PTC Therapeutics (NASDAQ:PTCT) Upgraded at StockNews.com

StockNews.com upgraded shares of PTC Therapeutics (NASDAQ:PTCT) from a hold rating to a buy rating in a research report report published on Friday.

Several other research firms also recently commented on PTCT. The Goldman Sachs Group boosted their price target on shares of PTC Therapeutics from $32.00 to $42.00 and gave the stock a “sell” rating in a research note on Wednesday, December 4th. Morgan Stanley raised shares of PTC Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $45.00 to $67.00 in a research report on Friday, December 13th. Wells Fargo & Company lifted their price objective on shares of PTC Therapeutics from $56.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Cantor Fitzgerald lifted their price objective on shares of PTC Therapeutics from $76.00 to $113.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, UBS Group lifted their price objective on shares of PTC Therapeutics from $47.00 to $71.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, PTC Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $57.85.

PTC Therapeutics Stock Down 0.6 %

NASDAQ:PTCT opened at $49.47 on Friday. The company has a fifty day simple moving average of $46.44 and a two-hundred day simple moving average of $40.39. The company has a market cap of $3.82 billion, a price-to-earnings ratio of -8.33 and a beta of 0.62. PTC Therapeutics has a 52 week low of $23.58 and a 52 week high of $54.16.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($1.39) EPS for the quarter, topping the consensus estimate of ($1.54) by $0.15. The business had revenue of $196.79 million during the quarter, compared to analyst estimates of $173.51 million. During the same quarter last year, the firm earned ($1.76) EPS. On average, analysts expect that PTC Therapeutics will post -4.56 EPS for the current year.

Insider Activity at PTC Therapeutics

In other news, CAO Christine Marie Utter sold 17,800 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $51.77, for a total value of $921,506.00. Following the completion of the sale, the chief accounting officer now directly owns 52,428 shares of the company’s stock, valued at approximately $2,714,197.56. This represents a 25.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 transaction of $4,473,456.00. Following the completion of the sale, the vice president now directly owns 92,389 shares of the company’s stock, valued at $4,828,249.14. The trade was a 48.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 211,737 shares of company stock valued at $10,920,687 over the last ninety days. Insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On PTC Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Smartleaf Asset Management LLC raised its holdings in shares of PTC Therapeutics by 78.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 270 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in shares of PTC Therapeutics during the fourth quarter worth about $68,000. R Squared Ltd acquired a new position in shares of PTC Therapeutics during the fourth quarter worth about $79,000. KBC Group NV increased 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 worth $83,000 after acquiring an additional 504 shares during the period. Finally, CWM LLC increased its stake in shares of PTC Therapeutics by 354.7% during 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 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.