Analysts Set PTC Therapeutics, Inc. (NASDAQ:PTCT) Target Price at $55.00

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) have received a consensus recommendation of “Hold” from the fifteen analysts that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $55.00.

Several analysts have weighed in on PTCT shares. Morgan Stanley raised shares of PTC Therapeutics from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $45.00 to $67.00 in a research note on Friday, December 13th. Citigroup raised their price objective on shares of PTC Therapeutics from $26.00 to $32.00 and gave the stock a “sell” rating in a report on Wednesday, December 4th. StockNews.com lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th. UBS Group raised their target price on shares of PTC Therapeutics from $47.00 to $71.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Finally, Cantor Fitzgerald decreased their price objective on shares of PTC Therapeutics from $80.00 to $76.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th.

PTC Therapeutics Trading Up 0.6 %

Shares of PTC Therapeutics stock opened at $46.45 on Thursday. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of -7.82 and a beta of 0.62. PTC Therapeutics has a 1-year low of $23.58 and a 1-year high of $54.16. The firm’s 50-day moving average price is $45.49 and its two-hundred day moving average price is $39.33.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($1.39) earnings per share for the quarter, topping the consensus estimate of ($1.54) by $0.15. The firm had revenue of $196.79 million for the quarter, compared to the consensus estimate of $173.51 million. During the same period in the prior year, the company posted ($1.76) earnings per share. As a group, equities research analysts predict that PTC Therapeutics will post -4.66 EPS for the current year.

Insider Transactions at PTC Therapeutics

In other news, CAO Christine Marie Utter sold 17,800 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $51.77, for a total value of $921,506.00. Following the transaction, the chief accounting officer now owns 52,428 shares in the company, valued at approximately $2,714,197.56. This trade represents a 25.35 % 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 hyperlink. Also, insider Neil Gregory Almstead sold 69,550 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $52.06, for a total transaction of $3,620,773.00. Following the completion of the transaction, the insider now owns 86,202 shares in the company, valued at $4,487,676.12. This represents a 44.65 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 211,737 shares of company stock valued at $10,920,687. 5.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. R Squared Ltd bought a new stake in PTC Therapeutics in the fourth quarter valued at $79,000. KBC Group NV boosted its holdings in PTC Therapeutics by 29.2% in the third quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock valued at $83,000 after acquiring an additional 504 shares in the last quarter. CWM LLC boosted its holdings in PTC Therapeutics by 354.7% in the third quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company’s stock valued at $100,000 after acquiring an additional 2,096 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in PTC Therapeutics by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock valued at $104,000 after acquiring an additional 492 shares in the last quarter. Finally, Quarry LP boosted its holdings in 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 acquiring an additional 2,500 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.