PTC Therapeutics, Inc. (NASDAQ:PTCT) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) have been assigned a consensus rating of “Reduce” from the thirteen analysts that are presently covering the firm, MarketBeat reports. Five analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $33.53.

Several analysts have issued reports on PTCT shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price objective on shares of PTC Therapeutics in a research note on Friday, April 12th. Royal Bank of Canada raised their price objective on shares of PTC Therapeutics from $22.00 to $28.00 and gave the stock a “sector perform” rating in a research note on Friday, March 1st. TD Cowen decreased their price objective on shares of PTC Therapeutics from $32.00 to $30.00 and set a “market perform” rating for the company in a research note on Friday, March 1st. Finally, Jefferies Financial Group raised their price objective on shares of PTC Therapeutics from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th.

Insider Activity

In related news, CEO Matthew B. Klein sold 3,361 shares of PTC Therapeutics stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $24.89, for a total transaction of $83,655.29. Following the transaction, the chief executive officer now directly owns 225,807 shares of the company’s stock, valued at $5,620,336.23. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last quarter, insiders sold 6,404 shares of company stock valued at $165,506. Corporate insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On PTC Therapeutics

Institutional investors have recently bought and sold shares of the business. Rathbones Group PLC purchased a new position in PTC Therapeutics during the third quarter valued at approximately $532,000. Charles Schwab Investment Management Inc. increased its holdings in PTC Therapeutics by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 596,763 shares of the biopharmaceutical company’s stock valued at $13,373,000 after buying an additional 23,288 shares during the period. Walleye Capital LLC grew its holdings in PTC Therapeutics by 958.6% in the third quarter. Walleye Capital LLC now owns 72,030 shares of the biopharmaceutical company’s stock worth $1,614,000 after purchasing an additional 65,226 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in PTC Therapeutics by 10.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,122,698 shares of the biopharmaceutical company’s stock worth $25,160,000 after purchasing an additional 104,024 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in PTC Therapeutics by 5.2% in the third quarter. Vanguard Group Inc. now owns 7,945,489 shares of the biopharmaceutical company’s stock worth $178,058,000 after purchasing an additional 393,012 shares during the last quarter.

PTC Therapeutics Trading Up 12.1 %

Shares of NASDAQ:PTCT opened at $28.57 on Tuesday. PTC Therapeutics has a 12 month low of $17.53 and a 12 month high of $59.84. The company has a 50-day moving average price of $28.15 and a 200 day moving average price of $25.81. The company has a market cap of $2.19 billion, a price-to-earnings ratio of -3.72 and a beta of 0.67.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.20) EPS for the quarter, beating analysts’ consensus estimates of ($1.21) by $0.01. The business had revenue of $210.12 million during the quarter, compared to the consensus estimate of $160.27 million. As a group, equities analysts forecast that PTC Therapeutics will post -5.87 EPS for the current year.

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.