PTC Therapeutics (NASDAQ:PTCT) Upgraded by Zacks Research to “Strong-Buy” Rating

Zacks Research upgraded shares of PTC Therapeutics (NASDAQ:PTCT) from a hold rating to a strong-buy rating in a research report report published on Tuesday morning,Zacks.com reports.

Several other research firms have also weighed in on PTCT. Wells Fargo & Company increased their price objective on shares of PTC Therapeutics from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Royal Bank Of Canada raised their price target on PTC Therapeutics from $82.00 to $85.00 and gave the stock a “sector perform” rating in a report on Tuesday. Raymond James Financial initiated coverage on PTC Therapeutics in a research note on Friday, April 10th. They set an “outperform” rating and a $108.00 price objective for the company. TD Cowen upgraded PTC Therapeutics from a “hold” rating to a “buy” rating and raised their target price for the company from $75.00 to $90.00 in a research note on Friday, May 8th. Finally, Weiss Ratings lowered shares of PTC Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $91.57.

PTC Therapeutics Stock Down 0.7%

Shares of NASDAQ PTCT opened at $88.57 on Tuesday. The stock’s 50 day moving average price is $74.77 and its two-hundred day moving average price is $72.61. PTC Therapeutics has a 52-week low of $43.17 and a 52-week high of $89.85. The stock has a market capitalization of $7.35 billion, a P/E ratio of -38.01, a PEG ratio of 4.10 and a beta of 0.53.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.42. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 22.58%.The firm had revenue of $272.55 million for the quarter, compared to analysts’ expectations of $217.42 million. During the same period last year, the business posted $10.04 earnings per share. The firm’s revenue for the quarter was up 43.5% on a year-over-year basis. On average, analysts anticipate that PTC Therapeutics will post 0.78 EPS for the current year.

Insider Activity at PTC Therapeutics

In related news, insider Neil Gregory Almstead sold 24,613 shares of the company’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $88.89, for a total value of $2,187,849.57. Following the completion of the sale, the insider owned 60,299 shares of the company’s stock, valued at $5,359,978.11. This represents a 28.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Christine Marie Utter sold 19,686 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $75.56, for a total transaction of $1,487,474.16. Following the transaction, the chief accounting officer directly owned 70,199 shares in the company, valued at approximately $5,304,236.44. The trade was a 21.90% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 183,214 shares of company stock valued at $14,902,651 in the last ninety days. Company insiders own 5.50% of the company’s stock.

Institutional Trading of PTC Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of PTCT. Vanguard Group Inc. grew its holdings in PTC Therapeutics by 6.2% during the fourth quarter. Vanguard Group Inc. now owns 8,803,203 shares of the biopharmaceutical company’s stock worth $668,691,000 after acquiring an additional 514,204 shares during the period. Janus Henderson Group PLC boosted its holdings in PTC Therapeutics by 48.3% during the first quarter. Janus Henderson Group PLC now owns 7,193,433 shares of the biopharmaceutical company’s stock worth $489,997,000 after buying an additional 2,342,101 shares in the last quarter. Wellington Management Group LLP grew its position in PTC Therapeutics by 4.8% in the third quarter. Wellington Management Group LLP now owns 4,918,619 shares of the biopharmaceutical company’s stock worth $301,856,000 after buying an additional 224,481 shares during the last quarter. State Street Corp increased its holdings in shares of PTC Therapeutics by 34.2% in the fourth quarter. State Street Corp now owns 4,206,126 shares of the biopharmaceutical company’s stock valued at $319,497,000 after buying an additional 1,071,343 shares in the last quarter. Finally, Toronto Dominion Bank lifted its position in shares of PTC Therapeutics by 27.5% during the 4th quarter. Toronto Dominion Bank now owns 4,138,215 shares of the biopharmaceutical company’s stock valued at $314,339,000 after acquiring an additional 891,690 shares during the last quarter.

Key Stories Impacting PTC Therapeutics

Here are the key news stories impacting PTC Therapeutics this week:

• Positive Sentiment: Zacks Research upgraded PTC Therapeutics (PTCT) from “hold” to “strong-buy,” signaling improved confidence in the company’s earnings outlook and potentially helping support the stock. Zacks.com
• Neutral Sentiment: Analyst sentiment remains constructive overall, with several firms rating PTCT a buy or better and a consensus target price above current levels, which may reinforce investor optimism.
• Neutral Sentiment: PTC Therapeutics recently beat quarterly earnings and revenue estimates, which continues to provide a fundamental tailwind for the shares.
• Negative Sentiment: Vice President Mark Elliott Boulding sold 5,079 shares under a pre-arranged trading plan, adding to recent insider selling and possibly creating some concern about insider confidence. PTC Therapeutics (NASDAQ:PTCT) VP Mark Elliott Boulding Sells 5,079 Shares
• Negative Sentiment: Another insider, Neil Gregory Almstead, sold a combined 46,774 shares over two transactions this week, which may be weighing on sentiment despite the sales being part of a 10b5-1 plan.

About PTC Therapeutics

PTC Therapeutics, Inc is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule and biologic therapies for the treatment of rare genetic disorders. Since its founding in 1998, PTC has dedicated its efforts to addressing high unmet medical needs by targeting underlying genetic causes of disease. The company’s research platform emphasizes mechanisms such as nonsense suppression and RNA modulation, enabling the development of novel treatments for conditions with limited therapeutic options.

Among PTC’s approved products is Translarna (ataluren), a first-in-class therapy designed to treat nonsense mutation Duchenne muscular dystrophy in select markets.