PTC Therapeutics, Inc. (NASDAQ:PTCT) Receives Consensus Rating of “Buy” from Analysts

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) have received an average recommendation of “Buy” from the fourteen analysts that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $61.67.

Several equities analysts have recently issued reports on PTCT shares. SunTrust Banks lifted their price target on PTC Therapeutics from $75.00 to $86.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. JPMorgan Chase & Co. raised PTC Therapeutics from a “neutral” rating to an “overweight” rating and set a $71.00 price target for the company in a research report on Wednesday, October 7th. Credit Suisse Group lowered their price target on PTC Therapeutics from $53.00 to $52.00 and set a “neutral” rating for the company in a research report on Monday, August 10th. Bank of America reduced their price objective on PTC Therapeutics from $60.00 to $58.00 and set a “buy” rating for the company in a report on Monday, August 10th. Finally, Cowen reiterated a “hold” rating and issued a $50.00 price objective on shares of PTC Therapeutics in a report on Monday, July 20th.

PTCT traded down $0.31 on Monday, reaching $51.65. The company had a trading volume of 1,601 shares, compared to its average volume of 766,753. The business has a 50 day simple moving average of $49.02 and a 200 day simple moving average of $49.49. The company has a market cap of $3.52 billion, a price-to-earnings ratio of -7.44 and a beta of 1.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.91 and a current ratio of 3.00. PTC Therapeutics has a 52-week low of $30.79 and a 52-week high of $59.89.

PTC Therapeutics (NASDAQ:PTCT) last announced its earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($2.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.29) by ($1.49). The company had revenue of $75.24 million during the quarter, compared to analysts’ expectations of $82.04 million. PTC Therapeutics had a negative net margin of 138.67% and a negative return on equity of 67.92%. The company’s revenue for the quarter was down 12.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.75) earnings per share. As a group, equities research analysts predict that PTC Therapeutics will post -6.42 EPS for the current fiscal year.

In other PTC Therapeutics news, CEO Stuart Walter Peltz sold 124,351 shares of the business’s stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $50.12, for a total transaction of $6,232,472.12. Following the completion of the sale, the chief executive officer now directly owns 56,985 shares in the company, valued at approximately $2,856,088.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Christine Marie Utter sold 2,500 shares of the business’s stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $50.08, for a total value of $125,200.00. Following the sale, the chief accounting officer now owns 10,349 shares of the company’s stock, valued at $518,277.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 131,851 shares of company stock valued at $6,614,122. Corporate insiders own 7.00% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the business. State Street Corp grew its stake in shares of PTC Therapeutics by 1.4% during the 1st quarter. State Street Corp now owns 2,372,677 shares of the biopharmaceutical company’s stock valued at $105,845,000 after acquiring an additional 33,731 shares during the period. Exane Derivatives grew its stake in shares of PTC Therapeutics by 112.4% during the 3rd quarter. Exane Derivatives now owns 3,591 shares of the biopharmaceutical company’s stock valued at $168,000 after acquiring an additional 1,900 shares during the period. Wells Fargo & Company MN grew its stake in shares of PTC Therapeutics by 226.5% during the 1st quarter. Wells Fargo & Company MN now owns 122,908 shares of the biopharmaceutical company’s stock valued at $5,483,000 after acquiring an additional 85,264 shares during the period. Squarepoint Ops LLC bought a new position in shares of PTC Therapeutics during the 1st quarter valued at approximately $440,000. Finally, Macquarie Group Ltd. grew its stake in shares of PTC Therapeutics by 16.5% during the 2nd quarter. Macquarie Group Ltd. now owns 933,938 shares of the biopharmaceutical company’s stock valued at $47,388,000 after acquiring an additional 132,241 shares during the period.

About PTC Therapeutics

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines for the treatment of rare disorders. The company offers Translarna (ataluren) and Emflaza (deflazacort) for the treatment of nonsense mutation Duchenne muscular dystrophy in ambulatory patients.

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Analyst Recommendations for PTC Therapeutics (NASDAQ:PTCT)

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