PTC Therapeutics, Inc. (NASDAQ:PTCT) Receives $51.15 Average Target Price from Analysts

PTC Therapeutics, Inc. (NASDAQ:PTCT) has been assigned a consensus rating of “Hold” from the fifteen ratings firms that are covering the company, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, four have given a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $52.38.

PTCT has been the topic of several research analyst reports. Robert W. Baird raised their target price on shares of PTC Therapeutics from $52.00 to $70.00 and gave the company an “outperform” rating in a research note on Tuesday. Raymond James assumed coverage on shares of PTC Therapeutics in a research note on Thursday, October 10th. They set a “market perform” rating on the stock. Citigroup upped their target price on PTC Therapeutics from $26.00 to $32.00 and gave the stock a “sell” rating in a research report on Wednesday. UBS Group lifted their price target on PTC Therapeutics from $47.00 to $71.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, The Goldman Sachs Group boosted their price objective on PTC Therapeutics from $32.00 to $42.00 and gave the stock a “sell” rating in a research note on Wednesday.

Insider Buying and Selling at PTC Therapeutics

In other PTC Therapeutics news, insider Neil Gregory Almstead sold 69,550 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $52.06, for a total transaction of $3,620,773.00. Following the completion of the sale, the insider now directly owns 86,202 shares in the company, valued at approximately $4,487,676.12. This trade represents a 44.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Mark Elliott Boulding sold 85,600 shares of the company’s stock in a transaction dated 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 completion of the transaction, the vice president now owns 92,389 shares in the company, valued at $4,828,249.14. This represents a 48.09 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 196,950 shares of company stock valued at $10,251,735. 5.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. KBC Group NV lifted its position in PTC Therapeutics by 29.2% in the 3rd quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock worth $83,000 after buying an additional 504 shares in the last quarter. CWM LLC increased its stake in shares of PTC Therapeutics by 354.7% in the third quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company’s stock worth $100,000 after acquiring an additional 2,096 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of PTC Therapeutics by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock worth $104,000 after acquiring an additional 492 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of PTC Therapeutics during the second quarter worth $128,000. Finally, Quarry LP boosted its position in PTC Therapeutics by 100.0% during the second quarter. Quarry LP now owns 5,000 shares of the biopharmaceutical company’s stock valued at $153,000 after purchasing an additional 2,500 shares during the last quarter.

PTC Therapeutics Stock Performance

Shares of PTCT opened at $48.04 on Wednesday. PTC Therapeutics has a one year low of $23.58 and a one year high of $54.16. The stock’s fifty day moving average is $41.49 and its 200-day moving average is $36.80. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of -8.09 and a beta of 0.63.

About PTC Therapeutics

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.