PTC Therapeutics (NASDAQ:PTCT) Upgraded at Wall Street Zen

by · The Markets Daily

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

PTCT has been the subject of several other reports. Wells Fargo & Company boosted their target price on PTC Therapeutics from $106.00 to $109.00 and gave the stock an “overweight” rating in a research note on Thursday, August 13th. Jefferies Financial Group raised PTC Therapeutics from a “hold” rating to a “buy” rating and increased their price target for the company from $76.00 to $85.00 in a research report on Wednesday, May 27th. Zacks Research cut PTC Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 6th. Weiss Ratings downgraded PTC Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday. Finally, Leerink Partners assumed coverage on shares of PTC Therapeutics in a research note on Monday, September 14th. They set an “outperform” rating and a $98.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, PTC Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $98.50.

Check Out Our Latest Report on PTCT

PTC Therapeutics Stock Down 0.2%

Shares of PTCT opened at $65.26 on Friday. The company has a market cap of $5.45 billion, a P/E ratio of -112.52, a PEG ratio of 2.02 and a beta of 0.55. PTC Therapeutics has a fifty-two week low of $57.74 and a fifty-two week high of $90.87. The firm’s 50 day moving average price is $71.95 and its 200 day moving average price is $72.15.

PTC Therapeutics (NASDAQ:PTCT – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.24 by $0.68. The company 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 was up 101.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.83) EPS. Research analysts forecast that PTC Therapeutics will post 1.17 earnings per share for the current year.

Insiders Place Their Bets

In other PTC Therapeutics news, CEO Matthew Klein sold 10,292 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $68.57, for a total value of $705,722.44. Following the sale, the chief executive officer directly owned 383,868 shares in the company, valued at $26,321,828.76. This trade represents a 2.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Michael Schmertzler sold 12,500 shares of PTC Therapeutics stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $73.32, for a total value of $916,500.00. Following the sale, the director directly owned 1,374,094 shares of the company’s stock, valued at $100,748,572.08. This trade represents a 0.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 162,669 shares of company stock worth $13,208,674. 5.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PTC Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP lifted its position in shares of PTC Therapeutics by 63.8% during the 4th quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company’s stock worth $48,000 after buying an additional 247 shares during the last quarter. Harbor Investment Advisory LLC purchased a new position in shares of PTC Therapeutics in the 2nd quarter valued at $81,000. EverSource Wealth Advisors LLC grew its position in shares of PTC Therapeutics by 16.9% in 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 during the last quarter. IFP Advisors Inc raised its stake in PTC Therapeutics by 64.3% during the 4th quarter. IFP Advisors Inc now owns 1,257 shares of the biopharmaceutical company’s stock worth $95,000 after acquiring an additional 492 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in PTC Therapeutics during the 2nd quarter worth $112,000.

About PTC Therapeutics

(Get Free Report)

PTC Therapeutics, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for rare diseases. The company uses technologies involving RNA biology, gene therapy and small-molecule drug discovery to address conditions with limited treatment options, including rare neurological and metabolic disorders.

PTC’s commercial portfolio has included Translarna (ataluren), an investigational treatment in some markets for Duchenne muscular dystrophy associated with a nonsense mutation, and Emflaza (deflazacort), a corticosteroid approved in the United States for Duchenne muscular dystrophy.

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