PTC Therapeutics, Inc. (NASDAQ:PTCT) Given Average Recommendation of “Hold” by Brokerages

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCTGet Free Report) have been assigned a consensus rating of “Hold” from the fourteen analysts that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $37.40.

A number of analysts recently issued reports on PTCT shares. Citigroup boosted their price objective on PTC Therapeutics from $18.00 to $26.00 and gave the company a “sell” rating in a research note on Tuesday, May 21st. Cantor Fitzgerald boosted their price objective on PTC Therapeutics from $52.00 to $62.00 and gave the stock an “overweight” rating in a report on Monday, July 1st. Raymond James upgraded shares of PTC Therapeutics from an “underperform” rating to a “market perform” rating in a research report on Monday, May 20th. JPMorgan Chase & Co. restated an “overweight” rating and set a $53.00 price target on shares of PTC Therapeutics in a research report on Thursday, June 20th. Finally, The Goldman Sachs Group upped their target price on PTC Therapeutics from $18.00 to $32.00 and gave the stock a “sell” rating in a research note on Tuesday, May 28th.

Check Out Our Latest Stock Analysis on PTCT

PTC Therapeutics Stock Performance

Shares of PTC Therapeutics stock opened at $30.93 on Friday. The stock has a market capitalization of $2.37 billion, a P/E ratio of -4.03 and a beta of 0.65. PTC Therapeutics has a 52-week low of $17.53 and a 52-week high of $42.63. The stock’s 50-day simple moving average is $34.71 and its 200 day simple moving average is $30.15.

PTC Therapeutics (NASDAQ:PTCTGet Free Report) last posted its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.21) by $0.01. The business had revenue of $210.12 million during the quarter, compared to the consensus estimate of $160.27 million. Equities research analysts forecast that PTC Therapeutics will post -4.9 EPS for the current fiscal year.

Insider Activity at PTC Therapeutics

In related news, CEO Matthew B. Klein sold 3,361 shares of the firm’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $24.89, for a total transaction of $83,655.29. Following the completion of the transaction, the chief executive officer now directly owns 225,807 shares of the company’s stock, valued at $5,620,336.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Matthew B. Klein sold 3,361 shares of the company’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $24.89, for a total transaction of $83,655.29. Following the sale, the chief executive officer now directly owns 225,807 shares of the company’s stock, valued at approximately $5,620,336.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jerome B. Zeldis sold 20,000 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $38.24, for a total transaction of $764,800.00. Following the sale, the director now directly owns 14,500 shares in the company, valued at approximately $554,480. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,323 shares of company stock valued at $873,984. 5.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On PTC Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in PTCT. Hexagon Capital Partners LLC lifted its stake in PTC Therapeutics by 132.0% in the fourth quarter. Hexagon Capital Partners LLC now owns 979 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 557 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in PTC Therapeutics during the 1st quarter valued at $46,000. Headlands Technologies LLC grew its position in PTC Therapeutics by 248.0% in the 4th quarter. Headlands Technologies LLC now owns 4,684 shares of the biopharmaceutical company’s stock valued at $129,000 after acquiring an additional 3,338 shares during the last quarter. Lazard Asset Management LLC increased its stake in PTC Therapeutics by 268.9% in the first quarter. Lazard Asset Management LLC now owns 6,504 shares of the biopharmaceutical company’s stock worth $188,000 after purchasing an additional 4,741 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its position in shares of PTC Therapeutics by 349.6% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,727 shares of the biopharmaceutical company’s stock worth $241,000 after purchasing an additional 6,786 shares during the last quarter.

About PTC Therapeutics

(Get Free Report

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.

See Also

Analyst Recommendations for PTC Therapeutics (NASDAQ:PTCT)

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