PTC Therapeutics (NASDAQ:PTCT) Downgraded by Wall Street Zen to “Buy”

by · The Markets Daily

Wall Street Zen downgraded shares of PTC Therapeutics (NASDAQ:PTCT – Free Report) from a strong-buy rating to a buy rating in a research report report published on Saturday morning.

Several other equities analysts also recently commented on the stock. Barclays upped their price objective on shares of PTC Therapeutics from $120.00 to $122.00 and gave the company an “overweight” rating in a research note on Friday, August 14th. Citigroup raised PTC Therapeutics from a “neutral” rating to a “buy” rating and raised their target price for the stock from $75.00 to $108.00 in a research note on Tuesday, June 9th. Wells Fargo & Company boosted their price target on PTC Therapeutics from $106.00 to $109.00 and gave the company an “overweight” rating in a report on Thursday, August 13th. Royal Bank Of Canada upped their price target on PTC Therapeutics from $82.00 to $85.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 7th. Finally, Cantor Fitzgerald increased their price objective on PTC Therapeutics from $124.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, PTC Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $98.55.

Get Our Latest Analysis on PTC Therapeutics

PTC Therapeutics Stock Down 1.0%

Shares of NASDAQ PTCT opened at $69.82 on Friday. The firm’s fifty day moving average is $77.62 and its 200 day moving average is $72.35. PTC Therapeutics has a 52 week low of $48.28 and a 52 week high of $90.87. The company has a market cap of $5.83 billion, a price-to-earnings ratio of -120.38, a PEG ratio of 2.15 and a beta of 0.56.

PTC Therapeutics (NASDAQ:PTCT – Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.68. The business had revenue of $360.52 million during the quarter, compared to analysts’ expectations of $298.63 million. PTC Therapeutics had a negative net margin of 3.80% and a negative return on equity of 362.45%. The firm’s revenue for the quarter was up 101.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.83) EPS. Equities research analysts anticipate that PTC Therapeutics will post 1.17 earnings per share for the current year.

Insider Buying and Selling at PTC Therapeutics

In other PTC Therapeutics news, insider Neil Gregory Almstead sold 2,464 shares of the company’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $90.25, for a total value of $222,376.00. Following the sale, the insider owned 60,299 shares in the company, valued at approximately $5,441,984.75. This represents a 3.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Schmertzler sold 12,500 shares of the company’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $73.32, for a total transaction of $916,500.00. Following the completion of the sale, the director owned 1,374,094 shares in the company, valued at approximately $100,748,572.08. This trade represents a 0.90% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 205,343 shares of company stock valued at $16,774,704 over the last three months. 5.30% of the stock is currently owned by corporate insiders.

Institutional Trading of PTC Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its position in PTC Therapeutics by 16.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the biopharmaceutical company’s stock valued at $71,000 after buying an additional 151 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in PTC Therapeutics by 8.5% in 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 grew its stake in shares of PTC Therapeutics by 63.8% in the fourth quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company’s stock worth $48,000 after acquiring an additional 247 shares during the last quarter. Measured Wealth Private Client Group LLC grew its stake in shares of 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 worth $377,000 after acquiring an additional 265 shares during the last quarter. Finally, Evolve Private Wealth LLC grew its stake in shares of PTC Therapeutics by 5.2% in the first quarter. Evolve Private Wealth LLC now owns 6,122 shares of the biopharmaceutical company’s stock worth $417,000 after acquiring an additional 305 shares during the last quarter.

About PTC Therapeutics

(Get Free Report)

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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