PTC Therapeutics, Inc. (NASDAQ:PTCT – Get Free Report)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $75.52, but opened at $70.92. PTC Therapeutics shares last traded at $70.74, with a volume of 489,217 shares changing hands.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on PTCT. Cantor Fitzgerald upped their target price on shares of PTC Therapeutics from $124.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Wells Fargo & Company lifted their price target on shares of PTC Therapeutics from $93.00 to $106.00 and gave the company an “overweight” rating in a report on Friday. Raymond James Financial initiated coverage on shares of PTC Therapeutics in a research report on Friday, April 10th. They issued an “outperform” rating and a $108.00 price target on the stock. Weiss Ratings cut shares of PTC Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Finally, TD Cowen raised shares of PTC Therapeutics from a “hold” rating to a “buy” rating and raised their price objective for the stock from $75.00 to $90.00 in a report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, PTC Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.75.
Read Our Latest Research Report on PTCT
PTC Therapeutics Price Performance
PTC Therapeutics (NASDAQ:PTCT – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.68. The business had revenue of $360.52 million for the quarter, compared to the consensus estimate of $298.63 million. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. The firm’s quarterly revenue was up 101.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.83) EPS. Sell-side analysts forecast that PTC Therapeutics, Inc. will post 0.41 EPS for the current fiscal year.
Insider Buying and Selling
In other PTC Therapeutics news, CEO Matthew B. Klein sold 12,572 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $72.95, for a total value of $917,127.40. Following the completion of the transaction, the chief executive officer directly owned 393,998 shares of the company’s stock, valued at approximately $28,742,154.10. The trade was a 3.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Neil Gregory Almstead sold 24,613 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $88.89, for a total transaction of $2,187,849.57. Following the transaction, the insider owned 60,299 shares in the company, valued at $5,359,978.11. The trade was a 28.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 198,662 shares of company stock valued at $16,347,994. Insiders own 5.50% of the company’s stock.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its holdings in PTC Therapeutics by 16.9% during the first quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the biopharmaceutical company’s stock worth $71,000 after buying an additional 151 shares during the last quarter. PNC Financial Services Group Inc. raised its position in PTC Therapeutics by 8.5% during the first quarter. PNC Financial Services Group Inc. now owns 3,128 shares of the biopharmaceutical company’s stock worth $213,000 after acquiring an additional 244 shares in the last quarter. Allworth Financial LP lifted its stake in PTC Therapeutics by 63.8% in the fourth quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company’s stock valued at $48,000 after acquiring an additional 247 shares during the last quarter. Measured Wealth Private Client Group LLC lifted its stake in PTC Therapeutics by 5.6% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 4,963 shares of the biopharmaceutical company’s stock valued at $377,000 after acquiring an additional 265 shares during the last quarter. Finally, Evolve Private Wealth LLC grew its position in shares of PTC Therapeutics by 5.2% in the 1st quarter. Evolve Private Wealth LLC now owns 6,122 shares of the biopharmaceutical company’s stock valued at $417,000 after acquiring an additional 305 shares during the period.
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.
Featured Articles
- Five stocks we like better than PTC Therapeutics
- Apple’s Record Quarter Could Not Outrun Its Guidance Problem
- McKesson’s Compounding Keeps Adding Up
- Peeling Out or Breaking Down? Ford’s High-Stakes Turnaround
- Generac’s AI Power Story Is Becoming Bigger Than the Weather
Receive News & Ratings for PTC Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PTC Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.
