PTC Therapeutics (NASDAQ:PTCT) Stock Rating Upgraded by Wall Street Zen

PTC Therapeutics (NASDAQ:PTCT) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Other equities research analysts also recently issued reports about the company. Jefferies Financial Group boosted their target price on PTC Therapeutics from $63.00 to $77.00 and gave the stock a “buy” rating in a research report on Tuesday, October 28th. Cantor Fitzgerald reissued an “overweight” rating and issued a $118.00 target price on shares of PTC Therapeutics in a report on Wednesday, September 3rd. Wells Fargo & Company upped their price target on shares of PTC Therapeutics from $73.00 to $93.00 and gave the company an “overweight” rating in a research note on Wednesday. UBS Group lifted their price objective on shares of PTC Therapeutics from $71.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. Finally, Morgan Stanley decreased their target price on shares of PTC Therapeutics from $76.00 to $71.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 20th. Ten investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $75.40.

PTC Therapeutics Trading Down 1.1%

Shares of PTCT stock opened at $71.78 on Friday. PTC Therapeutics has a 12-month low of $35.95 and a 12-month high of $73.98. The stock has a market capitalization of $5.76 billion, a P/E ratio of 10.30 and a beta of 0.60. The firm’s 50 day moving average is $63.31 and its 200 day moving average is $53.66.

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

Insiders Place Their Bets

In other news, insider Eric Pauwels sold 39,850 shares of PTC Therapeutics stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $56.92, for a total transaction of $2,268,262.00. Following the completion of the sale, the insider owned 72,912 shares of the company’s stock, valued at approximately $4,150,151.04. The trade was a 35.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Allan Steven Jacobson sold 12,000 shares of the stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $65.00, for a total value of $780,000.00. Following the completion of the transaction, the director directly owned 17,451 shares in the company, valued at approximately $1,134,315. This trade represents a 40.75% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 254,662 shares of company stock worth $16,000,821. 5.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nuveen LLC bought a new stake in PTC Therapeutics during the 1st quarter valued at $51,427,000. Wellington Management Group LLP lifted its stake in shares of PTC Therapeutics by 13.2% during the 1st quarter. Wellington Management Group LLP now owns 5,419,172 shares of the biopharmaceutical company’s stock worth $276,161,000 after purchasing an additional 632,049 shares during the last quarter. Hood River Capital Management LLC boosted its position in PTC Therapeutics by 654.4% during the second quarter. Hood River Capital Management LLC now owns 636,502 shares of the biopharmaceutical company’s stock valued at $31,087,000 after purchasing an additional 552,130 shares in the last quarter. State Street Corp grew its stake in PTC Therapeutics by 22.1% in the second quarter. State Street Corp now owns 2,996,454 shares of the biopharmaceutical company’s stock valued at $146,347,000 after purchasing an additional 541,558 shares during the last quarter. Finally, Driehaus Capital Management LLC grew its stake in PTC Therapeutics by 45.3% in the first quarter. Driehaus Capital Management LLC now owns 1,512,645 shares of the biopharmaceutical company’s stock valued at $77,084,000 after purchasing an additional 471,586 shares during the last quarter.

About PTC Therapeutics

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.