Cantor Fitzgerald Cuts PTC Therapeutics (NASDAQ:PTCT) Price Target to $112.00

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) had its price target cut by Cantor Fitzgerald from $113.00 to $112.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the biopharmaceutical company's stock. Cantor Fitzgerald's price target indicates a potential upside of 181.46% from the stock's previous close.

Several other equities analysts have also weighed in on PTCT. Citigroup upgraded shares of PTC Therapeutics from a "sell" rating to a "neutral" rating and reduced their price target for the company from $50.00 to $40.00 in a research report on Wednesday. Bank of America raised shares of PTC Therapeutics from an "underperform" rating to a "neutral" rating and increased their target price for the company from $41.00 to $55.00 in a research report on Tuesday, March 11th. JPMorgan Chase & Co. lowered their price target on shares of PTC Therapeutics from $75.00 to $67.00 and set an "overweight" rating on the stock in a report on Wednesday. StockNews.com lowered PTC Therapeutics from a "buy" rating to a "hold" rating in a report on Monday, February 17th. Finally, Scotiabank assumed coverage on PTC Therapeutics in a research note on Friday, March 7th. They issued a "sector perform" rating and a $55.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $62.85.

PTC Therapeutics Stock Performance

Shares of PTC Therapeutics stock traded up $3.60 during mid-day trading on Wednesday, hitting $39.79. 406,690 shares of the stock were exchanged, compared to its average volume of 830,423. The company has a market capitalization of $3.14 billion, a P/E ratio of -6.55 and a beta of 0.52. The company has a 50-day simple moving average of $49.51 and a 200 day simple moving average of $46.97. PTC Therapeutics has a 12 month low of $28.72 and a 12 month high of $58.38.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported $10.04 EPS for the quarter, topping analysts' consensus estimates of $0.85 by $9.19. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $437.16 million. The business's revenue was down 9.6% compared to the same quarter last year. During the same quarter last year, the business posted ($1.20) earnings per share. Analysts predict that PTC Therapeutics will post -4.52 EPS for the current year.

Insider Buying and Selling

In other news, CEO Matthew B. Klein sold 2,804 shares of the business's stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $48.74, for a total transaction of $136,666.96. Following the completion of the transaction, the chief executive officer now directly owns 273,234 shares in the company, valued at $13,317,425.16. The trade was a 1.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Mark Elliott Boulding sold 1,333 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $50.10, for a total transaction of $66,783.30. Following the completion of the transaction, the vice president now directly owns 105,515 shares in the company, valued at approximately $5,286,301.50. The trade was a 1.25 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,305 shares of company stock valued at $1,682,755. Company insiders own 5.50% of the company's stock.

Institutional Trading of PTC Therapeutics

Large investors have recently modified their holdings of the business. Smartleaf Asset Management LLC raised its stake in PTC Therapeutics by 78.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company's stock valued at $28,000 after purchasing an additional 270 shares in the last quarter. Sterling Capital Management LLC increased its holdings in shares of PTC Therapeutics by 424.4% in the 4th quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company's stock worth $29,000 after buying an additional 522 shares during the last quarter. GAMMA Investing LLC raised its position in shares of PTC Therapeutics by 86.3% during the 1st quarter. GAMMA Investing LLC now owns 952 shares of the biopharmaceutical company's stock valued at $49,000 after buying an additional 441 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in shares of PTC Therapeutics during the 4th quarter worth $68,000. Finally, GF Fund Management CO. LTD. bought a new stake in shares of PTC Therapeutics during the 4th quarter worth $73,000.

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.

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