Morgan Stanley upgraded shares of PTC Therapeutics (NASDAQ:PTCT – Free Report) from an underweight rating to an equal weight rating in a report released on Monday, Benzinga reports. Morgan Stanley currently has $30.00 price objective on the biopharmaceutical company’s stock, up from their prior price objective of $28.00.
Several other research analysts also recently commented on PTCT. TD Cowen dropped their price target on PTC Therapeutics from $32.00 to $30.00 and set a market perform rating on the stock in a research report on Friday, March 1st. Cantor Fitzgerald reaffirmed an overweight rating and issued a $45.00 price target on shares of PTC Therapeutics in a research report on Friday, April 12th. Royal Bank of Canada lifted their price target on PTC Therapeutics from $22.00 to $28.00 and gave the stock a sector perform rating in a research report on Friday, March 1st. Finally, Jefferies Financial Group lifted their price target on PTC Therapeutics from $33.00 to $35.00 and gave the stock a buy rating in a research report on Wednesday, March 20th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $33.67.
Read Our Latest Stock Report on PTC Therapeutics
PTC Therapeutics Stock Performance
PTC Therapeutics (NASDAQ:PTCT – Get Free Report) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.20) EPS for the quarter, topping the consensus estimate of ($1.21) by $0.01. The business had revenue of $210.12 million during the quarter, compared to the consensus estimate of $160.27 million. On average, analysts forecast that PTC Therapeutics will post -5.03 EPS for the current fiscal year.
Insider Activity at PTC Therapeutics
In related news, CEO Matthew B. Klein sold 3,361 shares of the business’s stock in a transaction on Friday, April 19th. The stock was sold at an average price of $24.89, for a total value of $83,655.29. Following the sale, the chief executive officer now owns 225,807 shares of the company’s stock, valued at approximately $5,620,336.23. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 4,674 shares of company stock valued at $118,363 in the last 90 days. 5.30% of the stock is owned by corporate insiders.
Institutional Trading of PTC Therapeutics
Several institutional investors have recently bought and sold shares of PTCT. Hexagon Capital Partners LLC boosted its stake in PTC Therapeutics by 132.0% in the 4th quarter. Hexagon Capital Partners LLC now owns 979 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 557 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted 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 worth $43,000 after purchasing an additional 969 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in PTC Therapeutics in the first quarter worth $46,000. Nisa Investment Advisors LLC boosted its stake 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 in the last quarter. Finally, Headlands Technologies LLC boosted its stake in PTC Therapeutics by 248.0% in 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 Company Profile
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.
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