PTC Therapeutics, Inc. (NASDAQ:PTCT) Receives $51.15 Consensus Target Price from Analysts

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) have been given an average recommendation of “Hold” by the fifteen ratings firms that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $52.38.

Several brokerages have recently issued reports on PTCT. Raymond James started coverage on shares of PTC Therapeutics in a research note on Thursday, October 10th. They set a “market perform” rating for the company. Robert W. Baird boosted their target price on PTC Therapeutics from $52.00 to $70.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Barclays increased their price target on PTC Therapeutics from $45.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 3rd. Citigroup boosted their price objective on PTC Therapeutics from $26.00 to $32.00 and gave the company a “sell” rating in a research note on Wednesday, December 4th. Finally, Baird R W upgraded shares of PTC Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 4th.

Insider Activity at PTC Therapeutics

In other news, VP Mark Elliott Boulding sold 85,600 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $52.26, for a total value of $4,473,456.00. Following the completion of the transaction, the vice president now directly owns 92,389 shares in the company, valued at approximately $4,828,249.14. This represents a 48.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Neil Gregory Almstead sold 69,550 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $52.06, for a total value of $3,620,773.00. Following the transaction, the insider now directly owns 86,202 shares in the company, valued at approximately $4,487,676.12. This represents a 44.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 196,950 shares of company stock valued at $10,251,735 over the last three months. 5.50% of the stock is owned by corporate insiders.

Institutional Trading of PTC Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. KBC Group NV boosted its position in PTC Therapeutics by 29.2% during the third quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock valued at $83,000 after buying an additional 504 shares during the period. CWM LLC lifted its stake in shares of PTC Therapeutics by 354.7% in the 3rd quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company’s stock valued at $100,000 after acquiring an additional 2,096 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in PTC Therapeutics by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock valued at $104,000 after acquiring an additional 492 shares during the period. Quest Partners LLC bought a new position in PTC Therapeutics during the 2nd quarter worth approximately $128,000. Finally, Quarry LP increased its stake in PTC Therapeutics by 100.0% in the 2nd quarter. Quarry LP now owns 5,000 shares of the biopharmaceutical company’s stock worth $153,000 after purchasing an additional 2,500 shares during the period.

PTC Therapeutics Trading Down 0.7 %

Shares of PTC Therapeutics stock opened at $48.04 on Wednesday. The firm has a market capitalization of $3.71 billion, a P/E ratio of -8.09 and a beta of 0.63. The business’s fifty day simple moving average is $41.49 and its 200 day simple moving average is $36.77. PTC Therapeutics has a 12 month low of $23.58 and a 12 month high of $54.16.

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.