Brokerages Set PTC Therapeutics, Inc. (NASDAQ:PTCT) PT at $80.67

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) have been given a consensus rating of “Moderate Buy” by the sixteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $80.6667.

Several equities research analysts have commented on the stock. Citigroup boosted their price target on shares of PTC Therapeutics from $50.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. Wall Street Zen upgraded shares of PTC Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, January 3rd. Morgan Stanley reissued an “overweight” rating and set a $90.00 target price on shares of PTC Therapeutics in a research note on Thursday, January 8th. The Goldman Sachs Group lifted their price target on shares of PTC Therapeutics from $44.00 to $50.00 and gave the stock a “sell” rating in a research report on Wednesday, November 5th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of PTC Therapeutics in a report on Monday, December 29th.

PTC Therapeutics Stock Performance

Shares of NASDAQ PTCT opened at $74.68 on Monday. PTC Therapeutics has a 1 year low of $35.95 and a 1 year high of $87.50. The firm has a market cap of $6.00 billion, a P/E ratio of 8.72 and a beta of 0.48. The stock has a fifty day moving average price of $76.08 and a two-hundred day moving average price of $66.66.

Insider Buying and Selling at PTC Therapeutics

In other PTC Therapeutics news, EVP Lee Scott Golden sold 866 shares of the company’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $76.45, for a total transaction of $66,205.70. Following the completion of the sale, the executive vice president directly owned 92,428 shares of the company’s stock, valued at approximately $7,066,120.60. This represents a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eric Pauwels sold 1,024 shares of the firm’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $78.70, for a total transaction of $80,588.80. Following the completion of the transaction, the insider owned 80,141 shares of the company’s stock, valued at approximately $6,307,096.70. The trade was a 1.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 291,016 shares of company stock valued at $23,050,330 over the last 90 days. 5.50% of the stock is owned by insiders.

Institutional Investors Weigh In On PTC Therapeutics

Large investors have recently made changes to their positions in the company. Empowered Funds LLC acquired a new position in PTC Therapeutics in the 1st quarter worth approximately $1,999,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of PTC Therapeutics by 11.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 178,755 shares of the biopharmaceutical company’s stock valued at $9,109,000 after purchasing an additional 18,504 shares in the last quarter. Robeco Institutional Asset Management B.V. purchased a new stake in shares of PTC Therapeutics in the second quarter valued at $280,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of PTC Therapeutics by 16.0% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,062 shares of the biopharmaceutical company’s stock worth $150,000 after buying an additional 423 shares during the period. Finally, Inspire Investing LLC grew its holdings in shares of PTC Therapeutics by 15.4% during the second quarter. Inspire Investing LLC now owns 7,943 shares of the biopharmaceutical company’s stock valued at $388,000 after buying an additional 1,061 shares in the last quarter.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule and biologic therapies for the treatment of rare genetic disorders. Since its founding in 1998, PTC has dedicated its efforts to addressing high unmet medical needs by targeting underlying genetic causes of disease. The company’s research platform emphasizes mechanisms such as nonsense suppression and RNA modulation, enabling the development of novel treatments for conditions with limited therapeutic options.

Among PTC’s approved products is Translarna (ataluren), a first-in-class therapy designed to treat nonsense mutation Duchenne muscular dystrophy in select markets.