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

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) have received an average rating of “Hold” from the fifteen brokerages that are covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $55.00.

A number of research analysts recently issued reports on the company. StockNews.com downgraded PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Raymond James assumed coverage on shares of PTC Therapeutics in a research note on Thursday, October 10th. They set a “market perform” rating for the company. The Goldman Sachs Group lifted their price objective on shares of PTC Therapeutics from $32.00 to $42.00 and gave the company a “sell” rating in a research note on Wednesday, December 4th. Barclays raised 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. Finally, Cantor Fitzgerald reduced their price objective on PTC Therapeutics from $80.00 to $76.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th.

PTC Therapeutics Stock Performance

Shares of NASDAQ PTCT opened at $45.22 on Thursday. The stock’s 50-day simple moving average is $45.81 and its 200-day simple moving average is $39.60. The firm has a market capitalization of $3.49 billion, a PE ratio of -7.61 and a beta of 0.62. PTC Therapeutics has a fifty-two week low of $23.58 and a fifty-two week high of $54.16.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($1.39) EPS for the quarter, topping the consensus estimate of ($1.54) by $0.15. The company had revenue of $196.79 million for the quarter, compared to analyst estimates of $173.51 million. During the same quarter in the prior year, the business earned ($1.76) earnings per share. On average, sell-side analysts forecast that PTC Therapeutics will post -4.66 earnings per share for the current fiscal year.

Insider Buying and Selling at PTC Therapeutics

In related news, CEO Matthew B. Klein sold 8,279 shares of the firm’s 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 directly owns 217,528 shares of the company’s stock, valued at $9,823,564.48. This trade represents a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Christine Marie Utter sold 1,291 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $45.34, for a total value of $58,533.94. Following the sale, the chief accounting officer now owns 65,983 shares in the company, valued at approximately $2,991,669.22. The trade was a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 211,737 shares of company stock valued at $10,920,687. Corporate insiders own 5.50% of the company’s stock.

Institutional Trading of PTC Therapeutics

Several large investors have recently modified their holdings of PTCT. Charles Schwab Investment Management Inc. lifted its stake in PTC Therapeutics by 7.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 706,730 shares of the biopharmaceutical company’s stock valued at $26,220,000 after buying an additional 47,902 shares in the last quarter. Two Sigma Advisers LP lifted its position in shares of PTC Therapeutics by 10.3% in the third quarter. Two Sigma Advisers LP now owns 429,842 shares of the biopharmaceutical company’s stock valued at $15,947,000 after acquiring an additional 40,300 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of PTC Therapeutics during the third quarter valued at $698,000. Quest Partners LLC increased its position in PTC Therapeutics by 433.9% during the 3rd quarter. Quest Partners LLC now owns 22,359 shares of the biopharmaceutical company’s stock worth $830,000 after purchasing an additional 18,171 shares in the last quarter. Finally, State Street Corp lifted its holdings in PTC Therapeutics by 5.4% in the 3rd quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company’s stock valued at $107,554,000 after purchasing an additional 149,700 shares in 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.