PTC Therapeutics’ (PTCT) Overweight Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of PTC Therapeutics (NASDAQ:PTCT) in a report released on Tuesday morning, Benzinga reports. They currently have a $64.00 price objective on the biopharmaceutical company’s stock.

Several other research firms also recently weighed in on PTCT. Barclays increased their price objective on PTC Therapeutics from $25.00 to $31.00 and gave the company an equal weight rating in a report on Friday, August 9th. Jefferies Financial Group raised their price objective on shares of PTC Therapeutics from $35.00 to $46.00 and gave the stock a buy rating in a research report on Monday, May 20th. The Goldman Sachs Group upped their target price on shares of PTC Therapeutics from $18.00 to $32.00 and gave the company a sell rating in a report on Tuesday, May 28th. Baird R W raised PTC Therapeutics to a strong-buy rating in a report on Wednesday, September 4th. Finally, UBS Group assumed coverage on PTC Therapeutics in a research note on Monday, August 26th. They set a buy rating and a $47.00 price objective for the company. Three analysts have rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $37.64.

PTC Therapeutics Price Performance

NASDAQ PTCT opened at $36.64 on Tuesday. The firm’s fifty day moving average price is $33.41 and its 200 day moving average price is $32.42. PTC Therapeutics has a 12 month low of $17.53 and a 12 month high of $40.69. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of -4.77 and a beta of 0.64.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($0.16). The business had revenue of $186.70 million during the quarter, compared to the consensus estimate of $192.12 million. As a group, sell-side analysts forecast that PTC Therapeutics will post -5.09 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Pierre Gravier sold 2,269 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $34.02, for a total value of $77,191.38. Following the sale, the chief financial officer now directly owns 53,531 shares in the company, valued at approximately $1,821,124.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 5.50% of the stock is currently owned by insiders.

Institutional Trading of PTC Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC acquired a new position in shares of PTC Therapeutics during the 1st quarter worth approximately $46,000. Quest Partners LLC acquired a new position in shares of PTC Therapeutics in the second quarter worth $128,000. Quarry LP lifted its position in shares of PTC Therapeutics by 100.0% in the second quarter. Quarry LP now owns 5,000 shares of the biopharmaceutical company’s stock valued at $153,000 after acquiring an additional 2,500 shares in the last quarter. Lazard Asset Management LLC boosted 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 acquiring an additional 4,741 shares during the last quarter. Finally, Headlands Technologies LLC increased its position in PTC Therapeutics by 83.2% during the 2nd quarter. Headlands Technologies LLC now owns 6,611 shares of the biopharmaceutical company’s stock worth $202,000 after purchasing an additional 3,002 shares in 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.