PTC Therapeutics (NASDAQ:PTCT) Price Target Raised to $82.00

PTC Therapeutics (NASDAQ:PTCT) had its price objective lifted by Royal Bank Of Canada from $70.00 to $82.00 in a research report report published on Wednesday morning,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the biopharmaceutical company’s stock.

A number of other analysts have also recently weighed in on the stock. Citigroup raised their price target on shares of PTC Therapeutics from $50.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday. Wall Street Zen cut shares of PTC Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Saturday, August 9th. Morgan Stanley lowered their target price on shares of PTC Therapeutics from $76.00 to $71.00 and set an “overweight” rating for the company in a research note on Wednesday, August 20th. Barclays upped their price target on PTC Therapeutics from $46.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $118.00 price objective on shares of PTC Therapeutics in a research report on Wednesday, September 3rd. Ten analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, PTC Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $75.40.

PTC Therapeutics Trading Down 1.1%

PTCT opened at $71.78 on Wednesday. The firm has a market cap of $5.70 billion, a price-to-earnings ratio of 10.30 and a beta of 0.60. PTC Therapeutics has a 12 month low of $35.95 and a 12 month high of $73.98. The stock has a fifty day moving average price of $63.31 and a 200-day moving average price of $53.60.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of ($1.19) by $1.39. PTC Therapeutics had a negative return on equity of 106.31% and a net margin of 35.65%.The company had revenue of $211.01 million for the quarter, compared to the consensus estimate of $177.42 million. During the same quarter last year, the company earned ($1.39) earnings per share. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. PTC Therapeutics has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that PTC Therapeutics will post -4.52 EPS for the current year.

Insider Transactions at PTC Therapeutics

In related news, Director Allan Steven Jacobson sold 12,000 shares of PTC Therapeutics stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $65.00, for a total transaction of $780,000.00. Following the completion of the sale, the director owned 17,451 shares of the company’s stock, valued at $1,134,315. The trade was a 40.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Mark Elliott Boulding sold 3,375 shares of the stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $63.43, for a total transaction of $214,076.25. Following the completion of the transaction, the vice president owned 103,901 shares in the company, valued at approximately $6,590,440.43. This trade represents a 3.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 254,662 shares of company stock worth $16,000,821 in the last 90 days. 5.50% of the stock is owned by company insiders.

Institutional Trading of PTC Therapeutics

Several large investors have recently made changes to their positions in the business. GAMMA Investing LLC raised its holdings in shares of PTC Therapeutics by 86.3% during the first quarter. GAMMA Investing LLC now owns 952 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 441 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in PTC Therapeutics during the 1st quarter worth about $524,000. Banque Pictet & Cie SA acquired a new stake in PTC Therapeutics during the 1st quarter worth about $342,000. Cerity Partners LLC purchased a new position in shares of PTC Therapeutics during the 1st quarter valued at about $641,000. Finally, Xponance Inc. lifted its holdings in shares of PTC Therapeutics by 5.2% in the 1st quarter. Xponance Inc. now owns 6,372 shares of the biopharmaceutical company’s stock valued at $325,000 after buying an additional 314 shares during the period.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders in the United States and internationally. The company offers Translarna and Emflaza for the treatment of Duchenne muscular dystrophy; Upstaza to treat aromatic l-amino acid decarboxylas (AADC) deficiency, a central nervous system disorder; Tegsedi and Waylivra for the treatment of rare diseases; and Evrysdi to treat spinal muscular atrophy (SMA) in adults and children.