PTC Therapeutics, Inc. (NASDAQ:PTCT) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) have received an average recommendation of “Moderate Buy” from the fifteen analysts that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, four have issued 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 target among analysts that have issued a report on the stock in the last year is $64.00.

A number of research analysts recently commented on the company. Royal Bank of Canada raised their price target on PTC Therapeutics from $60.00 to $63.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Bank of America raised shares of PTC Therapeutics from an “underperform” rating to a “neutral” rating and raised their target price for the company from $41.00 to $55.00 in a report on Tuesday, March 11th. Citigroup upped their price target on shares of PTC Therapeutics from $32.00 to $45.00 and gave the stock a “sell” rating in a report on Wednesday, February 12th. UBS Group raised their target price on PTC Therapeutics from $47.00 to $71.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Finally, Barclays boosted their price target on PTC Therapeutics from $45.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 3rd.

Insider Activity

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, VP Mark Elliott Boulding sold 15,521 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $53.30, for a total value of $827,269.30. Following the completion of the transaction, the vice president now owns 103,901 shares of the company’s stock, valued at approximately $5,537,923.30. This trade represents a 13.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,391 shares of company stock valued at $2,172,927. 5.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PTC Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC raised its holdings in PTC Therapeutics by 78.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company’s stock worth $28,000 after acquiring an additional 270 shares during the last quarter. Sterling Capital Management LLC increased its holdings in shares of PTC Therapeutics by 424.4% in the 4th quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 522 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in shares of PTC Therapeutics in the fourth quarter worth $68,000. GF Fund Management CO. LTD. bought a new position in shares of PTC Therapeutics during the fourth quarter valued at $73,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of PTC Therapeutics during the fourth quarter valued at $77,000.

PTC Therapeutics Trading Down 3.0 %

NASDAQ:PTCT opened at $55.47 on Friday. The stock has a 50 day simple moving average of $49.05 and a 200 day simple moving average of $43.92. PTC Therapeutics has a 1-year low of $24.00 and a 1-year high of $58.38. The stock has a market cap of $4.37 billion, a P/E ratio of -9.34 and a beta of 0.66.

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.