Analysts Set PTC Therapeutics, Inc. (NASDAQ:PTCT) PT at $33.53

PTC Therapeutics, Inc. (NASDAQ:PTCT) has been assigned a consensus recommendation of “Reduce” from the thirteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $33.53.

Several equities analysts have commented on the company. TD Cowen cut their price target on PTC Therapeutics from $32.00 to $30.00 and set a “market perform” rating for the company in a report on Friday, March 1st. Royal Bank of Canada raised their price objective on shares of PTC Therapeutics from $22.00 to $28.00 and gave the stock a “sector perform” rating in a report on Friday, March 1st. Jefferies Financial Group increased their price target on shares of PTC Therapeutics from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price objective on shares of PTC Therapeutics in a report on Friday, April 12th.

Insider Transactions at PTC Therapeutics

In related news, CEO Matthew B. Klein sold 3,361 shares of the business’s stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $24.89, for a total value of $83,655.29. Following the completion of the transaction, the chief executive officer now owns 225,807 shares in the company, valued at approximately $5,620,336.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 6,404 shares of company stock worth $165,506. Corporate insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Hexagon Capital Partners LLC grew its position in shares of PTC Therapeutics by 132.0% during the 4th quarter. Hexagon Capital Partners LLC now owns 979 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 557 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in PTC Therapeutics by 99.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,941 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 969 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in PTC Therapeutics in the first quarter valued at approximately $46,000. Nisa Investment Advisors LLC raised its holdings in PTC Therapeutics by 317.0% in the third quarter. Nisa Investment Advisors LLC now owns 2,656 shares of the biopharmaceutical company’s stock worth $60,000 after purchasing an additional 2,019 shares during the period. Finally, Headlands Technologies LLC boosted its position in shares of PTC Therapeutics by 248.0% during the fourth quarter. Headlands Technologies LLC now owns 4,684 shares of the biopharmaceutical company’s stock worth $129,000 after purchasing an additional 3,338 shares in the last quarter.

PTC Therapeutics Stock Up 1.1 %

Shares of PTCT stock opened at $25.49 on Tuesday. PTC Therapeutics has a 12 month low of $17.53 and a 12 month high of $59.84. The firm has a market cap of $1.95 billion, a PE ratio of -3.05 and a beta of 0.67. The stock has a 50 day moving average of $28.10 and a 200-day moving average of $25.74.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Thursday, February 29th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.53). The business had revenue of $307.06 million for the quarter, compared to analysts’ expectations of $315.90 million. As a group, equities analysts predict that PTC Therapeutics will post -5.94 EPS for the current fiscal year.

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.