PTC Therapeutics, Inc. (NASDAQ:PTCT – Get Free Report) has received an average rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $88.3571.
Several equities analysts recently issued reports on the company. Morgan Stanley restated an “overweight” rating and set a $94.00 price target on shares of PTC Therapeutics in a research note on Friday, May 8th. Raymond James Financial began coverage on PTC Therapeutics in a research report on Friday, April 10th. They issued an “outperform” rating and a $108.00 target price for the company. Jefferies Financial Group cut PTC Therapeutics from a “buy” rating to a “hold” rating and reduced their target price for the stock from $91.00 to $76.00 in a research report on Monday, March 30th. Truist Financial raised PTC Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. Finally, Wells Fargo & Company raised their target price on PTC Therapeutics from $86.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th.
Get Our Latest Research Report on PTC Therapeutics
PTC Therapeutics Stock Up 0.2%
PTC Therapeutics (NASDAQ:PTCT – Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.42. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 22.58%.The firm had revenue of $272.55 million for the quarter, compared to analyst estimates of $217.42 million. During the same period in the previous year, the company posted $10.04 earnings per share. The company’s quarterly revenue was up 43.5% compared to the same quarter last year. Equities research analysts expect that PTC Therapeutics will post 0.19 EPS for the current year.
Insider Transactions at PTC Therapeutics
In other PTC Therapeutics news, insider Neil Gregory Almstead sold 52,003 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $69.04, for a total transaction of $3,590,287.12. Following the completion of the transaction, the insider owned 60,137 shares in the company, valued at $4,151,858.48. This trade represents a 46.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Mark Elliott Boulding sold 3,540 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $78.97, for a total transaction of $279,553.80. Following the transaction, the vice president owned 105,212 shares of the company’s stock, valued at approximately $8,308,591.64. This represents a 3.26% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 118,041 shares of company stock valued at $8,135,739 over the last 90 days. Corporate insiders own 5.50% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UMB Bank n.a. bought a new position in PTC Therapeutics during the fourth quarter worth about $26,000. Smartleaf Asset Management LLC lifted its stake in PTC Therapeutics by 101.3% during the third quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 236 shares during the period. Optiver Holding B.V. lifted its stake in PTC Therapeutics by 96.5% during the third quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 249 shares during the period. Comerica Bank lifted its stake in PTC Therapeutics by 868.5% during the third quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 469 shares during the period. Finally, Salomon & Ludwin LLC bought a new position in PTC Therapeutics during the fourth quarter worth about $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.
Featured Stories
- Five stocks we like better than PTC Therapeutics
- HIVE Weaponizes Power for an AI Pivot
- A Deep Dive Into NVIDIA’s Latest Portfolio Moves
- Brady Corp Wires Up a Massive AI-Powered Breakout
- Why Home Depot’s Sell-Off Could Become a Huge Opportunity
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.
