Cantor Fitzgerald Issues Positive Forecast for PTCT Earnings

PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) - Stock analysts at Cantor Fitzgerald raised their FY2024 EPS estimates for shares of PTC Therapeutics in a report released on Wednesday, January 15th. Cantor Fitzgerald analyst K. Kluska now anticipates that the biopharmaceutical company will earn ($3.30) per share for the year, up from their prior forecast of ($3.90). Cantor Fitzgerald has a "Overweight" rating and a $76.00 price target on the stock. The consensus estimate for PTC Therapeutics' current full-year earnings is ($4.90) per share.

A number of other research analysts have also issued reports on PTCT. Citigroup boosted their target price on PTC Therapeutics from $26.00 to $32.00 and gave the company a "sell" rating in a report on Wednesday, December 4th. Wells Fargo & Company boosted their price objective on shares of PTC Therapeutics from $56.00 to $68.00 and gave the company an "overweight" rating in a research note on Tuesday, November 26th. StockNews.com downgraded shares of PTC Therapeutics from a "buy" rating to a "hold" rating in a research report on Wednesday, December 18th. JPMorgan Chase & Co. lifted their target price on shares of PTC Therapeutics from $51.00 to $62.00 and gave the company an "overweight" rating in a report on Tuesday, November 19th. Finally, UBS Group increased their price target on shares of PTC Therapeutics from $47.00 to $71.00 and gave the stock a "buy" rating in a report on Tuesday, December 3rd. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $55.00.

PTC Therapeutics Stock Up 1.8 %

PTCT stock traded up $0.76 during trading on Friday, hitting $43.84. The company had a trading volume of 950,037 shares, compared to its average volume of 611,340. The firm has a 50-day moving average price of $45.26 and a 200-day moving average price of $38.78. The firm has a market cap of $3.38 billion, a PE ratio of -7.38 and a beta of 0.62. PTC Therapeutics has a 1-year low of $23.58 and a 1-year high of $54.16.

Insider Buying and Selling

In other PTC Therapeutics news, CAO Christine Marie Utter sold 17,800 shares of the firm's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $51.77, for a total transaction of $921,506.00. Following the completion of the transaction, the chief accounting officer now directly owns 52,428 shares in the company, valued at approximately $2,714,197.56. This trade represents a 25.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jerome B. Zeldis sold 24,000 shares of the company's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $51.50, for a total transaction of $1,236,000.00. Following the completion of the sale, the director now directly owns 14,500 shares in the company, valued at $746,750. This trade represents a 62.34 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 211,737 shares of company stock valued at $10,920,687. 5.50% of the stock is owned by insiders.

Hedge Funds Weigh In On PTC Therapeutics

Several hedge funds have recently bought and sold shares of the stock. KBC Group NV boosted its stake in shares of PTC Therapeutics by 29.2% during the third quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company's stock valued at $83,000 after acquiring an additional 504 shares during the last quarter. CWM LLC lifted its holdings in 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 purchasing an additional 2,096 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of PTC Therapeutics by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company's stock worth $104,000 after purchasing an additional 492 shares during the last quarter. Quarry LP grew its holdings in shares of PTC Therapeutics by 100.0% during the second quarter. Quarry LP now owns 5,000 shares of the biopharmaceutical company's stock worth $153,000 after buying an additional 2,500 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in shares of PTC Therapeutics by 8.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 5,965 shares of the biopharmaceutical company's stock valued at $269,000 after buying an additional 455 shares during the last quarter.

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.