PTC Therapeutics, Inc. (NASDAQ:PTCT) Stock Has Average Price Target of $98.25 According to Brokerages

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) have earned an average rating of “Moderate Buy” from the fifteen analysts that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $98.25.

PTCT has been the subject of several analyst reports. Cantor Fitzgerald lifted their price objective on PTC Therapeutics from $130.00 to $137.00 and gave the company an “overweight” rating in a report on Tuesday, September 22nd. Barclays boosted their price target on PTC Therapeutics from $120.00 to $122.00 and gave the company an “overweight” rating in a research note on Friday, August 14th. Leerink Partners initiated coverage on shares of PTC Therapeutics in a research report on Monday, September 14th. They set an “outperform” rating and a $98.00 price objective for the company. Weiss Ratings raised shares of PTC Therapeutics from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday. Finally, Wall Street Zen lowered shares of PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Saturday.

PTC Therapeutics Trading Down 2.8%

NASDAQ PTCT opened at $62.92 on Friday. The company has a market cap of $5.25 billion, a price-to-earnings ratio of -108.48, a PEG ratio of 1.95 and a beta of 0.49. The company has a 50 day moving average of $68.26 and a 200-day moving average of $71.95. PTC Therapeutics has a 1-year low of $61.23 and a 1-year high of $90.87.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.68. The company had revenue of $360.52 million for the quarter, compared to analyst estimates of $298.63 million. During the same period in the prior year, the company earned ($0.83) EPS. The company’s quarterly revenue was up 101.5% compared to the same quarter last year. On average, equities research analysts forecast that PTC Therapeutics will post 1.19 earnings per share for the current year.

Insider Activity

In related news, Director Michael Schmertzler sold 2,500 shares of PTC Therapeutics stock in a transaction that occurred on Wednesday, October 7th. The shares were sold at an average price of $63.39, for a total value of $158,475.00. Following the transaction, the director directly owned 1,294,094 shares of the company’s stock, valued at $82,032,618.66. This trade represents a 0.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Glenn Md Phd Steele, Jr. sold 12,000 shares of PTC Therapeutics stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $65.16, for a total transaction of $781,920.00. Following the completion of the transaction, the director directly owned 22,500 shares in the company, valued at $1,466,100. This trade represents a 34.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 74,678 shares of company stock worth $5,160,898. Insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On PTC Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sacks & Associates LLC acquired a new position in shares of PTC Therapeutics during the 3rd quarter worth $251,000. Private Capital Advisors Inc. bought a new stake in shares of PTC Therapeutics during the 3rd quarter worth $458,000. Envestnet Portfolio Solutions Inc. lifted its position in shares of PTC Therapeutics by 1.8% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 13,730 shares of the biopharmaceutical company’s stock worth $1,120,000 after buying an additional 237 shares during the last quarter. Tidal Investments LLC acquired a new stake in PTC Therapeutics in the second quarter valued at about $211,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in PTC Therapeutics in the second quarter valued at about $193,000.

About PTC Therapeutics

PTC Therapeutics, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for rare diseases. Its research programs use technologies designed to address genetic and molecular causes of disease, including RNA biology, protein translation and gene therapy.

The company’s commercial portfolio includes Emflaza (deflazacort), a corticosteroid approved in the United States to treat Duchenne muscular dystrophy, and Upstaza (eladocagene exuparvovec), a gene therapy for aromatic L-amino acid decarboxylase deficiency in eligible patients.