PTC Therapeutics, Inc. (NASDAQ:PTCT) Receives $33.53 Average Target Price from Analysts

PTC Therapeutics, Inc. (NASDAQ:PTCTGet Free Report) has received an average recommendation of “Reduce” from the thirteen research firms that are presently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $33.53.

Several equities analysts have commented on PTCT shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price objective on shares of PTC Therapeutics in a research report on Friday, March 1st. Jefferies Financial Group raised their target price on shares of PTC Therapeutics from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Wells Fargo & Company assumed coverage on shares of PTC Therapeutics in a report on Friday, December 8th. They issued an “overweight” rating and a $37.00 target price for the company. Royal Bank of Canada raised their price target on shares of PTC Therapeutics from $22.00 to $28.00 and gave the stock a “sector perform” rating in a research note on Friday, March 1st. Finally, Morgan Stanley downgraded shares of PTC Therapeutics from an “equal weight” rating to an “underweight” rating and set a $28.00 price target on the stock. in a research note on Tuesday, December 19th.

Check Out Our Latest Stock Analysis on PTC Therapeutics

Insider Buying and Selling at PTC Therapeutics

In related news, CEO Matthew B. Klein sold 10,107 shares of the stock in a transaction on Friday, January 5th. The stock was sold at an average price of $27.15, for a total transaction of $274,405.05. Following the completion of the sale, the chief executive officer now directly owns 168,155 shares of the company’s stock, valued at $4,565,408.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Matthew B. Klein sold 10,107 shares of the stock in a transaction on Friday, January 5th. The stock was sold at an average price of $27.15, for a total transaction of $274,405.05. Following the completion of the sale, the chief executive officer now directly owns 168,155 shares of the company’s stock, valued at $4,565,408.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Allan Steven Jacobson sold 10,000 shares of the stock in a transaction 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 directly owns 12,348 shares of the company’s stock, valued at $338,088.24. The disclosure for this sale can be found here. Insiders have sold 29,788 shares of company stock worth $821,819 over the last three months. Insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On PTC Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Hexagon Capital Partners LLC increased 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 buying an additional 557 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of PTC Therapeutics by 99.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,941 shares of the biopharmaceutical company’s stock valued at $43,000 after buying an additional 969 shares in the last quarter. KBC Group NV purchased a new position in shares of PTC Therapeutics in the fourth quarter valued at $43,000. Nisa Investment Advisors LLC increased its position in shares of PTC Therapeutics by 317.0% in the third quarter. Nisa Investment Advisors LLC now owns 2,656 shares of the biopharmaceutical company’s stock valued at $60,000 after buying an additional 2,019 shares in the last quarter. Finally, Lazard Asset Management LLC increased its position in shares of PTC Therapeutics by 115.1% in the fourth quarter. Lazard Asset Management LLC now owns 2,478 shares of the biopharmaceutical company’s stock valued at $94,000 after buying an additional 1,326 shares in the last quarter.

PTC Therapeutics Stock Performance

Shares of NASDAQ:PTCT opened at $29.09 on Friday. The firm has a fifty day moving average price of $27.95 and a 200 day moving average price of $25.42. PTC Therapeutics has a fifty-two week low of $17.53 and a fifty-two week high of $59.84. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of -3.48 and a beta of 0.67.

PTC Therapeutics (NASDAQ:PTCTGet Free Report) last issued its earnings results on Thursday, February 29th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.53). The company had revenue of $307.06 million for the quarter, compared to analysts’ expectations of $315.90 million. As a group, research analysts predict that PTC Therapeutics will post -5.95 earnings per share for the current year.

About PTC Therapeutics

(Get Free Report

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.

See Also

Analyst Recommendations for PTC Therapeutics (NASDAQ:PTCT)

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