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

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) have earned an average rating of “Hold” from the fifteen ratings firms that are covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $58.85.

A number of equities research analysts have recently weighed in on PTCT shares. Citigroup boosted their target price on PTC Therapeutics from $32.00 to $45.00 and gave the stock a “sell” rating in a research report on Wednesday, February 12th. Morgan Stanley upgraded PTC Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $45.00 to $67.00 in a research report on Friday, December 13th. Robert W. Baird lifted their price objective on PTC Therapeutics from $52.00 to $70.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada lifted their price objective on PTC Therapeutics from $60.00 to $63.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, UBS Group lifted their price objective on PTC Therapeutics from $47.00 to $71.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd.

PTC Therapeutics Stock Up 0.6 %

PTCT stock opened at $50.69 on Monday. The company has a market cap of $3.91 billion, a P/E ratio of -8.53 and a beta of 0.62. PTC Therapeutics has a twelve month low of $24.00 and a twelve month high of $54.16. The business has a fifty day moving average of $46.67 and a 200-day moving average of $41.49.

Insider Buying and Selling at PTC Therapeutics

In other news, CAO Christine Marie Utter sold 879 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $50.10, for a total transaction of $44,037.90. Following the completion of the transaction, the chief accounting officer now directly owns 63,442 shares of the company’s stock, valued at $3,178,444.20. This represents a 1.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Mark Elliott Boulding sold 85,600 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $52.26, for a total value of $4,473,456.00. Following the transaction, the vice president now directly owns 92,389 shares of the company’s stock, valued at $4,828,249.14. This represents a 48.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 218,590 shares of company stock valued at $11,264,023. Company insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PTCT. Toronto Dominion Bank acquired a new position in shares of PTC Therapeutics during the fourth quarter worth about $148,363,000. Driehaus Capital Management LLC acquired a new position in shares of PTC Therapeutics during the fourth quarter worth about $46,993,000. Point72 Asset Management L.P. boosted its position in shares of PTC Therapeutics by 150.6% during the fourth quarter. Point72 Asset Management L.P. now owns 1,443,362 shares of the biopharmaceutical company’s stock worth $65,153,000 after buying an additional 867,502 shares during the period. Janus Henderson Group PLC boosted its position in shares of PTC Therapeutics by 24.4% during the fourth quarter. Janus Henderson Group PLC now owns 2,325,915 shares of the biopharmaceutical company’s stock worth $105,015,000 after buying an additional 455,698 shares during the period. Finally, Pictet Asset Management Holding SA boosted its position in shares of PTC Therapeutics by 107.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 736,388 shares of the biopharmaceutical company’s stock worth $33,241,000 after buying an additional 381,319 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.