Analysts Set PTC Therapeutics, Inc. (NASDAQ:PTCT) Target Price at $82.79

PTC Therapeutics, Inc. (NASDAQ:PTCT) has received an average rating of “Moderate Buy” from the fifteen analysts that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $82.7143.

PTCT has been the subject of a number of analyst reports. Barclays reissued an “overweight” rating and set a $120.00 target price on shares of PTC Therapeutics in a research report on Monday, February 23rd. Morgan Stanley upped their price target on PTC Therapeutics from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. Royal Bank Of Canada decreased their price objective on PTC Therapeutics from $87.00 to $82.00 and set a “sector perform” rating for the company in a report on Friday, February 20th. Wells Fargo & Company lowered their price objective on PTC Therapeutics from $93.00 to $86.00 and set an “overweight” rating for the company in a research report on Friday, February 20th. Finally, Wall Street Zen downgraded PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, February 21st.

PTC Therapeutics Stock Performance

Shares of PTC Therapeutics stock opened at $65.64 on Tuesday. The company has a market capitalization of $5.43 billion, a PE ratio of 8.48 and a beta of 0.51. The company has a 50-day simple moving average of $69.61 and a two-hundred day simple moving average of $70.91. PTC Therapeutics has a one year low of $35.95 and a one year high of $87.50.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($1.46). PTC Therapeutics had a net margin of 39.44% and a negative return on equity of 362.45%. The firm had revenue of $164.68 million during the quarter, compared to the consensus estimate of $281.45 million. During the same quarter in the prior year, the business posted ($0.85) earnings per share. The firm’s quarterly revenue was down 22.7% on a year-over-year basis. On average, equities analysts predict that PTC Therapeutics will post -4.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Stephanie Okey sold 15,167 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $70.00, for a total transaction of $1,061,690.00. Following the transaction, the director owned 8,000 shares in the company, valued at $560,000. This represents a 65.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Mark Elliott Boulding sold 3,019 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $69.48, for a total transaction of $209,760.12. Following the completion of the transaction, the vice president directly owned 105,212 shares of the company’s stock, valued at $7,310,129.76. The trade was a 2.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 129,666 shares of company stock valued at $9,325,530. 5.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PTCT. Flax Pond Capital LLC purchased a new stake in shares of PTC Therapeutics during the fourth quarter valued at $456,000. Mcguire Capital Advisors Inc. acquired a new position in shares of PTC Therapeutics in the 4th quarter valued at $397,000. Invesco Ltd. raised its stake in PTC Therapeutics by 38.7% in the 4th quarter. Invesco Ltd. now owns 434,285 shares of the biopharmaceutical company’s stock worth $32,988,000 after acquiring an additional 121,228 shares during the last quarter. Summit Global Investments purchased a new position in PTC Therapeutics in the 4th quarter worth $242,000. Finally, State of Tennessee Department of Treasury acquired a new stake in PTC Therapeutics during the 4th quarter worth about $2,465,000.

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.