PTC Therapeutics (NASDAQ:PTCT) Given New $137.00 Price Target at Cantor Fitzgerald

by · The Markets Daily

PTC Therapeutics (NASDAQ:PTCT – Get Free Report) had its price objective upped by research analysts at Cantor Fitzgerald from $130.00 to $137.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target points to a potential upside of 109.93% from the stock’s previous close.

PTCT has been the subject of several other reports. Leerink Partners began coverage on PTC Therapeutics in a report on Monday, September 14th. They issued an “outperform” rating and a $98.00 target price for the company. Wells Fargo & Company lifted their price target on PTC Therapeutics from $106.00 to $109.00 and gave the stock an “overweight” rating in a report on Thursday, August 13th. Weiss Ratings cut shares of PTC Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday. Zacks Research lowered shares of PTC Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 6th. Finally, Citigroup upgraded shares of PTC Therapeutics from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $75.00 to $108.00 in a research report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, PTC Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.08.

View Our Latest Report on PTC Therapeutics

PTC Therapeutics Price Performance

PTCT opened at $65.26 on Tuesday. The firm has a market capitalization of $5.45 billion, a price-to-earnings ratio of -112.52, a price-to-earnings-growth ratio of 2.02 and a beta of 0.55. The company’s 50 day simple moving average is $71.95 and its two-hundred day simple moving average is $72.15. PTC Therapeutics has a 1-year low of $57.74 and a 1-year high of $90.87.

PTC Therapeutics (NASDAQ:PTCT – Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.68. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 3.80%.The business had revenue of $360.52 million during the quarter, compared to analyst estimates of $298.63 million. During the same period in the prior year, the business earned ($0.83) earnings per share. The business’s revenue was up 101.5% compared to the same quarter last year. On average, equities analysts anticipate that PTC Therapeutics will post 1.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other PTC Therapeutics news, insider Neil Almstead sold 24,613 shares of the stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $88.89, for a total transaction of $2,187,849.57. Following the completion of the transaction, the insider owned 60,299 shares of the company’s stock, valued at $5,359,978.11. This trade represents a 28.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mary L. Smith sold 15,834 shares of the business’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $90.00, for a total transaction of $1,425,060.00. Following the completion of the sale, the director directly owned 21,813 shares in the company, valued at $1,963,170. This trade represents a 42.06% 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 quarter, insiders have sold 162,669 shares of company stock valued at $13,208,674. 5.30% of the stock is owned by company insiders.

Institutional Trading of PTC Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC purchased a new position in shares of PTC Therapeutics during the second quarter worth $211,000. Integrated Wealth Concepts LLC acquired a new stake in shares of PTC Therapeutics in the second quarter valued at $193,000. Baird Financial Group Inc. purchased a new stake in shares of PTC Therapeutics in the 2nd quarter valued at $219,000. Empirical Finance LLC purchased a new stake in shares of PTC Therapeutics in the 2nd quarter valued at $753,000. Finally, Nykredit A S acquired a new position in PTC Therapeutics during the 2nd quarter worth about $263,000.

About PTC Therapeutics

(Get Free Report)

PTC Therapeutics, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for rare diseases. The company uses technologies involving RNA biology, gene therapy and small-molecule drug discovery to address conditions with limited treatment options, including rare neurological and metabolic disorders.

PTC’s commercial portfolio has included Translarna (ataluren), an investigational treatment in some markets for Duchenne muscular dystrophy associated with a nonsense mutation, and Emflaza (deflazacort), a corticosteroid approved in the United States for Duchenne muscular dystrophy.

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