Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT – Get Free Report) have earned a consensus recommendation of “Moderate Buy” from the fourteen research firms that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $91.3571.
Several research analysts recently issued reports on PTCT shares. Truist Financial upgraded shares of PTC Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. Morgan Stanley reaffirmed an “overweight” rating and set a $94.00 target price on shares of PTC Therapeutics in a research note on Friday, May 8th. Wells Fargo & Company upped their price target on PTC Therapeutics from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Weiss Ratings downgraded PTC Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, May 11th. Finally, Jefferies Financial Group raised PTC Therapeutics from a “hold” rating to a “buy” rating and increased their target price for the stock from $76.00 to $85.00 in a research note on Wednesday, May 27th.
Read Our Latest Report on PTC Therapeutics
Insiders Place Their Bets
Institutional Investors Weigh In On PTC Therapeutics
Several institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC increased its holdings in PTC Therapeutics by 48.3% in the 1st quarter. Janus Henderson Group PLC now owns 7,193,433 shares of the biopharmaceutical company’s stock worth $489,997,000 after buying an additional 2,342,101 shares in the last quarter. Jefferies Financial Group Inc. bought a new position in PTC Therapeutics during the 3rd quarter valued at about $97,252,000. State Street Corp boosted its holdings in shares of PTC Therapeutics by 34.2% during the 4th quarter. State Street Corp now owns 4,206,126 shares of the biopharmaceutical company’s stock valued at $319,497,000 after acquiring an additional 1,071,343 shares during the last quarter. Toronto Dominion Bank boosted its holdings in shares of PTC Therapeutics by 27.5% during the 4th quarter. Toronto Dominion Bank now owns 4,138,215 shares of the biopharmaceutical company’s stock valued at $314,339,000 after acquiring an additional 891,690 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of PTC Therapeutics by 4,013.1% in the fourth quarter. BNP Paribas Financial Markets now owns 828,662 shares of the biopharmaceutical company’s stock worth $62,945,000 after acquiring an additional 808,515 shares during the period.
PTC Therapeutics Trading Up 0.4%
PTCT stock opened at $85.76 on Thursday. PTC Therapeutics has a 1-year low of $43.17 and a 1-year high of $87.50. The firm has a market capitalization of $7.11 billion, a PE ratio of -36.81, a PEG ratio of 3.83 and a beta of 0.53. The business’s 50 day simple moving average is $73.97 and its 200 day simple moving average is $72.41.
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 for the quarter, topping the consensus estimate of ($0.45) by $0.42. The company had revenue of $272.55 million for the quarter, compared to analysts’ expectations of $217.42 million. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 22.58%.The firm’s revenue for the quarter was up 43.5% on a year-over-year basis. During the same period in the prior year, the firm earned $10.04 earnings per share. As a group, sell-side analysts predict that PTC Therapeutics will post 0.78 EPS for the current fiscal year.
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.
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