PTC Therapeutics, Inc. (NASDAQ:PTCT) Receives $35.85 Consensus Price Target from Analysts

PTC Therapeutics, Inc. (NASDAQ:PTCT) has been assigned a consensus rating of “Hold” from the fourteen research firms that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $36.64.

PTCT has been the subject of a number of analyst reports. The Goldman Sachs Group upped their price objective on shares of PTC Therapeutics from $18.00 to $32.00 and gave the company a “sell” rating in a research note on Tuesday, May 28th. Barclays lifted their price objective on shares of PTC Therapeutics from $25.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Morgan Stanley raised their target price on PTC Therapeutics from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, July 12th. Jefferies Financial Group increased their price objective on PTC Therapeutics from $35.00 to $46.00 and gave the stock a “buy” rating in a research note on Monday, May 20th. Finally, UBS Group assumed coverage on shares of PTC Therapeutics in a research report on Monday, August 26th. They issued a “buy” rating and a $47.00 price target for the company.

PTC Therapeutics Stock Performance

NASDAQ PTCT opened at $35.32 on Monday. The stock has a market capitalization of $2.72 billion, a P/E ratio of -4.60 and a beta of 0.65. The business’s fifty day moving average is $33.07 and its two-hundred day moving average is $31.85. PTC Therapeutics has a 1 year low of $17.53 and a 1 year high of $41.93.

PTC Therapeutics (NASDAQ:PTCT) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.16). The firm had revenue of $186.70 million during the quarter, compared to the consensus estimate of $192.12 million. On average, research analysts forecast that PTC Therapeutics will post -5.09 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Pierre Gravier sold 2,269 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $34.02, for a total transaction of $77,191.38. Following the completion of the sale, the chief financial officer now owns 53,531 shares in the company, valued at approximately $1,821,124.62. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 5.50% of the company’s stock.

Institutional Trading of PTC Therapeutics

Large investors have recently modified their holdings of the company. Choreo LLC lifted its position in PTC Therapeutics by 4.1% during the 2nd quarter. Choreo LLC now owns 11,426 shares of the biopharmaceutical company’s stock worth $356,000 after acquiring an additional 452 shares during the last quarter. Hexagon Capital Partners LLC increased its position in PTC Therapeutics by 132.0% in the 4th quarter. Hexagon Capital Partners LLC now owns 979 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 557 shares during the period. Arizona State Retirement System lifted its holdings in shares of PTC Therapeutics by 3.4% during the second quarter. Arizona State Retirement System now owns 19,301 shares of the biopharmaceutical company’s stock worth $590,000 after buying an additional 636 shares during the last quarter. Diversified Trust Co increased its holdings in shares of PTC Therapeutics by 5.6% during the 2nd quarter. Diversified Trust Co now owns 15,317 shares of the biopharmaceutical company’s stock worth $468,000 after purchasing an additional 818 shares during the period. Finally, ProShare Advisors LLC raised its holdings in PTC Therapeutics by 9.3% in the 1st quarter. ProShare Advisors LLC now owns 18,313 shares of the biopharmaceutical company’s stock valued at $533,000 after acquiring an additional 1,564 shares in the last quarter.

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.