PTC Therapeutics’ (PTCT) Market Perform Rating Reaffirmed at SVB Leerink

PTC Therapeutics (NASDAQ:PTCT – Get Rating)‘s stock had its “market perform” rating restated by equities researchers at SVB Leerink in a research note issued on Friday, MarketBeat.com reports. They presently have a $48.00 target price on the biopharmaceutical company’s stock. SVB Leerink’s price target would indicate a potential upside of 0.99% from the stock’s current price.

A number of other analysts have also issued reports on the company. SVB Securities began coverage on PTC Therapeutics in a research note on Friday, March 17th. They set a “market perform” rating and a $48.00 price objective on the stock. Raymond James decreased their price objective on PTC Therapeutics from $60.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, February 23rd. Credit Suisse Group restated a “neutral” rating and issued a $48.00 target price on shares of PTC Therapeutics in a research note on Wednesday, February 22nd. Royal Bank of Canada lifted their price target on PTC Therapeutics from $44.00 to $51.00 in a research report on Wednesday, February 22nd. Finally, The Goldman Sachs Group assumed coverage on shares of PTC Therapeutics in a research report on Wednesday, December 14th. They issued a “sell” rating and a $35.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $52.00.

PTC Therapeutics Stock Performance

Shares of PTCT traded down $0.93 during mid-day trading on Friday, hitting $47.53. The stock had a trading volume of 31,003 shares, compared to its average volume of 736,413. The business has a fifty day moving average price of $46.25 and a 200-day moving average price of $44.52. PTC Therapeutics has a 52 week low of $25.01 and a 52 week high of $55.58.

PTC Therapeutics (NASDAQ:PTCT – Get Rating) last released its quarterly earnings data on Tuesday, February 21st. The biopharmaceutical company reported ($2.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.96) by ($0.39). The company had revenue of $167.41 million during the quarter, compared to the consensus estimate of $183.07 million. During the same quarter last year, the firm posted ($2.03) EPS. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, equities research analysts forecast that PTC Therapeutics will post -4.66 EPS for the current year.

Insider Activity at PTC Therapeutics

In other PTC Therapeutics news, insider Neil Gregory Almstead sold 716 shares of PTC Therapeutics stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $41.66, for a total transaction of $29,828.56. Following the transaction, the insider now directly owns 65,435 shares of the company’s stock, valued at $2,726,022.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other PTC Therapeutics news, VP Mark Elliott Boulding sold 835 shares of PTC Therapeutics stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $41.66, for a total transaction of $34,786.10. Following the transaction, the vice president now directly owns 77,275 shares of the company’s stock, valued at $3,219,276.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Neil Gregory Almstead sold 716 shares of PTC Therapeutics stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $41.66, for a total transaction of $29,828.56. Following the transaction, the insider now directly owns 65,435 shares in the company, valued at $2,726,022.10. The disclosure for this sale can be found here. Insiders have sold 15,951 shares of company stock valued at $700,923 over the last three months. 6.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in PTCT. MetLife Investment Management LLC increased its stake in shares of PTC Therapeutics by 0.7% in the third quarter. MetLife Investment Management LLC now owns 37,180 shares of the biopharmaceutical company’s stock worth $1,866,000 after buying an additional 276 shares during the period. ProShare Advisors LLC increased its stake in shares of PTC Therapeutics by 2.3% in the third quarter. ProShare Advisors LLC now owns 13,763 shares of the biopharmaceutical company’s stock worth $691,000 after buying an additional 314 shares during the period. Principal Financial Group Inc. increased its stake in shares of PTC Therapeutics by 2.2% in the fourth quarter. Principal Financial Group Inc. now owns 18,069 shares of the biopharmaceutical company’s stock worth $690,000 after buying an additional 397 shares during the period. Diversified Trust Co increased its stake in shares of PTC Therapeutics by 5.2% in the third quarter. Diversified Trust Co now owns 8,498 shares of the biopharmaceutical company’s stock worth $427,000 after buying an additional 422 shares during the period. Finally, Engineers Gate Manager LP increased its stake in shares of PTC Therapeutics by 4.9% in the fourth quarter. Engineers Gate Manager LP now owns 9,864 shares of the biopharmaceutical company’s stock worth $377,000 after buying an additional 458 shares during the period.

About PTC Therapeutics

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PTC Therapeutics, Inc is a biopharmaceutical company. It engages in discovery, development, and commercialization of clinically differentiated medicines that provide benefits to patients with rare disorders. The company was founded by Allan Steven Jacobson and Stuart Walter Peltz on March 31, 1998 and is headquartered in South Plainfield, NJ.