PTC Therapeutics, Inc. (NASDAQ:PTCT) Receives $63.54 Consensus Target Price from Analysts

PTC Therapeutics, Inc. (NASDAQ:PTCTGet Free Report) has been given an average rating of “Moderate Buy” by the fifteen ratings firms that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $64.00.

Several equities research analysts have recently commented on PTCT shares. Royal Bank of Canada boosted their target price on shares of PTC Therapeutics from $60.00 to $63.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. The Goldman Sachs Group increased their price objective on PTC Therapeutics from $32.00 to $42.00 and gave the stock a “sell” rating in a research note on Wednesday, December 4th. Bank of America raised PTC Therapeutics from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $41.00 to $55.00 in a research report on Tuesday, March 11th. Barclays increased their price target on PTC Therapeutics from $45.00 to $56.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 3rd. Finally, UBS Group lifted their price objective on shares of PTC Therapeutics from $47.00 to $71.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd.

Check Out Our Latest Stock Report on PTC Therapeutics

Insider Buying and Selling

In other PTC Therapeutics news, VP Mark Elliott Boulding sold 15,521 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $53.30, for a total transaction of $827,269.30. Following the completion of the transaction, the vice president now directly owns 103,901 shares of the company’s stock, valued at approximately $5,537,923.30. This represents a 13.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Allan Steven Jacobson sold 1,230 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $51.52, for a total value of $63,369.60. Following the completion of the sale, the director now owns 19,118 shares in the company, valued at approximately $984,959.36. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,391 shares of company stock worth $1,902,927. Insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On PTC Therapeutics

Several institutional investors have recently added to or reduced their stakes in PTCT. Vontobel Holding Ltd. bought a new stake in shares of PTC Therapeutics in the fourth quarter valued at approximately $521,000. Charles Schwab Investment Management Inc. raised its holdings in PTC Therapeutics by 7.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 706,730 shares of the biopharmaceutical company’s stock valued at $26,220,000 after acquiring an additional 47,902 shares during the period. Two Sigma Advisers LP lifted its position in shares of PTC Therapeutics by 10.3% during the third quarter. Two Sigma Advisers LP now owns 429,842 shares of the biopharmaceutical company’s stock worth $15,947,000 after acquiring an additional 40,300 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of PTC Therapeutics in the third quarter worth $698,000. Finally, Quest Partners LLC grew its position in shares of PTC Therapeutics by 433.9% in the third quarter. Quest Partners LLC now owns 22,359 shares of the biopharmaceutical company’s stock valued at $830,000 after purchasing an additional 18,171 shares in the last quarter.

PTC Therapeutics Trading Up 3.3 %

Shares of PTCT stock opened at $54.50 on Friday. The firm has a fifty day simple moving average of $48.60 and a two-hundred day simple moving average of $43.63. PTC Therapeutics has a 12 month low of $24.00 and a 12 month high of $55.65. The firm has a market capitalization of $4.30 billion, a PE ratio of -9.18 and a beta of 0.66.

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.

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Analyst Recommendations for PTC Therapeutics (NASDAQ:PTCT)

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