PTC Therapeutics (NASDAQ:PTCT) Given New $46.00 Price Target at Jefferies Financial Group

PTC Therapeutics (NASDAQ:PTCTFree Report) had its target price upped by Jefferies Financial Group from $35.00 to $46.00 in a report released on Monday morning, Benzinga reports. Jefferies Financial Group currently has a buy rating on the biopharmaceutical company’s stock.

Other analysts have also recently issued research reports about the company. TD Cowen cut their target price on PTC Therapeutics from $32.00 to $30.00 and set a market perform rating for the company in a research report on Friday, March 1st. Morgan Stanley upgraded shares of PTC Therapeutics from an underweight rating to an equal weight rating and lifted their price objective for the company from $28.00 to $30.00 in a research report on Monday, April 29th. Cantor Fitzgerald restated an overweight rating and set a $45.00 target price on shares of PTC Therapeutics in a research report on Friday, April 12th. Royal Bank of Canada lifted their price target on shares of PTC Therapeutics from $22.00 to $28.00 and gave the company a sector perform rating in a report on Friday, March 1st. Finally, Raymond James raised shares of PTC Therapeutics from an underperform rating to a market perform rating in a report on Monday. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, PTC Therapeutics presently has an average rating of Hold and an average target price of $34.40.

View Our Latest Stock Report on PTCT

PTC Therapeutics Trading Up 21.2 %

PTC Therapeutics stock opened at $40.12 on Monday. PTC Therapeutics has a 12-month low of $17.53 and a 12-month high of $59.84. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of -5.22 and a beta of 0.63. The firm has a 50 day moving average of $29.49 and a 200 day moving average of $27.20.

PTC Therapeutics (NASDAQ:PTCTGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.21) by $0.01. The firm had revenue of $210.12 million during the quarter, compared to analysts’ expectations of $160.27 million. On average, analysts predict that PTC Therapeutics will post -5.36 EPS for the current year.

Insider Transactions at PTC Therapeutics

In related news, CEO Matthew B. Klein sold 3,361 shares of the firm’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 completion of the sale, the chief executive officer now directly owns 225,807 shares in the company, valued at $5,620,336.23. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In the last 90 days, insiders sold 4,849 shares of company stock worth $124,107. 5.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Jacobs Levy Equity Management Inc. lifted its stake in shares of PTC Therapeutics by 21.3% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,605,841 shares of the biopharmaceutical company’s stock worth $46,714,000 after acquiring an additional 282,422 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of PTC Therapeutics by 40.5% during the first quarter. Janus Henderson Group PLC now owns 3,669,816 shares of the biopharmaceutical company’s stock worth $106,744,000 after purchasing an additional 1,057,223 shares during the last quarter. Lazard Asset Management LLC boosted its stake in shares of PTC Therapeutics by 268.9% during the first quarter. Lazard Asset Management LLC now owns 6,504 shares of the biopharmaceutical company’s stock valued at $188,000 after purchasing an additional 4,741 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of PTC Therapeutics in the first quarter worth about $3,302,000. Finally, Seven Eight Capital LP increased its stake in PTC Therapeutics by 148.3% in the 1st quarter. Seven Eight Capital LP now owns 58,692 shares of the biopharmaceutical company’s stock worth $1,707,000 after buying an additional 35,055 shares during the period.

About PTC Therapeutics

(Get Free Report)

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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Analyst Recommendations for PTC Therapeutics (NASDAQ:PTCT)

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