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

PTC Therapeutics, Inc. (NASDAQ:PTCT) has been assigned an average recommendation of “Hold” from the fifteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $54.08.

Several brokerages have recently issued reports on PTCT. Wells Fargo & Company upped their price objective on PTC Therapeutics from $56.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Royal Bank of Canada upgraded shares of PTC Therapeutics from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $39.00 to $63.00 in a report on Tuesday, December 3rd. Raymond James assumed coverage on shares of PTC Therapeutics in a report on Thursday, October 10th. They set a “market perform” rating for the company. Barclays upped their price objective on shares of PTC Therapeutics from $45.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 3rd. Finally, UBS Group boosted their price target on PTC Therapeutics from $47.00 to $71.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd.

PTC Therapeutics Price Performance

Shares of PTC Therapeutics stock opened at $45.88 on Friday. The business has a 50 day moving average price of $44.67 and a 200 day moving average price of $38.04. The company has a market capitalization of $3.54 billion, a P/E ratio of -7.72 and a beta of 0.63. PTC Therapeutics has a 1 year low of $23.58 and a 1 year high of $54.16.

Insider Buying and Selling at PTC Therapeutics

In other PTC Therapeutics news, Director Jerome B. Zeldis sold 24,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $51.50, for a total value of $1,236,000.00. Following the transaction, the director now directly owns 14,500 shares of the company’s stock, valued at $746,750. This trade represents a 62.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Mark Elliott Boulding sold 85,600 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $52.26, for a total value of $4,473,456.00. Following the transaction, the vice president now owns 92,389 shares in the company, valued at approximately $4,828,249.14. This represents a 48.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 196,950 shares of company stock valued at $10,251,735 over the last ninety days. Corporate insiders own 5.50% of the company’s stock.

Institutional Trading of PTC Therapeutics

Large investors have recently bought and sold shares of the company. KBC Group NV lifted its position in shares of PTC Therapeutics by 29.2% during the third quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock worth $83,000 after purchasing an additional 504 shares in the last quarter. CWM LLC increased its stake in PTC Therapeutics by 354.7% during the 3rd quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company’s stock worth $100,000 after buying an additional 2,096 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in PTC Therapeutics by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock worth $104,000 after buying an additional 492 shares in the last quarter. Quest Partners LLC purchased a new position in PTC Therapeutics in the 2nd quarter valued at about $128,000. Finally, Quarry LP boosted its position in PTC Therapeutics by 100.0% in the 2nd quarter. Quarry LP now owns 5,000 shares of the biopharmaceutical company’s stock valued at $153,000 after buying an additional 2,500 shares during 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.