PTC Therapeutics (NASDAQ:PTCT – Get Free Report)‘s stock had its “overweight” rating reiterated by equities researchers at Cantor Fitzgerald in a report issued on Tuesday, Benzinga reports. They presently have a $64.00 price target on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price objective points to a potential upside of 87.35% from the company’s previous close.
Other research analysts have also recently issued reports about the company. Citigroup lifted their price objective on PTC Therapeutics from $18.00 to $26.00 and gave the company a “sell” rating in a research report on Tuesday, May 21st. Jefferies Financial Group increased their target price on PTC Therapeutics from $35.00 to $46.00 and gave the stock a “buy” rating in a research report on Monday, May 20th. Morgan Stanley increased their price objective on shares of PTC Therapeutics from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, July 12th. Robert W. Baird assumed coverage on shares of PTC Therapeutics in a research report on Wednesday, September 4th. They set an “outperform” rating and a $44.00 target price for the company. Finally, Raymond James raised shares of PTC Therapeutics from an “underperform” rating to a “market perform” rating in a research note on Monday, May 20th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $37.13.
View Our Latest Stock Report on PTCT
PTC Therapeutics Stock Performance
PTC Therapeutics (NASDAQ:PTCT – Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.16) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($0.16). The firm had revenue of $186.70 million for the quarter, compared to analyst estimates of $192.12 million. On average, equities analysts anticipate that PTC Therapeutics will post -5.09 earnings per share for the current year.
Insider Buying and Selling
In other PTC Therapeutics news, CFO Pierre Gravier sold 2,269 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $34.02, for a total value of $77,191.38. Following the completion of the sale, the chief financial officer now owns 53,531 shares of the company’s stock, valued at $1,821,124.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.50% of the stock is owned by corporate insiders.
Institutional Trading of PTC Therapeutics
A number of large investors have recently made changes to their positions in PTCT. Allspring Global Investments Holdings LLC purchased a new position in PTC Therapeutics in the 1st quarter worth about $46,000. Quest Partners LLC purchased a new position in shares of PTC Therapeutics during the second quarter worth approximately $128,000. Quarry LP raised its stake in shares of PTC Therapeutics by 100.0% during the second quarter. Quarry LP now owns 5,000 shares of the biopharmaceutical company’s stock valued at $153,000 after acquiring an additional 2,500 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of PTC Therapeutics by 268.9% during the first quarter. Lazard Asset Management LLC now owns 6,504 shares of the biopharmaceutical company’s stock valued at $188,000 after acquiring an additional 4,741 shares in the last quarter. Finally, Headlands Technologies LLC boosted its holdings in shares of PTC Therapeutics by 83.2% in the second quarter. Headlands Technologies LLC now owns 6,611 shares of the biopharmaceutical company’s stock valued at $202,000 after purchasing an additional 3,002 shares during the period.
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.
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