Brokerages Set PTC Therapeutics, Inc. (NASDAQ:PTCT) Price Target at $63.92

PTC Therapeutics, Inc. (NASDAQ:PTCT) has been given a consensus recommendation of “Moderate Buy” by the fifteen ratings firms that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $63.92.

A number of research analysts have commented on the stock. Bank of America raised shares of PTC Therapeutics from an “underperform” rating to a “neutral” rating and upped their target price for the company from $41.00 to $55.00 in a research report on Tuesday, March 11th. Morgan Stanley restated an “overweight” rating and set a $70.00 price target (up from $67.00) on shares of PTC Therapeutics in a research report on Friday, March 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $65.00 price objective on shares of PTC Therapeutics in a report on Tuesday, April 22nd. Scotiabank initiated coverage on PTC Therapeutics in a report on Friday, March 7th. They set a “sector perform” rating and a $55.00 target price for the company. Finally, StockNews.com lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, February 17th.

PTC Therapeutics Stock Performance

PTCT opened at $40.65 on Friday. PTC Therapeutics has a one year low of $28.72 and a one year high of $58.38. The stock has a market capitalization of $3.21 billion, a PE ratio of -6.84 and a beta of 0.52. The business’s 50 day moving average price is $49.80 and its 200 day moving average price is $47.05.

Insider Activity at PTC Therapeutics

In other PTC Therapeutics news, Director Stephanie Okey sold 5,000 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $54.00, for a total value of $270,000.00. Following the transaction, the director now directly owns 8,867 shares in the company, valued at approximately $478,818. This represents a 36.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lee Scott Golden sold 795 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total transaction of $39,829.50. Following the completion of the transaction, the executive vice president now directly owns 77,856 shares of the company’s stock, valued at approximately $3,900,585.60. This represents a 1.01 % decrease in their position. 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. Insiders own 5.50% of the company’s stock.

Institutional Trading of PTC Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of PTCT. Edgestream Partners L.P. acquired a new stake in shares of PTC Therapeutics during the first quarter worth $418,000. CWM LLC lifted its position in PTC Therapeutics by 390.9% during the first quarter. CWM LLC now owns 17,756 shares of the biopharmaceutical company’s stock worth $905,000 after buying an additional 14,139 shares during the period. New York State Common Retirement Fund boosted its stake in PTC Therapeutics by 8.5% in the 1st quarter. New York State Common Retirement Fund now owns 25,421 shares of the biopharmaceutical company’s stock worth $1,295,000 after buying an additional 2,000 shares during the last quarter. Xponance Inc. grew its holdings in PTC Therapeutics by 5.2% in the 1st quarter. Xponance Inc. now owns 6,372 shares of the biopharmaceutical company’s stock valued at $325,000 after buying an additional 314 shares during the period. Finally, Cerity Partners LLC acquired a new position in shares of PTC Therapeutics during the 1st quarter valued at about $641,000.

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.