PTC Therapeutics, Inc. (NASDAQ:PTCT) Receives $58.85 Average PT from Brokerages

PTC Therapeutics, Inc. (NASDAQ:PTCT) has received an average rating of “Hold” from the fifteen brokerages that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $58.85.

Several equities analysts have recently issued reports on PTCT shares. Citigroup boosted their price objective on PTC Therapeutics from $32.00 to $45.00 and gave the company a “sell” rating in a report on Wednesday, February 12th. Wells Fargo & Company boosted their price objective on PTC Therapeutics from $56.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Royal Bank of Canada boosted their price objective on PTC Therapeutics from $60.00 to $63.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. StockNews.com cut PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Finally, Cantor Fitzgerald boosted their price objective on PTC Therapeutics from $76.00 to $113.00 and gave the company an “overweight” rating in a report on Monday, February 3rd.

PTC Therapeutics Stock Performance

PTC Therapeutics stock opened at $50.69 on Monday. The company has a market cap of $3.91 billion, a PE ratio of -8.53 and a beta of 0.62. The business’s 50-day simple moving average is $46.67 and its two-hundred day simple moving average is $41.62. PTC Therapeutics has a fifty-two week low of $24.00 and a fifty-two week high of $54.16.

Insiders Place Their Bets

In other PTC Therapeutics news, VP Mark Elliott Boulding sold 85,600 shares of the business’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 transaction of $4,473,456.00. Following the completion of the sale, the vice president now directly owns 92,389 shares in the company, valued at approximately $4,828,249.14. The trade was a 48.09 % 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 8,279 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $45.16, for a total value of $373,879.64. Following the sale, the chief executive officer now owns 217,528 shares of the company’s stock, valued at approximately $9,823,564.48. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 218,590 shares of company stock worth $11,264,023. Corporate insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On PTC Therapeutics

Large investors have recently made changes to their positions in the stock. Smartleaf Asset Management LLC grew its position in shares of PTC Therapeutics by 78.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 270 shares in the last quarter. Sterling Capital Management LLC grew its position in shares of PTC Therapeutics by 424.4% in the fourth quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 522 shares in the last quarter. Venturi Wealth Management LLC purchased a new stake in shares of PTC Therapeutics in the fourth quarter valued at approximately $68,000. GF Fund Management CO. LTD. purchased a new stake in shares of PTC Therapeutics in the fourth quarter valued at approximately $73,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of PTC Therapeutics in the fourth quarter valued at approximately $77,000.

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.