sixteen ratings firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $70.1538.

Several equities analysts have recently commented on PTCT shares. Wall Street Zen lowered shares of PTC Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Saturday, August 9th. Wells Fargo & Company raised their price target on PTC Therapeutics from $78.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, August 8th. Robert W. Baird set a $70.00 price target on PTC Therapeutics in a research report on Friday, August 8th. Cantor Fitzgerald raised their target price on PTC Therapeutics from $112.00 to $120.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. Finally, Bank of America lifted their target price on PTC Therapeutics from $68.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th.

PTC Therapeutics Price Performance

NASDAQ:PTCT opened at $48.82 on Monday. The firm has a market capitalization of $3.88 billion, a price-to-earnings ratio of 7.00 and a beta of 0.54. The company’s 50-day moving average is $49.04 and its two-hundred day moving average is $48.96. PTC Therapeutics has a 1-year low of $30.41 and a 1-year high of $58.38.

PTC Therapeutics (NASDAQ:PTCT) last posted its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.83) earnings per share for the quarter, beating the consensus estimate of ($1.07) by $0.24. PTC Therapeutics had a net margin of 35.65% and a negative return on equity of 106.31%. The company had revenue of $178.88 million for the quarter, compared to analyst estimates of $173.01 million. During the same period in the previous year, the business posted ($1.29) EPS. PTC Therapeutics’s revenue was down 4.2% on a year-over-year basis. As a group, equities analysts anticipate that PTC Therapeutics will post -4.52 earnings per share for the current fiscal year.

Insider Transactions at PTC Therapeutics

In related news, CEO Matthew B. Klein sold 10,739 shares of the business’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $51.74, for a total transaction of $555,635.86. Following the completion of the sale, the chief executive officer owned 337,767 shares in the company, valued at $17,476,064.58. The trade was a 3.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Pierre Gravier sold 2,516 shares of the business’s stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $49.46, for a total value of $124,441.36. Following the sale, the chief financial officer owned 71,920 shares of the company’s stock, valued at approximately $3,557,163.20. The trade was a 3.38% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of PTC Therapeutics by 0.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,681 shares of the biopharmaceutical company’s stock valued at $2,967,000 after buying an additional 205 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in shares of PTC Therapeutics by 3.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,936 shares of the biopharmaceutical company’s stock valued at $388,000 after buying an additional 231 shares during the last quarter. Summit Investment Advisors Inc. grew its position in shares of PTC Therapeutics by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,968 shares of the biopharmaceutical company’s stock valued at $360,000 after buying an additional 253 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of PTC Therapeutics by 42.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 995 shares of the biopharmaceutical company’s stock valued at $49,000 after buying an additional 295 shares during the last quarter. Finally, Xponance Inc. grew its position in shares of PTC Therapeutics by 5.2% in the 1st quarter. Xponance Inc. now owns 6,372 shares of the biopharmaceutical company’s stock valued at $325,000 after buying an additional 314 shares during the last quarter.

About PTC Therapeutics

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.