PTC Therapeutics, Inc. (NASDAQ:PTCT) Receives $33.67 Average Price Target from Brokerages

PTC Therapeutics, Inc. (NASDAQ:PTCT) has been assigned a consensus recommendation of “Hold” from the fourteen brokerages that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $35.67.

Several research analysts recently commented on the stock. Royal Bank of Canada increased their target price on shares of PTC Therapeutics from $22.00 to $28.00 and gave the stock a “sector perform” rating in a report on Friday, March 1st. TD Cowen dropped their price target on shares of PTC Therapeutics from $32.00 to $30.00 and set a “market perform” rating on the stock in a research report on Friday, March 1st. JPMorgan Chase & Co. upped their price target on shares of PTC Therapeutics from $43.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday. Jefferies Financial Group upped their price target on shares of PTC Therapeutics from $35.00 to $46.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Citigroup upped their price target on shares of PTC Therapeutics from $18.00 to $26.00 and gave the stock a “sell” rating in a research report on Tuesday.

Insider Activity at PTC Therapeutics

In related news, CEO Matthew B. Klein sold 3,361 shares of the company’s stock in a transaction dated 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 4,849 shares of company stock worth $124,107. Corporate insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On PTC Therapeutics

Several hedge funds have recently bought and sold shares of PTCT. Armistice Capital LLC increased its holdings in PTC Therapeutics by 90.0% in the 3rd quarter. Armistice Capital LLC now owns 6,150,000 shares of the biopharmaceutical company’s stock valued at $137,822,000 after buying an additional 2,914,000 shares during the period. Wellington Management Group LLP increased its holdings in PTC Therapeutics by 39.0% in the 3rd quarter. Wellington Management Group LLP now owns 9,436,188 shares of the biopharmaceutical company’s stock valued at $211,465,000 after buying an additional 2,649,824 shares during the period. Janus Henderson Group PLC increased its holdings in PTC Therapeutics by 40.5% in the 1st quarter. Janus Henderson Group PLC now owns 3,669,816 shares of the biopharmaceutical company’s stock valued at $106,744,000 after buying an additional 1,057,223 shares during the period. Vanguard Group Inc. increased its holdings in PTC Therapeutics by 10.8% in the 4th quarter. Vanguard Group Inc. now owns 8,800,843 shares of the biopharmaceutical company’s stock valued at $242,551,000 after buying an additional 855,354 shares during the period. Finally, Norges Bank bought a new position in PTC Therapeutics in the 4th quarter valued at about $15,058,000.

PTC Therapeutics Stock Down 0.5 %

PTC Therapeutics stock opened at $38.64 on Friday. PTC Therapeutics has a twelve month low of $17.53 and a twelve month high of $59.75. The company has a 50 day moving average of $29.63 and a 200-day moving average of $27.33. The stock has a market capitalization of $2.96 billion, a PE ratio of -5.03 and a beta of 0.63.

PTC Therapeutics (NASDAQ:PTCT) last announced its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.20) EPS for the quarter, topping the consensus estimate of ($1.21) by $0.01. The business had revenue of $210.12 million for the quarter, compared to analyst estimates of $160.27 million. Equities analysts anticipate that PTC Therapeutics will post -5.36 EPS for the current fiscal year.

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.