PTC Therapeutics, Inc. (NASDAQ:PTCT) Given Average Rating of “Hold” by Brokerages

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) have received a consensus rating of “Hold” from the fifteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $54.08.

A number of analysts recently weighed in on the company. Citigroup lifted their price target on PTC Therapeutics from $26.00 to $32.00 and gave the company a “sell” rating in a research note on Wednesday, December 4th. Wells Fargo & Company upped their price target on shares of PTC Therapeutics from $56.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Royal Bank of Canada upgraded shares of PTC Therapeutics from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $39.00 to $63.00 in a research note on Tuesday, December 3rd. The Goldman Sachs Group upped their target price on shares of PTC Therapeutics from $32.00 to $42.00 and gave the stock a “sell” rating in a research report on Wednesday, December 4th. Finally, Barclays lifted their price target on shares of PTC Therapeutics from $45.00 to $56.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 3rd.

Insiders Place Their Bets

In other PTC Therapeutics news, insider Neil Gregory Almstead sold 69,550 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $52.06, for a total transaction of $3,620,773.00. Following the transaction, the insider now owns 86,202 shares of the company’s stock, valued at $4,487,676.12. This represents a 44.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Christine Marie Utter sold 17,800 shares of PTC Therapeutics stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $51.77, for a total value of $921,506.00. Following the completion of the sale, the chief accounting officer now directly owns 52,428 shares of the company’s stock, valued at approximately $2,714,197.56. This represents a 25.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 205,229 shares of company stock valued at $10,625,615 in the last ninety days. Insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Point72 Asset Management L.P. grew its holdings in PTC Therapeutics by 945.6% in the third quarter. Point72 Asset Management L.P. now owns 575,860 shares of the biopharmaceutical company’s stock valued at $21,364,000 after purchasing an additional 643,960 shares during the period. Armistice Capital LLC increased its holdings in shares of PTC Therapeutics by 2.9% during the 2nd quarter. Armistice Capital LLC now owns 6,962,227 shares of the biopharmaceutical company’s stock worth $212,905,000 after buying an additional 198,227 shares during the last quarter. Parkman Healthcare Partners LLC purchased a new position in shares of PTC Therapeutics in the 3rd quarter worth $7,234,000. Ensign Peak Advisors Inc boosted its holdings in PTC Therapeutics by 650.9% in the second quarter. Ensign Peak Advisors Inc now owns 208,302 shares of the biopharmaceutical company’s stock valued at $6,370,000 after acquiring an additional 180,561 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in PTC Therapeutics by 123.2% in the second quarter. Millennium Management LLC now owns 317,579 shares of the biopharmaceutical company’s stock valued at $9,712,000 after acquiring an additional 175,289 shares during the last quarter.

PTC Therapeutics Trading Up 1.4 %

Shares of PTCT opened at $46.54 on Friday. The stock’s 50 day moving average is $44.78 and its two-hundred day moving average is $38.11. PTC Therapeutics has a twelve month low of $23.58 and a twelve month high of $54.16. The firm has a market capitalization of $3.59 billion, a PE ratio of -7.84 and a beta of 0.62.

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.