PTC Therapeutics’ (PTCT) Outperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of PTC Therapeutics (NASDAQ:PTCT) in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $65.00 price objective on the biopharmaceutical company’s stock.

Several other analysts have also issued reports on the company. Citigroup upped their price objective on PTC Therapeutics from $32.00 to $45.00 and gave the company a “sell” rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. dropped their price target on PTC Therapeutics from $78.00 to $75.00 and set an “overweight” rating on the stock in a research note on Monday, March 31st. Morgan Stanley reaffirmed an “overweight” rating and set a $70.00 price objective (up from $67.00) on shares of PTC Therapeutics in a research report on Friday, March 7th. Cantor Fitzgerald increased their price objective on shares of PTC Therapeutics from $76.00 to $113.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Scotiabank began coverage on shares of PTC Therapeutics in a report on Friday, March 7th. They set a “sector perform” rating and a $55.00 target price for the company. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.92.

PTC Therapeutics Price Performance

Shares of PTCT opened at $49.55 on Tuesday. The company has a market cap of $3.91 billion, a PE ratio of -8.34 and a beta of 0.58. The firm has a 50-day moving average of $50.07 and a 200-day moving average of $46.46. PTC Therapeutics has a one year low of $24.00 and a one year high of $58.38.

Insider Transactions at PTC Therapeutics

In other news, Director Allan Steven Jacobson sold 1,230 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $51.52, for a total transaction of $63,369.60. Following the completion of the transaction, the director now owns 19,118 shares of the company’s stock, valued at approximately $984,959.36. The trade was a 6.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew B. Klein sold 2,804 shares of the company’s stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $48.74, for a total value of $136,666.96. Following the sale, the chief executive officer now owns 273,234 shares of the company’s stock, valued at approximately $13,317,425.16. This represents a 1.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,305 shares of company stock valued at $1,682,755. 5.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PTCT. Vontobel Holding Ltd. bought a new stake in shares of PTC Therapeutics during the 4th quarter valued at approximately $521,000. Raymond James Financial Inc. bought a new stake in shares of PTC Therapeutics during the fourth quarter worth $2,200,000. Natixis Advisors LLC acquired a new position in shares of PTC Therapeutics during the fourth quarter worth $544,000. Proficio Capital Partners LLC bought a new position in shares of PTC Therapeutics in the 4th quarter valued at $758,000. Finally, American Century Companies Inc. boosted its holdings in shares of PTC Therapeutics by 66.8% during the 4th quarter. American Century Companies Inc. now owns 60,150 shares of the biopharmaceutical company’s stock valued at $2,715,000 after acquiring an additional 24,090 shares in 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.