StockNews.com Downgrades PTC Therapeutics (NASDAQ:PTCT) to Hold

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

PTCT has been the subject of a number of other reports. UBS Group raised their price objective on shares of PTC Therapeutics from $47.00 to $71.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Citigroup lifted their price target on PTC Therapeutics from $32.00 to $45.00 and gave the company a “sell” rating in a research report on Wednesday, February 12th. Morgan Stanley upgraded shares of PTC Therapeutics from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $45.00 to $67.00 in a research report on Friday, December 13th. Robert W. Baird raised their price target on PTC Therapeutics from $52.00 to $70.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Royal Bank of Canada upgraded PTC Therapeutics from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $39.00 to $63.00 in a report on Tuesday, December 3rd. Three research analysts have rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $58.85.

PTC Therapeutics Stock Performance

PTCT stock traded up $2.15 during midday trading on Monday, reaching $51.82. 795,586 shares of the company’s stock traded hands, compared to its average volume of 727,904. The firm has a market capitalization of $4.00 billion, a PE ratio of -8.72 and a beta of 0.62. The company has a 50-day moving average price of $46.52 and a two-hundred day moving average price of $41.10. PTC Therapeutics has a 52 week low of $24.00 and a 52 week high of $54.16.

Insider Transactions at PTC Therapeutics

In related news, EVP Lee Scott Golden sold 810 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $45.34, for a total transaction of $36,725.40. Following the transaction, the executive vice president now owns 79,849 shares in the company, valued at $3,620,353.66. The trade was a 1.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Mark Elliott Boulding sold 85,600 shares of the company’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 value of $4,473,456.00. Following the transaction, the vice president now owns 92,389 shares in the company, valued at $4,828,249.14. This trade represents a 48.09 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 211,737 shares of company stock worth $10,920,687. 5.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PTCT. Toronto Dominion Bank purchased a new position in PTC Therapeutics in the 4th quarter worth approximately $148,363,000. Driehaus Capital Management LLC bought a new stake in shares of PTC Therapeutics in the 4th quarter worth $46,993,000. Point72 Asset Management L.P. raised its stake in shares of PTC Therapeutics by 150.6% in the fourth quarter. Point72 Asset Management L.P. now owns 1,443,362 shares of the biopharmaceutical company’s stock worth $65,153,000 after purchasing an additional 867,502 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of PTC Therapeutics by 24.4% in the fourth quarter. Janus Henderson Group PLC now owns 2,325,915 shares of the biopharmaceutical company’s stock worth $105,015,000 after purchasing an additional 455,698 shares during the last quarter. Finally, Pictet Asset Management Holding SA lifted its holdings in shares of PTC Therapeutics by 107.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 736,388 shares of the biopharmaceutical company’s stock valued at $33,241,000 after purchasing an additional 381,319 shares in the last quarter.

About PTC Therapeutics

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.