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

PTC Therapeutics, Inc. (NASDAQ:PTCTGet Free Report) has earned a consensus recommendation of “Reduce” from the fourteen analysts that are currently covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $34.29.

A number of equities research analysts recently commented on PTCT shares. Wells Fargo & Company initiated coverage on PTC Therapeutics in a research report on Friday, December 8th. They issued an “overweight” rating and a $37.00 target price on the stock. Royal Bank of Canada cut their target price on PTC Therapeutics from $27.00 to $22.00 and set a “sector perform” rating on the stock in a research note on Friday, January 26th. Cantor Fitzgerald dropped their price objective on PTC Therapeutics from $51.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday, January 26th. Morgan Stanley cut PTC Therapeutics from an “equal weight” rating to an “underweight” rating and set a $28.00 price objective on the stock. in a research note on Tuesday, December 19th. Finally, Citigroup cut PTC Therapeutics from a “neutral” rating to a “sell” rating and dropped their target price for the company from $29.00 to $17.00 in a research report on Friday, October 27th.

Check Out Our Latest Report on PTCT

PTC Therapeutics Stock Down 5.8 %

NASDAQ PTCT opened at $25.24 on Thursday. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of -2.92 and a beta of 0.67. PTC Therapeutics has a twelve month low of $17.53 and a twelve month high of $59.84. The business has a 50-day moving average price of $27.15 and a 200-day moving average price of $28.50.

Insider Activity

In related news, CAO Christine Marie Utter sold 1,188 shares of PTC Therapeutics stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $28.64, for a total value of $34,024.32. Following the completion of the transaction, the chief accounting officer now owns 37,499 shares in the company, valued at approximately $1,073,971.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other PTC Therapeutics news, CAO Christine Marie Utter sold 1,188 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $28.64, for a total transaction of $34,024.32. Following the completion of the sale, the chief accounting officer now directly owns 37,499 shares in the company, valued at approximately $1,073,971.36. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Allan Steven Jacobson sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $27.38, for a total value of $273,800.00. Following the sale, the director now owns 12,348 shares of the company’s stock, valued at $338,088.24. The disclosure for this sale can be found here. Insiders sold a total of 29,788 shares of company stock valued at $821,819 in the last quarter. 5.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PTC Therapeutics

Large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in shares of PTC Therapeutics by 1.7% in the first quarter. Dimensional Fund Advisors LP now owns 15,316 shares of the biopharmaceutical company’s stock valued at $742,000 after purchasing an additional 255 shares in the last quarter. Engineers Gate Manager LP grew its position in shares of PTC Therapeutics by 4.9% in the fourth quarter. Engineers Gate Manager LP now owns 9,864 shares of the biopharmaceutical company’s stock valued at $377,000 after purchasing an additional 458 shares in the last quarter. Vise Technologies Inc. grew its position in shares of PTC Therapeutics by 5.6% in the second quarter. Vise Technologies Inc. now owns 8,995 shares of the biopharmaceutical company’s stock valued at $366,000 after purchasing an additional 473 shares in the last quarter. American Century Companies Inc. grew its position in shares of PTC Therapeutics by 6.8% in the first quarter. American Century Companies Inc. now owns 8,582 shares of the biopharmaceutical company’s stock valued at $416,000 after purchasing an additional 545 shares in the last quarter. Finally, Hexagon Capital Partners LLC grew its position in shares of PTC Therapeutics by 132.0% in the fourth quarter. Hexagon Capital Partners LLC now owns 979 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 557 shares in the last quarter.

PTC Therapeutics Company Profile

(Get Free Report

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders. Its portfolio pipeline includes commercial products and product candidates in various stages of development, including clinical, pre-clinical and research and discovery stages, focuses on the development of treatments for multiple therapeutic areas, such as rare diseases.

Featured Articles

Analyst Recommendations for PTC Therapeutics (NASDAQ:PTCT)

Receive News & Ratings for PTC Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PTC Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.