Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) have received an average rating of “Buy” from the twelve research firms that are presently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $50.63.
Several brokerages recently weighed in on PTCT. Bank of America upgraded shares of PTC Therapeutics from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $43.00 to $49.00 in a research report on Monday, May 13th. Cowen reiterated a “hold” rating on shares of PTC Therapeutics in a research report on Wednesday, May 8th. Citigroup set a $59.00 price objective on shares of PTC Therapeutics and gave the company a “buy” rating in a research report on Friday, May 3rd. ValuEngine downgraded shares of PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 17th. Finally, Zacks Investment Research downgraded shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, July 16th.
NASDAQ:PTCT traded down $0.01 during mid-day trading on Friday, hitting $47.10. The stock had a trading volume of 373,812 shares, compared to its average volume of 437,637. The stock has a market capitalization of $2.78 billion, a PE ratio of -25.60 and a beta of 1.76. The stock’s 50 day moving average is $44.49. PTC Therapeutics has a 52 week low of $27.53 and a 52 week high of $48.99. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.73 and a quick ratio of 3.24.
In other PTC Therapeutics news, CAO Christine Marie Utter sold 988 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $45.00, for a total transaction of $44,460.00. Following the sale, the chief accounting officer now directly owns 5,173 shares in the company, valued at approximately $232,785. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Mark Elliott Boulding sold 181,667 shares of PTC Therapeutics stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $45.00, for a total transaction of $8,175,015.00. The disclosure for this sale can be found here. Insiders have sold a total of 295,091 shares of company stock worth $13,251,718 over the last 90 days. 7.00% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in PTCT. Focused Wealth Management Inc acquired a new position in shares of PTC Therapeutics in the 2nd quarter worth approximately $54,000. Botty Investors LLC acquired a new position in shares of PTC Therapeutics in the 1st quarter worth approximately $75,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of PTC Therapeutics by 14.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,122 shares of the biopharmaceutical company’s stock worth $118,000 after purchasing an additional 390 shares during the last quarter. Aperio Group LLC acquired a new position in shares of PTC Therapeutics in the 2nd quarter worth approximately $168,000. Finally, NumerixS Investment Technologies Inc grew its stake in shares of PTC Therapeutics by 400.0% in the 1st quarter. NumerixS Investment Technologies Inc now owns 5,000 shares of the biopharmaceutical company’s stock worth $182,000 after purchasing an additional 4,000 shares during the last quarter.
PTC Therapeutics Company Profile
PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines for the treatment of rare disorders. The company offers Translarna (ataluren) and Emflaza (deflazacort) for the treatment of nonsense mutation Duchenne muscular dystrophy in ambulatory patients.
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