PTC Therapeutics, Inc. (NASDAQ:PTCT) Receives $63.77 Consensus Target Price from Analysts

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) have been assigned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $63.77.

PTCT has been the topic of several analyst reports. Scotiabank began coverage on shares of PTC Therapeutics in a research note on Friday, March 7th. They issued a “sector perform” rating and a $55.00 target price on the stock. StockNews.com downgraded shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Cantor Fitzgerald increased their target price on shares of PTC Therapeutics from $76.00 to $113.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Morgan Stanley restated an “overweight” rating and set a $70.00 price target (up previously from $67.00) on shares of PTC Therapeutics in a report on Friday, March 7th. Finally, Citigroup increased their price objective on PTC Therapeutics from $32.00 to $45.00 and gave the stock a “sell” rating in a report on Wednesday, February 12th.

PTC Therapeutics Trading Down 5.8 %

NASDAQ PTCT opened at $40.29 on Tuesday. The firm has a market cap of $3.18 billion, a PE ratio of -6.78 and a beta of 0.58. PTC Therapeutics has a 1-year low of $24.00 and a 1-year high of $58.38. The stock has a 50-day moving average of $50.61 and a 200-day moving average of $45.77.

Insiders Place Their Bets

In other news, EVP Lee Scott Golden sold 897 shares of PTC Therapeutics stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $46.95, for a total value of $42,114.15. Following the completion of the transaction, the executive vice president now owns 75,997 shares of the company’s stock, valued at $3,568,059.15. The trade was a 1.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Mark Elliott Boulding sold 1,333 shares of PTC Therapeutics stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $50.10, for a total transaction of $66,783.30. Following the completion of the transaction, the vice president now directly owns 105,515 shares of the company’s stock, valued at $5,286,301.50. This trade represents a 1.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,501 shares of company stock worth $1,546,088. 5.50% of the stock is owned by corporate insiders.

Institutional Trading of PTC Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. Toronto Dominion Bank purchased a new stake in shares of PTC Therapeutics during the 4th quarter valued at about $148,363,000. Driehaus Capital Management LLC bought a new position in PTC Therapeutics during the fourth quarter valued at approximately $46,993,000. Point72 Asset Management L.P. boosted its holdings in PTC Therapeutics by 150.6% in the fourth quarter. Point72 Asset Management L.P. now owns 1,443,362 shares of the biopharmaceutical company’s stock worth $65,153,000 after purchasing an additional 867,502 shares during the last quarter. Janus Henderson Group PLC grew its position in PTC Therapeutics by 24.4% in the 4th quarter. Janus Henderson Group PLC now owns 2,325,915 shares of the biopharmaceutical company’s stock worth $105,015,000 after purchasing an additional 455,698 shares during the period. Finally, Pictet Asset Management Holding SA grew its position in PTC Therapeutics by 107.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 736,388 shares of the biopharmaceutical company’s stock worth $33,241,000 after purchasing an additional 381,319 shares during the period.

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.