Brokerages Set PTC Therapeutics, Inc. (NASDAQ:PTCT) Target Price at $65.00

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) have been assigned an average recommendation of “Moderate Buy” from the fifteen research firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $65.00.

Several equities research analysts have commented on the stock. Robert W. Baird dropped their price target on shares of PTC Therapeutics from $70.00 to $66.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 7th. Royal Bank Of Canada upped their price target on PTC Therapeutics from $57.00 to $58.00 and gave the company an “outperform” rating in a report on Wednesday, May 7th. Wall Street Zen lowered PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 16th. Barclays decreased their target price on PTC Therapeutics from $56.00 to $42.00 and set an “equal weight” rating on the stock in a report on Thursday, May 8th. Finally, Wells Fargo & Company upped their target price on PTC Therapeutics from $68.00 to $74.00 and gave the company an “overweight” rating in a report on Tuesday, May 27th.

Insider Buying and Selling at PTC Therapeutics

In other news, VP Mark Elliott Boulding sold 1,929 shares of PTC Therapeutics stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $46.18, for a total transaction of $89,081.22. Following the sale, the vice president directly owned 103,901 shares in the company, valued at approximately $4,798,148.18. The trade was a 1.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Pierre Gravier sold 2,516 shares of PTC Therapeutics stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $49.46, for a total transaction of $124,441.36. Following the transaction, the chief financial officer directly owned 71,920 shares of the company’s stock, valued at $3,557,163.20. This represents a 3.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,132 shares of company stock valued at $390,825 in the last quarter. Corporate insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On PTC Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PTCT. Sterling Capital Management LLC raised its stake in shares of PTC Therapeutics by 424.4% during the fourth quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 522 shares during the last quarter. Quantbot Technologies LP raised its position in shares of PTC Therapeutics by 545.5% during the 1st quarter. Quantbot Technologies LP now owns 652 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 551 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of PTC Therapeutics by 84.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 700 shares of the biopharmaceutical company’s stock valued at $36,000 after acquiring an additional 320 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of PTC Therapeutics by 86.3% in the 1st quarter. GAMMA Investing LLC now owns 952 shares of the biopharmaceutical company’s stock valued at $49,000 after purchasing an additional 441 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of PTC Therapeutics in the 1st quarter worth $61,000.

PTC Therapeutics Stock Performance

NASDAQ:PTCT opened at $47.63 on Thursday. PTC Therapeutics has a one year low of $29.02 and a one year high of $58.38. The stock has a 50-day simple moving average of $48.83 and a 200 day simple moving average of $48.50. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of 7.32 and a beta of 0.50.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported $10.04 earnings per share for the quarter, beating the consensus estimate of $0.85 by $9.19. PTC Therapeutics had a net margin of 33.56% and a negative return on equity of 78.56%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $437.16 million. During the same period last year, the firm posted ($1.20) EPS. PTC Therapeutics’s quarterly revenue was down 9.6% compared to the same quarter last year. On average, equities research analysts forecast that PTC Therapeutics will post -4.52 EPS for the current fiscal year.

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.