According to Zacks, “PTC Therapeutics, Inc. is a biopharmaceutical company. It is focused on the discovery and development of orally administered, small-molecule drugs for genetic disorders, oncology and infectious disease. PTC Therapeutics, Inc. is based in South Plainfield, United States. “
PTCT has been the topic of a number of other research reports. Citigroup cut PTC Therapeutics from a buy rating to a neutral rating and raised their target price for the stock from $55.00 to $71.00 in a report on Thursday. Cowen reissued a hold rating on shares of PTC Therapeutics in a research report on Thursday, February 6th. Cantor Fitzgerald upped their price objective on shares of PTC Therapeutics from $60.00 to $81.00 and gave the company an overweight rating in a research report on Thursday, January 23rd. ValuEngine lowered PTC Therapeutics from a buy rating to a hold rating in a research report on Wednesday, December 4th. Finally, William Blair restated a buy rating on shares of PTC Therapeutics in a report on Tuesday, November 26th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $58.22.
In other PTC Therapeutics news, CEO Stuart Walter Peltz sold 1,797 shares of PTC Therapeutics stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $48.17, for a total transaction of $86,561.49. Following the transaction, the chief executive officer now directly owns 23,085 shares of the company’s stock, valued at approximately $1,112,004.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Christine Marie Utter sold 13,750 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $50.02, for a total value of $687,775.00. Following the completion of the sale, the chief accounting officer now owns 5,224 shares in the company, valued at approximately $261,304.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,877 shares of company stock worth $1,979,457. Insiders own 7.00% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of PTC Therapeutics by 9.6% during the second quarter. BlackRock Inc. now owns 4,502,671 shares of the biopharmaceutical company’s stock valued at $202,619,000 after acquiring an additional 394,773 shares in the last quarter. State Street Corp grew its holdings in PTC Therapeutics by 12.7% during the fourth quarter. State Street Corp now owns 2,338,946 shares of the biopharmaceutical company’s stock valued at $112,340,000 after purchasing an additional 264,044 shares during the period. Sofinnova Investments Inc. increased its position in PTC Therapeutics by 80.0% in the fourth quarter. Sofinnova Investments Inc. now owns 517,092 shares of the biopharmaceutical company’s stock worth $24,836,000 after buying an additional 229,847 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of PTC Therapeutics by 140.9% in the fourth quarter. Renaissance Technologies LLC now owns 313,900 shares of the biopharmaceutical company’s stock valued at $15,077,000 after buying an additional 183,600 shares during the period. Finally, Millennium Management LLC lifted its position in shares of PTC Therapeutics by 228.6% during the 3rd quarter. Millennium Management LLC now owns 198,879 shares of the biopharmaceutical company’s stock valued at $6,726,000 after buying an additional 138,351 shares during the last quarter.
PTC Therapeutics Company Profile
PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines for the treatment of rare disorders. The company offers Translarna (ataluren) and Emflaza (deflazacort) for the treatment of nonsense mutation Duchenne muscular dystrophy in ambulatory patients.
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