PTC Therapeutics, Inc. (NASDAQ:PTCT) Receives $54.08 Average PT from Analysts

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) have been given an average recommendation of “Hold” by the fifteen research firms that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $54.08.

Several equities analysts have recently commented on PTCT shares. Morgan Stanley upgraded shares of PTC Therapeutics from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $45.00 to $67.00 in a report on Friday, December 13th. Barclays upped their price target on PTC Therapeutics from $45.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 3rd. The Goldman Sachs Group lifted their price objective on PTC Therapeutics from $32.00 to $42.00 and gave the company a “sell” rating in a research note on Wednesday, December 4th. Royal Bank of Canada raised PTC Therapeutics from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $39.00 to $63.00 in a research note on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. lifted their target price on PTC Therapeutics from $51.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th.

Insider Transactions at PTC Therapeutics

In other news, Director Jerome B. Zeldis sold 24,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $51.50, for a total transaction of $1,236,000.00. Following the completion of the sale, the director now owns 14,500 shares in the company, valued at $746,750. This represents a 62.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Christine Marie Utter sold 17,800 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $51.77, for a total transaction of $921,506.00. Following the transaction, the chief accounting officer now owns 52,428 shares of the company’s stock, valued at approximately $2,714,197.56. The trade was a 25.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 196,950 shares of company stock worth $10,251,735. 5.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. KBC Group NV boosted its stake in shares of PTC Therapeutics by 29.2% during the 3rd quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock worth $83,000 after acquiring an additional 504 shares in the last quarter. CWM LLC grew its holdings in PTC Therapeutics by 354.7% in the third quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company’s stock valued at $100,000 after purchasing an additional 2,096 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of PTC Therapeutics by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 492 shares in the last quarter. Quest Partners LLC acquired a new position in shares of PTC Therapeutics during the 2nd quarter worth $128,000. Finally, Quarry LP raised its stake in shares of PTC Therapeutics by 100.0% during the 2nd quarter. Quarry LP now owns 5,000 shares of the biopharmaceutical company’s stock worth $153,000 after buying an additional 2,500 shares during the last quarter.

PTC Therapeutics Trading Up 1.6 %

PTC Therapeutics stock opened at $45.88 on Friday. The company has a 50-day moving average price of $44.67 and a 200 day moving average price of $38.04. PTC Therapeutics has a 12-month low of $23.58 and a 12-month high of $54.16. The stock has a market cap of $3.54 billion, a P/E ratio of -7.72 and a beta of 0.63.

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.