PTC Therapeutics (NASDAQ:PTCT) Rating Increased to Buy at StockNews.com

PTC Therapeutics (NASDAQ:PTCT) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

Several other brokerages also recently commented on PTCT. Robert W. Baird upped their target price on PTC Therapeutics from $52.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Barclays upped their target price on PTC Therapeutics from $45.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday, December 3rd. UBS Group increased their price objective on PTC Therapeutics from $47.00 to $71.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada raised PTC Therapeutics from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $39.00 to $63.00 in a research note on Tuesday, December 3rd. Finally, The Goldman Sachs Group increased their price objective on PTC Therapeutics from $32.00 to $42.00 and gave the stock a “sell” rating in a research note on Wednesday, December 4th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $57.85.

PTC Therapeutics Trading Down 0.6 %

PTCT stock traded down $0.32 during trading hours on Friday, hitting $49.47. 425,361 shares of the stock traded hands, compared to its average volume of 704,350. The stock has a 50-day simple moving average of $46.33 and a 200 day simple moving average of $40.19. PTC Therapeutics has a one year low of $23.58 and a one year high of $54.16. The company has a market cap of $3.82 billion, a P/E ratio of -8.33 and a beta of 0.62.

PTC Therapeutics (NASDAQ:PTCT) last announced its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($1.39) EPS for the quarter, beating the consensus estimate of ($1.54) by $0.15. The company had revenue of $196.79 million for the quarter, compared to analysts’ expectations of $173.51 million. During the same period in the prior year, the company earned ($1.76) earnings per share. Analysts forecast that PTC Therapeutics will post -4.56 earnings per share for the current year.

Insider Activity at PTC Therapeutics

In other news, VP Mark Elliott Boulding sold 85,600 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $52.26, for a total transaction of $4,473,456.00. Following the sale, the vice president now directly owns 92,389 shares in the company, valued at approximately $4,828,249.14. The trade was a 48.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Matthew B. Klein sold 8,279 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $45.16, for a total value of $373,879.64. Following the sale, the chief executive officer now owns 217,528 shares in the company, valued at approximately $9,823,564.48. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 211,737 shares of company stock worth $10,920,687 in the last ninety days. 5.50% of the stock is currently owned by insiders.

Institutional Trading of PTC Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Arizona State Retirement System increased its position in shares of PTC Therapeutics by 1.1% during the fourth quarter. Arizona State Retirement System now owns 20,095 shares of the biopharmaceutical company’s stock valued at $907,000 after purchasing an additional 219 shares during the period. Choreo LLC grew its position in PTC Therapeutics by 2.0% in the fourth quarter. Choreo LLC now owns 11,961 shares of the biopharmaceutical company’s stock valued at $541,000 after acquiring an additional 240 shares during the period. Smartleaf Asset Management LLC grew its position in PTC Therapeutics by 78.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 270 shares during the period. Janney Montgomery Scott LLC grew its position in PTC Therapeutics by 8.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 5,965 shares of the biopharmaceutical company’s stock valued at $269,000 after acquiring an additional 455 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in PTC Therapeutics by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock valued at $104,000 after acquiring an additional 492 shares during the period.

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.