PTC Therapeutics (NASDAQ:PTCT) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of PTC Therapeutics (NASDAQ:PTCT) from an equal weight rating to an overweight rating in a research note published on Friday, MarketBeat reports. They currently have $67.00 price target on the biopharmaceutical company’s stock, up from their prior price target of $45.00.

A number of other analysts also recently issued reports on the stock. UBS Group boosted their price objective on shares of PTC Therapeutics from $47.00 to $71.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. JPMorgan Chase & Co. boosted their price objective on shares of PTC Therapeutics from $51.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. StockNews.com raised shares of PTC Therapeutics from a “hold” rating to a “buy” rating in a report on Wednesday, December 4th. The Goldman Sachs Group boosted their price objective on shares of PTC Therapeutics from $32.00 to $42.00 and gave the company a “sell” rating in a report on Wednesday, December 4th. Finally, Wells Fargo & Company boosted their price objective on shares of PTC Therapeutics from $56.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Three analysts have rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $54.08.

PTC Therapeutics Stock Down 2.1 %

Shares of PTCT stock opened at $46.37 on Friday. The company has a 50-day simple moving average of $42.72 and a 200 day simple moving average of $37.18. PTC Therapeutics has a 52 week low of $23.58 and a 52 week high of $54.16.

Insider Buying and Selling

In other PTC Therapeutics news, insider Neil Gregory Almstead sold 69,550 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $52.06, for a total value of $3,620,773.00. Following the completion of the transaction, the insider now owns 86,202 shares of the company’s stock, valued at $4,487,676.12. The trade was a 44.65 % decrease in their position. 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 on Monday, December 2nd. The shares were sold at an average price of $52.26, for a total transaction of $4,473,456.00. Following the completion of the sale, the vice president now directly owns 92,389 shares of the company’s stock, valued at $4,828,249.14. This trade represents a 48.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 196,950 shares of company stock valued at $10,251,735. Company insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On PTC Therapeutics

A number of institutional investors have recently made changes to their positions in the business. KBC Group NV boosted its position in PTC Therapeutics by 29.2% during the 3rd quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock valued at $83,000 after buying an additional 504 shares during the period. CWM LLC boosted its position in PTC Therapeutics by 354.7% during the 3rd quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company’s stock valued at $100,000 after buying an additional 2,096 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in PTC Therapeutics by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 492 shares during the period. Quest Partners LLC purchased a new stake in PTC Therapeutics during the 2nd quarter valued at $128,000. Finally, Quarry LP raised its holdings in PTC Therapeutics by 100.0% in the 2nd quarter. Quarry LP now owns 5,000 shares of the biopharmaceutical company’s stock worth $153,000 after purchasing an additional 2,500 shares in the last quarter.

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.