Analysts Set PTC Therapeutics, Inc. (NASDAQ:PTCT) PT at $33.53

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) have received a consensus rating of “Reduce” from the thirteen research firms that are currently covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $33.53.

Several analysts have issued reports on PTCT shares. Royal Bank of Canada upped 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 report on Friday, March 1st. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price target on shares of PTC Therapeutics in a research note on Friday, April 12th. Jefferies Financial Group lifted their price objective on shares of PTC Therapeutics from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Finally, TD Cowen dropped their price objective on shares of PTC Therapeutics from $32.00 to $30.00 and set a “market perform” rating on the stock in a research report on Friday, March 1st.

PTC Therapeutics Stock Up 1.1 %

NASDAQ PTCT opened at $25.49 on Tuesday. The firm’s 50 day moving average is $28.10 and its 200-day moving average is $25.74. The company has a market capitalization of $1.95 billion, a PE ratio of -3.05 and a beta of 0.67. PTC Therapeutics has a 12-month low of $17.53 and a 12-month high of $59.84.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data on Thursday, February 29th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.53). The firm had revenue of $307.06 million during the quarter, compared to the consensus estimate of $315.90 million. As a group, sell-side analysts expect that PTC Therapeutics will post -5.94 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Matthew B. Klein sold 3,361 shares of the business’s stock in a transaction on Friday, April 19th. The stock was sold at an average price of $24.89, for a total transaction of $83,655.29. Following the sale, the chief executive officer now owns 225,807 shares in the company, valued at approximately $5,620,336.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders sold 6,404 shares of company stock valued at $165,506. 5.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PTCT. Rathbones Group PLC acquired a new stake in shares of PTC Therapeutics in the 3rd quarter valued at about $532,000. Charles Schwab Investment Management Inc. raised its holdings in shares of PTC Therapeutics by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 596,763 shares of the biopharmaceutical company’s stock worth $13,373,000 after acquiring an additional 23,288 shares during the last quarter. Walleye Capital LLC lifted its position in PTC Therapeutics by 958.6% in the 3rd quarter. Walleye Capital LLC now owns 72,030 shares of the biopharmaceutical company’s stock valued at $1,614,000 after acquiring an additional 65,226 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in PTC Therapeutics by 10.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,122,698 shares of the biopharmaceutical company’s stock valued at $25,160,000 after purchasing an additional 104,024 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of PTC Therapeutics by 5.2% in the third quarter. Vanguard Group Inc. now owns 7,945,489 shares of the biopharmaceutical company’s stock valued at $178,058,000 after purchasing an additional 393,012 shares in the last quarter.

About PTC Therapeutics

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.