PTC Therapeutics (NASDAQ:PTCT) Trading Up 5.7%

PTC Therapeutics, Inc. (NASDAQ:PTCT)’s share price traded up 5.7% on Friday . The company traded as high as $34.69 and last traded at $34.56. 45,235 shares were traded during trading, a decline of 95% from the average session volume of 858,549 shares. The stock had previously closed at $32.70.

Analysts Set New Price Targets

PTCT has been the topic of a number of research analyst reports. Citigroup raised their target price on PTC Therapeutics from $18.00 to $26.00 and gave the company a “sell” rating in a report on Tuesday, May 21st. Morgan Stanley increased their price objective on PTC Therapeutics from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, July 12th. Baird R W raised PTC Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. UBS Group assumed coverage on PTC Therapeutics in a report on Monday, August 26th. They issued a “buy” rating and a $47.00 target price on the stock. Finally, Raymond James raised shares of PTC Therapeutics from an “underperform” rating to a “market perform” rating in a research note on Monday, May 20th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, PTC Therapeutics presently has a consensus rating of “Hold” and an average target price of $37.13.

PTC Therapeutics Stock Performance

The stock has a 50-day moving average of $33.04 and a two-hundred day moving average of $32.17. The company has a market cap of $2.63 billion, a P/E ratio of -4.50 and a beta of 0.64.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.16). The firm had revenue of $186.70 million during the quarter, compared to analysts’ expectations of $192.12 million. As a group, sell-side analysts forecast that PTC Therapeutics, Inc. will post -5.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Pierre Gravier sold 2,269 shares of PTC Therapeutics stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $34.02, for a total transaction of $77,191.38. Following the sale, the chief financial officer now owns 53,531 shares of the company’s stock, valued at approximately $1,821,124.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.50% of the company’s stock.

Institutional Trading of PTC Therapeutics

A number of hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. purchased a new stake in PTC Therapeutics in the fourth quarter worth about $271,000. Charles Schwab Investment Management Inc. increased its position in PTC Therapeutics by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 610,918 shares of the biopharmaceutical company’s stock valued at $16,837,000 after buying an additional 14,155 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of PTC Therapeutics by 263.3% in the fourth quarter. BNP Paribas Financial Markets now owns 371,580 shares of the biopharmaceutical company’s stock worth $10,241,000 after acquiring an additional 269,292 shares during the last quarter. Jump Financial LLC boosted its stake in PTC Therapeutics by 70.4% in the 4th quarter. Jump Financial LLC now owns 26,256 shares of the biopharmaceutical company’s stock worth $724,000 after purchasing an additional 10,846 shares in the last quarter. Finally, Norges Bank bought a new position in PTC Therapeutics in the 4th quarter valued at approximately $15,058,000.

About PTC Therapeutics

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.