PTC Therapeutics (NASDAQ:PTCT) Shares Gap Up to $34.15

PTC Therapeutics, Inc. (NASDAQ:PTCT)’s share price gapped up before the market opened on Monday . The stock had previously closed at $34.15, but opened at $35.45. PTC Therapeutics shares last traded at $35.64, with a volume of 59,870 shares.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Bank of America upped their price objective on shares of PTC Therapeutics from $25.00 to $32.00 and gave the company an “underperform” rating in a research report on Friday, June 21st. Jefferies Financial Group upped their target price on shares of PTC Therapeutics from $35.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, May 20th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $53.00 target price on shares of PTC Therapeutics in a research note on Thursday, June 20th. Raymond James upgraded shares of PTC Therapeutics from an “underperform” rating to a “market perform” rating in a research note on Monday, May 20th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $64.00 price objective on shares of PTC Therapeutics in a research note on Wednesday, August 21st. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, PTC Therapeutics currently has a consensus rating of “Hold” and an average target price of $36.64.

PTC Therapeutics Trading Up 1.2 %

The firm has a market cap of $2.71 billion, a P/E ratio of -4.60 and a beta of 0.65. The business’s fifty day moving average price is $33.05 and its two-hundred day moving average price is $31.63.

Insider Activity at PTC Therapeutics

In related news, CFO Pierre Gravier sold 2,269 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $34.02, for a total value of $77,191.38. Following the transaction, the chief financial officer now directly owns 53,531 shares in the company, valued at approximately $1,821,124.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Hexagon Capital Partners LLC lifted its holdings in PTC Therapeutics by 132.0% during the 4th quarter. Hexagon Capital Partners LLC now owns 979 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 557 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of PTC Therapeutics in the 1st quarter valued at $46,000. Quest Partners LLC acquired a new position in shares of PTC Therapeutics in the 2nd quarter valued at $128,000. Headlands Technologies LLC lifted its stake in shares of PTC Therapeutics by 248.0% in the 4th quarter. Headlands Technologies LLC now owns 4,684 shares of the biopharmaceutical company’s stock valued at $129,000 after purchasing an additional 3,338 shares during the period. Finally, Quarry LP lifted its stake in shares of PTC Therapeutics by 100.0% in the 2nd 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 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.