PTC Therapeutics, Inc. (NASDAQ:PTCT) Receives $54.08 Consensus Price Target from Analysts

PTC Therapeutics, Inc. (NASDAQ:PTCT) has received an average rating of “Hold” from the fifteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $54.08.

Several research analysts have commented on the company. The Goldman Sachs Group raised their price objective on PTC Therapeutics from $32.00 to $42.00 and gave the company a “sell” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. raised their target price on PTC Therapeutics from $51.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. Morgan Stanley upgraded PTC Therapeutics from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $45.00 to $67.00 in a report on Friday, December 13th. StockNews.com downgraded shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Finally, Citigroup raised their price objective on PTC Therapeutics from $26.00 to $32.00 and gave the stock a “sell” rating in a research note on Wednesday, December 4th.

Insider Buying and Selling at PTC Therapeutics

In related news, CEO Matthew B. Klein sold 8,279 shares of the stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $45.16, for a total transaction of $373,879.64. Following the sale, the chief executive officer now directly owns 217,528 shares in the company, valued at $9,823,564.48. This represents a 3.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jerome B. Zeldis sold 24,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $51.50, for a total transaction of $1,236,000.00. Following the sale, the director now directly owns 14,500 shares in the company, valued at approximately $746,750. This represents a 62.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 205,229 shares of company stock worth $10,625,615 over the last 90 days. Insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PTCT. KBC Group NV lifted its stake in PTC Therapeutics by 29.2% in the third quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock valued at $83,000 after buying an additional 504 shares in the last quarter. CWM LLC raised its holdings 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 purchasing an additional 2,096 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of PTC Therapeutics by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 492 shares during the last quarter. Quest Partners LLC acquired a new stake in PTC Therapeutics during the 2nd quarter valued at $128,000. Finally, Quarry LP boosted its holdings in shares of PTC Therapeutics by 100.0% during the 2nd quarter. Quarry LP now owns 5,000 shares of the biopharmaceutical company’s stock worth $153,000 after buying an additional 2,500 shares during the period.

PTC Therapeutics Stock Up 1.4 %

Shares of PTCT stock opened at $46.54 on Friday. The firm’s 50 day moving average price is $44.78 and its two-hundred day moving average price is $38.11. PTC Therapeutics has a fifty-two week low of $23.58 and a fifty-two week high of $54.16. The stock has a market cap of $3.59 billion, a price-to-earnings ratio of -7.84 and a beta of 0.62.

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.