Analysts Set PTC Therapeutics, Inc. (NASDAQ:PTCT) PT at $65.00

PTC Therapeutics, Inc. (NASDAQ:PTCT) has been assigned an average recommendation of “Moderate Buy” from the fifteen research firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $65.00.

A number of research analysts have weighed in on the stock. Bank of America raised shares of PTC Therapeutics from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $55.00 to $68.00 in a research report on Friday, May 9th. Wall Street Zen lowered shares of PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 16th. JPMorgan Chase & Co. cut their target price on shares of PTC Therapeutics from $75.00 to $67.00 and set an “overweight” rating for the company in a research report on Wednesday, May 7th. Truist Financial assumed coverage on shares of PTC Therapeutics in a research report on Tuesday, June 17th. They set a “buy” rating and a $80.00 target price for the company. Finally, Royal Bank Of Canada upped their price objective on shares of PTC Therapeutics from $57.00 to $58.00 and gave the company an “outperform” rating in a research report on Wednesday, May 7th.

Insiders Place Their Bets

In other PTC Therapeutics news, CFO Pierre Gravier sold 2,516 shares of the business’s stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $49.46, for a total transaction of $124,441.36. Following the sale, the chief financial officer directly owned 71,920 shares of the company’s stock, valued at $3,557,163.20. The trade was a 3.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Mark Elliott Boulding sold 883 shares of the business’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $46.02, for a total transaction of $40,635.66. Following the sale, the vice president directly owned 103,901 shares in the company, valued at $4,781,524.02. This trade represents a 0.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,328 shares of company stock worth $254,158. 5.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Sterling Capital Management LLC lifted its holdings in shares of PTC Therapeutics by 424.4% during the 4th quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 522 shares during the period. Quantbot Technologies LP lifted its holdings in shares of PTC Therapeutics by 545.5% during the 1st quarter. Quantbot Technologies LP now owns 652 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 551 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of PTC Therapeutics by 84.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 700 shares of the biopharmaceutical company’s stock worth $36,000 after acquiring an additional 320 shares during the period. GAMMA Investing LLC lifted its holdings in shares of PTC Therapeutics by 86.3% during the 1st quarter. GAMMA Investing LLC now owns 952 shares of the biopharmaceutical company’s stock worth $49,000 after acquiring an additional 441 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of PTC Therapeutics during the 1st quarter worth approximately $61,000.

PTC Therapeutics Price Performance

Shares of NASDAQ:PTCT opened at $47.08 on Thursday. PTC Therapeutics has a 12 month low of $29.02 and a 12 month high of $58.38. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of 7.23 and a beta of 0.50. The stock’s 50 day moving average price is $48.87 and its 200 day moving average price is $48.50.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported $10.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $9.19. PTC Therapeutics had a negative return on equity of 78.56% and a net margin of 33.56%. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $437.16 million. During the same quarter in the prior year, the company earned ($1.20) earnings per share. The firm’s revenue was down 9.6% on a year-over-year basis. On average, sell-side analysts expect that PTC Therapeutics will post -4.52 EPS for the current year.

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.