PTC Therapeutics (NASDAQ:PTCT) Upgraded to “Buy” at StockNews.com

PTC Therapeutics (NASDAQ:PTCTGet Rating) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

Several other research analysts have also recently weighed in on the company. Royal Bank of Canada decreased their target price on PTC Therapeutics from $60.00 to $46.00 and set a “sector perform” rating for the company in a research note on Friday, October 28th. Barclays reduced their target price on PTC Therapeutics to $47.00 in a report on Tuesday, November 1st. Credit Suisse Group upped their target price on PTC Therapeutics from $47.00 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, January 10th. Morgan Stanley reduced their target price on PTC Therapeutics from $54.00 to $40.00 and set an “equal weight” rating for the company in a report on Friday, October 28th. Finally, The Goldman Sachs Group assumed coverage on PTC Therapeutics in a report on Wednesday, December 14th. They set a “sell” rating and a $35.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $53.73.

PTC Therapeutics Trading Up 2.7 %

PTCT stock opened at $47.74 on Thursday. The firm has a market cap of $3.48 billion, a P/E ratio of -6.39 and a beta of 0.50. PTC Therapeutics has a 12-month low of $25.01 and a 12-month high of $55.58. The stock’s 50 day simple moving average is $40.43 and its 200 day simple moving average is $45.14.

PTC Therapeutics (NASDAQ:PTCTGet Rating) last issued its earnings results on Thursday, October 27th. The biopharmaceutical company reported ($1.53) earnings per share for the quarter, missing the consensus estimate of ($1.37) by ($0.16). The business had revenue of $217.13 million during the quarter, compared to analysts’ expectations of $194.18 million. On average, research analysts forecast that PTC Therapeutics will post -6.89 EPS for the current fiscal year.

Insider Activity

In other news, CAO Christine Marie Utter sold 706 shares of the stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $41.66, for a total transaction of $29,411.96. Following the transaction, the chief accounting officer now owns 39,290 shares of the company’s stock, valued at approximately $1,636,821.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CAO Christine Marie Utter sold 706 shares of the stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $41.66, for a total transaction of $29,411.96. Following the transaction, the chief accounting officer now owns 39,290 shares of the company’s stock, valued at approximately $1,636,821.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Stuart Walter Peltz sold 1,189 shares of the stock in a transaction dated Wednesday, January 11th. The shares were sold at an average price of $44.36, for a total value of $52,744.04. Following the transaction, the chief executive officer now directly owns 169,282 shares in the company, valued at approximately $7,509,349.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,678 shares of company stock valued at $458,740. Insiders own 6.00% of the company’s stock.

Institutional Trading of PTC Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PTCT. RTW Investments LP grew its holdings in PTC Therapeutics by 11.4% in the 3rd quarter. RTW Investments LP now owns 5,620,580 shares of the biopharmaceutical company’s stock valued at $282,153,000 after buying an additional 575,273 shares during the last quarter. State Street Corp grew its holdings in shares of PTC Therapeutics by 13.8% during the 2nd quarter. State Street Corp now owns 3,624,877 shares of the biopharmaceutical company’s stock worth $145,213,000 after purchasing an additional 440,850 shares in the last quarter. Two Sigma Investments LP acquired a new stake in shares of PTC Therapeutics during the 3rd quarter worth approximately $15,419,000. Two Sigma Advisers LP acquired a new stake in shares of PTC Therapeutics during the 3rd quarter worth approximately $13,707,000. Finally, Handelsbanken Fonder AB grew its holdings in shares of PTC Therapeutics by 37.3% during the 2nd quarter. Handelsbanken Fonder AB now owns 520,400 shares of the biopharmaceutical company’s stock worth $20,847,000 after purchasing an additional 141,400 shares in the last quarter.

PTC Therapeutics Company Profile

(Get Rating)

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders. Its portfolio pipeline includes commercial products and product candidates in various stages of development, including clinical, pre-clinical and research and discovery stages, focuses on the development of treatments for multiple therapeutic areas, such as rare diseases.

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Analyst Recommendations for PTC Therapeutics (NASDAQ:PTCT)

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