PTC Therapeutics (NASDAQ:PTCT) Price Target Raised to $113.00

PTC Therapeutics (NASDAQ:PTCT) had its target price hoisted by Cantor Fitzgerald from $76.00 to $113.00 in a research note issued to investors on Monday morning,Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the biopharmaceutical company’s stock. Cantor Fitzgerald also issued estimates for PTC Therapeutics’ FY2025 earnings at ($3.26) EPS.

Other research analysts also recently issued research reports about the company. Royal Bank of Canada raised PTC Therapeutics from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $39.00 to $63.00 in a research note on Tuesday, December 3rd. Raymond James assumed coverage on shares of PTC Therapeutics in a research note on Thursday, October 10th. They issued a “market perform” rating for the company. The Goldman Sachs Group raised their target price on shares of PTC Therapeutics from $32.00 to $42.00 and gave the company a “sell” rating in a research report on Wednesday, December 4th. Wells Fargo & Company increased their price target on PTC Therapeutics from $56.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Finally, Citigroup boosted their price objective on PTC Therapeutics from $26.00 to $32.00 and gave the stock a “sell” rating in a research report on Wednesday, December 4th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $57.85.

PTC Therapeutics Trading Up 1.2 %

NASDAQ PTCT opened at $49.99 on Monday. PTC Therapeutics has a 1 year low of $23.58 and a 1 year high of $54.16. The firm has a market capitalization of $3.86 billion, a price-to-earnings ratio of -8.42 and a beta of 0.62. The firm’s 50 day simple moving average is $46.23 and its 200 day simple moving average is $40.12.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($1.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.54) by $0.15. The business had revenue of $196.79 million during the quarter, compared to the consensus estimate of $173.51 million. During the same quarter in the previous year, the business posted ($1.76) EPS. On average, equities research analysts forecast that PTC Therapeutics will post -4.56 earnings per share for the current year.

Insider Activity

In related news, VP Mark Elliott Boulding sold 85,600 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $52.26, for a total value of $4,473,456.00. Following the transaction, the vice president now owns 92,389 shares in the company, valued at $4,828,249.14. The trade was a 48.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Neil Gregory Almstead sold 1,265 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $45.34, for a total value of $57,355.10. Following the sale, the insider now owns 104,783 shares of the company’s stock, valued at approximately $4,750,861.22. The trade was a 1.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 211,737 shares of company stock valued at $10,920,687. 5.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PTC Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC increased its stake in shares of PTC Therapeutics by 78.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 270 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in PTC Therapeutics in the fourth quarter valued at $68,000. R Squared Ltd acquired a new position in shares of PTC Therapeutics during the fourth quarter valued at about $79,000. KBC Group NV boosted its position in shares of PTC Therapeutics by 29.2% during the 3rd quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock worth $83,000 after purchasing an additional 504 shares in the last quarter. Finally, CWM LLC grew its stake in shares of PTC Therapeutics by 354.7% in the 3rd quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company’s stock valued at $100,000 after buying an additional 2,096 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.