PTC Therapeutics, Inc. (NASDAQ:PTCT) Receives Consensus Rating of “Moderate Buy” from Brokerages

PTC Therapeutics, Inc. (NASDAQ:PTCT) has been given an average recommendation of “Moderate Buy” by the fifteen ratings firms that are currently covering the stock, 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 1 year target price among analysts that have issued a report on the stock in the last year is $63.77.

Several research firms have commented on PTCT. Citigroup lifted their target price on shares of PTC Therapeutics from $32.00 to $45.00 and gave the stock a “sell” rating in a research report on Wednesday, February 12th. Royal Bank of Canada lifted their price target on PTC Therapeutics from $60.00 to $63.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Bank of America upgraded PTC Therapeutics from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $41.00 to $55.00 in a research note on Tuesday, March 11th. StockNews.com cut PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Finally, Cantor Fitzgerald increased their price target 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.

Insider Activity

In other news, CFO Pierre Gravier sold 1,168 shares of the firm’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 value of $58,516.80. Following the completion of the transaction, the chief financial officer now directly owns 75,603 shares in the company, valued at approximately $3,787,710.30. This trade represents a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lee Scott Golden sold 795 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $50.10, for a total transaction of $39,829.50. Following the sale, the executive vice president now directly owns 77,856 shares in the company, valued at $3,900,585.60. This trade represents a 1.01 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,501 shares of company stock worth $1,546,088. 5.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. State Street Corp raised its holdings in PTC Therapeutics by 5.4% during the 3rd quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company’s stock valued at $107,554,000 after buying an additional 149,700 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in shares of PTC Therapeutics by 10.3% during the third quarter. Two Sigma Advisers LP now owns 429,842 shares of the biopharmaceutical company’s stock worth $15,947,000 after purchasing an additional 40,300 shares during the period. Geode Capital Management LLC grew its stake in shares of PTC Therapeutics by 0.6% in the third quarter. Geode Capital Management LLC now owns 1,798,666 shares of the biopharmaceutical company’s stock worth $66,743,000 after purchasing an additional 10,886 shares during the last quarter. Diversified Trust Co increased its holdings in PTC Therapeutics by 10.4% during the 4th quarter. Diversified Trust Co now owns 16,818 shares of the biopharmaceutical company’s stock valued at $759,000 after purchasing an additional 1,578 shares during the period. Finally, Janney Montgomery Scott LLC raised its position in PTC Therapeutics by 8.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 5,965 shares of the biopharmaceutical company’s stock valued at $269,000 after purchasing an additional 455 shares during the last quarter.

PTC Therapeutics Price Performance

Shares of PTCT stock opened at $42.82 on Tuesday. PTC Therapeutics has a one year low of $24.00 and a one year high of $58.38. The company has a market cap of $3.38 billion, a P/E ratio of -7.21 and a beta of 0.58. The firm has a 50-day moving average of $51.16 and a 200-day moving average of $45.75.

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.