Analysts Set PTC Therapeutics, Inc. (NASDAQ:PTCT) Price Target at $37.40

PTC Therapeutics, Inc. (NASDAQ:PTCT) has earned an average rating of “Hold” from the fourteen analysts that are currently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $37.40.

PTCT has been the topic of several analyst reports. Raymond James upgraded PTC Therapeutics from an “underperform” rating to a “market perform” rating in a report on Monday, May 20th. Morgan Stanley upgraded shares of PTC Therapeutics from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $28.00 to $30.00 in a report on Monday, April 29th. Cantor Fitzgerald boosted their price target on shares of PTC Therapeutics from $52.00 to $62.00 and gave the stock an “overweight” rating in a research note on Monday, July 1st. The Goldman Sachs Group boosted their price target on shares of PTC Therapeutics from $18.00 to $32.00 and gave the stock a “sell” rating in a research note on Tuesday, May 28th. Finally, Bank of America boosted their price objective on PTC Therapeutics from $25.00 to $32.00 and gave the stock an “underperform” rating in a research report on Friday, June 21st.

PTC Therapeutics Stock Up 4.5 %

Shares of PTC Therapeutics stock opened at $33.20 on Friday. The firm has a market capitalization of $2.55 billion, a P/E ratio of -4.32 and a beta of 0.65. The company has a 50 day moving average price of $34.63 and a 200 day moving average price of $30.25. PTC Therapeutics has a 52 week low of $17.53 and a 52 week high of $42.14.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.20) EPS for the quarter, topping analysts’ consensus estimates of ($1.21) by $0.01. The firm had revenue of $210.12 million for the quarter, compared to analyst estimates of $160.27 million. As a group, research analysts anticipate that PTC Therapeutics will post -4.9 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Matthew B. Klein sold 3,361 shares of the company’s stock in a transaction on Friday, April 19th. The stock was sold at an average price of $24.89, for a total transaction of $83,655.29. Following the completion of the sale, the chief executive officer now directly owns 225,807 shares of the company’s stock, valued at $5,620,336.23. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Jerome B. Zeldis sold 20,000 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $38.24, for a total transaction of $764,800.00. Following the transaction, the director now directly owns 14,500 shares of the company’s stock, valued at $554,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matthew B. Klein sold 3,361 shares of the company’s stock in a transaction on Friday, April 19th. The shares were 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 in the company, valued at $5,620,336.23. The disclosure for this sale can be found here. Insiders sold a total of 24,323 shares of company stock worth $873,984 over the last 90 days. 5.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PTCT. Hexagon Capital Partners LLC increased its position in PTC Therapeutics by 132.0% in the 4th quarter. Hexagon Capital Partners LLC now owns 979 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 557 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of PTC Therapeutics during the 1st quarter valued at about $46,000. Headlands Technologies LLC increased its holdings in shares of PTC Therapeutics by 248.0% during the 4th 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 during the last quarter. Lazard Asset Management LLC increased its holdings in shares of PTC Therapeutics by 268.9% during the 1st quarter. Lazard Asset Management LLC now owns 6,504 shares of the biopharmaceutical company’s stock valued at $188,000 after acquiring an additional 4,741 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its holdings in shares of PTC Therapeutics by 349.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,727 shares of the biopharmaceutical company’s stock valued at $241,000 after acquiring an additional 6,786 shares during the last quarter.

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.