PTC Therapeutics, Inc. (NASDAQ:PTCT) Given Average Rating of “Hold” by Analysts

PTC Therapeutics, Inc. (NASDAQ:PTCT) has been assigned an average rating of “Hold” from the fifteen analysts that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $54.08.

PTCT has been the subject of a number of recent research reports. Royal Bank of Canada upgraded shares of PTC Therapeutics from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $39.00 to $63.00 in a research note on Tuesday, December 3rd. StockNews.com downgraded shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Morgan Stanley raised shares of PTC Therapeutics from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $45.00 to $67.00 in a research report on Friday, December 13th. UBS Group boosted their price objective on PTC Therapeutics from $47.00 to $71.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. raised their target price on PTC Therapeutics from $51.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th.

Insider Buying and Selling

In other PTC Therapeutics news, VP Mark Elliott Boulding sold 85,600 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $52.26, for a total transaction of $4,473,456.00. Following the completion of the transaction, the vice president now directly owns 92,389 shares of the company’s stock, valued at approximately $4,828,249.14. This represents a 48.09 % 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 Jerome B. Zeldis sold 24,000 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $51.50, for a total value of $1,236,000.00. Following the completion of the sale, the director now owns 14,500 shares in the company, valued at approximately $746,750. The trade was a 62.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 196,950 shares of company stock worth $10,251,735. Insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On PTC Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PTCT. KBC Group NV lifted its stake in shares of 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 in the last quarter. CWM LLC lifted its position in shares of PTC Therapeutics by 354.7% during the third quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company’s stock worth $100,000 after acquiring an additional 2,096 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of PTC Therapeutics by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock worth $104,000 after acquiring an additional 492 shares in the last quarter. Quest Partners LLC bought a new position in shares of PTC Therapeutics in the second quarter worth $128,000. Finally, Quarry LP grew its position in shares of PTC Therapeutics by 100.0% in the second quarter. Quarry LP now owns 5,000 shares of the biopharmaceutical company’s stock valued at $153,000 after purchasing an additional 2,500 shares in the last quarter.

PTC Therapeutics Stock Performance

Shares of PTC Therapeutics stock opened at $45.23 on Friday. PTC Therapeutics has a 52 week low of $23.58 and a 52 week high of $54.16. The stock has a 50 day moving average price of $44.26 and a two-hundred day moving average price of $37.80. The stock has a market capitalization of $3.49 billion, a PE ratio of -7.61 and a beta of 0.63.

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.