PTC Therapeutics, Inc. (NASDAQ:PTCT) Receives $63.54 Consensus PT from Analysts

PTC Therapeutics, Inc. (NASDAQ:PTCT) has earned an average rating of “Moderate Buy” from the fifteen ratings firms that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $64.00.

Several equities research analysts have issued reports on PTCT shares. Citigroup raised their price target on shares of PTC Therapeutics from $32.00 to $45.00 and gave the stock a “sell” rating in a research note on Wednesday, February 12th. Cantor Fitzgerald raised their target price 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. Wells Fargo & Company boosted their price target on PTC Therapeutics from $56.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Barclays raised their price objective on PTC Therapeutics from $45.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. upped their target price on PTC Therapeutics from $72.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday, March 14th.

Insider Activity at PTC Therapeutics

In other news, Director Stephanie Okey sold 5,000 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $54.00, for a total value of $270,000.00. Following the completion of the sale, the director now owns 8,867 shares of the company’s stock, valued at $478,818. This represents a 36.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew B. Klein sold 8,279 shares of PTC Therapeutics stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $45.16, for a total transaction of $373,879.64. Following the transaction, the chief executive officer now owns 217,528 shares in the company, valued at $9,823,564.48. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,391 shares of company stock worth $2,172,927. Company insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On PTC Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. State of New Jersey Common Pension Fund D raised its stake in shares of PTC Therapeutics by 7.0% during the third quarter. State of New Jersey Common Pension Fund D now owns 56,820 shares of the biopharmaceutical company’s stock valued at $2,108,000 after purchasing an additional 3,727 shares during the period. Los Angeles Capital Management LLC increased its stake in PTC Therapeutics by 40.0% during the 3rd quarter. Los Angeles Capital Management LLC now owns 15,130 shares of the biopharmaceutical company’s stock worth $561,000 after buying an additional 4,325 shares during the period. KBC Group NV lifted its holdings 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. Thrivent Financial for Lutherans purchased a new position in PTC Therapeutics in the 3rd quarter valued at about $1,450,000. Finally, Quest Partners LLC grew its stake in shares of PTC Therapeutics by 433.9% during the third quarter. Quest Partners LLC now owns 22,359 shares of the biopharmaceutical company’s stock valued at $830,000 after acquiring an additional 18,171 shares in the last quarter.

PTC Therapeutics Stock Down 0.6 %

PTCT opened at $56.63 on Friday. The firm has a market cap of $4.47 billion, a P/E ratio of -9.53 and a beta of 0.66. The business’s fifty day simple moving average is $49.52 and its 200 day simple moving average is $44.10. PTC Therapeutics has a 52 week low of $24.00 and a 52 week high of $58.38.

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.