PTC Therapeutics (NASDAQ:PTCT) Receives Overweight Rating from JPMorgan Chase & Co.

JPMorgan Chase & Co. restated their overweight rating on shares of PTC Therapeutics (NASDAQ:PTCT) in a research report released on Thursday, Benzinga reports. The brokerage currently has a $53.00 target price on the biopharmaceutical company’s stock.

Several other equities analysts also recently weighed in on PTCT. Royal Bank of Canada raised their price objective on PTC Therapeutics from $22.00 to $28.00 and gave the company a sector perform rating in a research note on Friday, March 1st. TD Cowen cut their price target on PTC Therapeutics from $32.00 to $30.00 and set a market perform rating for the company in a research note on Friday, March 1st. The Goldman Sachs Group boosted their price objective on shares of PTC Therapeutics from $18.00 to $32.00 and gave the stock a sell rating in a research report on Tuesday, May 28th. Raymond James upgraded shares of PTC Therapeutics from an underperform rating to a market perform rating in a research report on Monday, May 20th. Finally, Morgan Stanley raised shares of PTC Therapeutics from an underweight rating to an equal weight rating and upped their price target for the company from $28.00 to $30.00 in a report on Monday, April 29th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, PTC Therapeutics has a consensus rating of Hold and a consensus target price of $36.27.

PTC Therapeutics Stock Performance

Shares of NASDAQ PTCT opened at $36.52 on Thursday. PTC Therapeutics has a one year low of $17.53 and a one year high of $43.31. The firm has a market capitalization of $2.80 billion, a P/E ratio of -4.76 and a beta of 0.70. The company’s fifty day moving average is $33.33 and its two-hundred day moving average is $29.78.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.20) EPS for the quarter, topping analysts’ consensus estimates of ($1.21) by $0.01. The company had revenue of $210.12 million for the quarter, compared to analysts’ expectations of $160.27 million. On average, sell-side analysts forecast that PTC Therapeutics will post -4.84 earnings per share for the current fiscal year.

Insider Buying and Selling

In other PTC Therapeutics news, CEO Matthew B. Klein sold 3,361 shares of PTC Therapeutics stock in a transaction on Friday, April 19th. The shares were sold at an average price of $24.89, for a total value of $83,655.29. Following the transaction, the chief executive officer now owns 225,807 shares in the company, valued at approximately $5,620,336.23. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Jerome B. Zeldis sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $38.24, for a total value of $764,800.00. Following the transaction, the director now owns 14,500 shares in the company, valued at $554,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew B. Klein sold 3,361 shares of the business’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $24.89, for a total transaction of $83,655.29. Following the sale, the chief executive officer now owns 225,807 shares of the company’s stock, valued at $5,620,336.23. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,849 shares of company stock valued at $888,907. Insiders own 5.50% of the company’s stock.

Institutional Trading of PTC Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. Burney Co. purchased a new stake in shares of PTC Therapeutics in the first quarter worth about $1,223,000. Jacobs Levy Equity Management Inc. lifted its position in PTC Therapeutics by 21.3% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,605,841 shares of the biopharmaceutical company’s stock worth $46,714,000 after acquiring an additional 282,422 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in PTC Therapeutics by 40.5% in the 1st quarter. Janus Henderson Group PLC now owns 3,669,816 shares of the biopharmaceutical company’s stock worth $106,744,000 after acquiring an additional 1,057,223 shares during the period. Lazard Asset Management LLC grew its position in PTC Therapeutics by 268.9% in 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, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of PTC Therapeutics during the first quarter valued at approximately $3,302,000.

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.