PTC Therapeutics (NASDAQ:PTCT) PT Raised to $53.00

PTC Therapeutics (NASDAQ:PTCT) had its target price raised by JPMorgan Chase & Co. from $43.00 to $53.00 in a report released on Tuesday, Benzinga reports. They currently have an overweight rating on the biopharmaceutical company’s stock.

PTCT has been the topic of a number of other research reports. The Goldman Sachs Group increased their target price on PTC Therapeutics from $18.00 to $32.00 and gave the company a sell rating in a report on Tuesday. Cantor Fitzgerald reiterated an overweight rating and set a $45.00 price objective on shares of PTC Therapeutics in a research report on Friday, April 12th. 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 report on Monday. Raymond James upgraded shares of PTC Therapeutics from an underperform rating to a market perform rating in a report on Monday. Finally, TD Cowen reduced their price objective on shares of PTC Therapeutics from $32.00 to $30.00 and set a market perform rating on the stock in a research note on Friday, March 1st. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, PTC Therapeutics has an average rating of Hold and an average price target of $35.67.

PTC Therapeutics Stock Down 3.9 %

Shares of PTCT stock opened at $37.13 on Tuesday. The stock has a market cap of $2.85 billion, a P/E ratio of -4.83 and a beta of 0.63. PTC Therapeutics has a fifty-two week low of $17.53 and a fifty-two week high of $48.63. The business has a fifty day simple moving average of $29.79 and a 200-day simple moving average of $27.41.

PTC Therapeutics (NASDAQ:PTCT) last posted its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.20) earnings per share for the quarter, beating the consensus estimate of ($1.21) by $0.01. The business had revenue of $210.12 million for the quarter, compared to analysts’ expectations of $160.27 million. On average, sell-side analysts anticipate that PTC Therapeutics will post -5.27 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Matthew B. Klein sold 3,361 shares of PTC Therapeutics stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $24.89, for a total value of $83,655.29. Following the transaction, the chief executive officer now directly owns 225,807 shares of the company’s stock, valued at approximately $5,620,336.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 4,849 shares of company stock worth $124,107 over the last three months. 5.50% of the stock is owned by insiders.

Institutional Trading of PTC Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. Hexagon Capital Partners LLC lifted its stake in shares of PTC Therapeutics by 132.0% during the fourth quarter. Hexagon Capital Partners LLC now owns 979 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 557 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in PTC Therapeutics during the 1st quarter worth approximately $46,000. Nisa Investment Advisors LLC boosted its holdings in PTC Therapeutics by 317.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,656 shares of the biopharmaceutical company’s stock worth $60,000 after acquiring an additional 2,019 shares during the period. Headlands Technologies LLC grew its position in PTC Therapeutics by 248.0% in the fourth quarter. Headlands Technologies LLC now owns 4,684 shares of the biopharmaceutical company’s stock valued at $129,000 after acquiring an additional 3,338 shares in the last quarter. Finally, Lazard Asset Management LLC raised its stake in shares of PTC Therapeutics by 268.9% during the first quarter. Lazard Asset Management LLC now owns 6,504 shares of the biopharmaceutical company’s stock valued at $188,000 after purchasing an additional 4,741 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.