PTC Therapeutics, Inc. (NASDAQ:PTCT) Receives Average Rating of “Hold” from Brokerages

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) have earned an average rating of “Hold” from the fifteen brokerages that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $55.00.

A number of research firms have recently issued reports on PTCT. Citigroup upped their price objective on PTC Therapeutics from $26.00 to $32.00 and gave the stock a “sell” rating in a report on Wednesday, December 4th. Robert W. Baird upped their price objective on PTC Therapeutics from $52.00 to $70.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Barclays upped their price objective on PTC Therapeutics from $45.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 3rd. The Goldman Sachs Group increased their target price on PTC Therapeutics from $32.00 to $42.00 and gave the company a “sell” rating in a report on Wednesday, December 4th. Finally, Morgan Stanley upgraded PTC Therapeutics from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $45.00 to $67.00 in a report on Friday, December 13th.

PTC Therapeutics Stock Down 0.4 %

Shares of NASDAQ PTCT opened at $45.08 on Thursday. The firm has a market capitalization of $3.48 billion, a P/E ratio of -7.59 and a beta of 0.62. The stock’s 50-day simple moving average is $45.25 and its two-hundred day simple moving average is $39.09. PTC Therapeutics has a twelve month low of $23.58 and a twelve month high of $54.16.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($1.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.54) by $0.15. The firm had revenue of $196.79 million during the quarter, compared to analysts’ expectations of $173.51 million. During the same quarter in the previous year, the company posted ($1.76) earnings per share. As a group, research analysts anticipate that PTC Therapeutics will post -4.75 EPS for the current fiscal year.

Insider Transactions at PTC Therapeutics

In other news, CEO Matthew B. Klein sold 8,279 shares of the stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $45.16, for a total value of $373,879.64. Following the completion of the transaction, the chief executive officer now owns 217,528 shares of the company’s stock, valued at approximately $9,823,564.48. This represents a 3.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Christine Marie Utter sold 17,800 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $51.77, for a total value of $921,506.00. Following the transaction, the chief accounting officer now directly owns 52,428 shares of the company’s stock, valued at approximately $2,714,197.56. This trade represents a 25.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 211,737 shares of company stock valued at $10,920,687. Corporate insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. increased its holdings in shares of PTC Therapeutics by 108.7% in the 2nd quarter. American Century Companies Inc. now owns 37,394 shares of the biopharmaceutical company’s stock worth $1,144,000 after purchasing an additional 19,475 shares in the last quarter. Ensign Peak Advisors Inc increased its holdings in shares of PTC Therapeutics by 650.9% in the 2nd quarter. Ensign Peak Advisors Inc now owns 208,302 shares of the biopharmaceutical company’s stock worth $6,370,000 after purchasing an additional 180,561 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of PTC Therapeutics in the 2nd quarter worth $1,681,000. Marshall Wace LLP increased its holdings in shares of PTC Therapeutics by 708.7% in the 2nd quarter. Marshall Wace LLP now owns 179,679 shares of the biopharmaceutical company’s stock worth $5,495,000 after purchasing an additional 157,460 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its stake in shares of PTC Therapeutics by 33.9% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 478,441 shares of the biopharmaceutical company’s stock worth $14,631,000 after buying an additional 121,139 shares during the last quarter.

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.