PTC Therapeutics, Inc. (NASDAQ:PTCT) Receives $33.53 Consensus PT from Brokerages

PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) has been assigned a consensus recommendation of "Reduce" from the thirteen brokerages that are covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $33.53.

Several research firms recently commented on PTCT. Morgan Stanley downgraded PTC Therapeutics from an "equal weight" rating to an "underweight" rating and set a $28.00 price objective for the company. in a research note on Tuesday, December 19th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $45.00 target price on shares of PTC Therapeutics in a research note on Friday, March 1st. Wells Fargo & Company began coverage on PTC Therapeutics in a research note on Friday, December 8th. They issued an "overweight" rating and a $37.00 target price for 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 note on Friday, March 1st. Finally, Jefferies Financial Group raised their target price on PTC Therapeutics from $33.00 to $35.00 and gave the stock a "buy" rating in a research note on Wednesday, March 20th.

Insider Activity at PTC Therapeutics

In related news, CEO Matthew B. Klein sold 10,107 shares of the firm's stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $27.15, for a total transaction of $274,405.05. Following the completion of the transaction, the chief executive officer now directly owns 168,155 shares in the company, valued at approximately $4,565,408.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other PTC Therapeutics news, CAO Christine Marie Utter sold 1,188 shares of the stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $28.64, for a total value of $34,024.32. Following the sale, the chief accounting officer now owns 37,499 shares of the company's stock, valued at approximately $1,073,971.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew B. Klein sold 10,107 shares of the stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $27.15, for a total value of $274,405.05. Following the completion of the sale, the chief executive officer now directly owns 168,155 shares in the company, valued at approximately $4,565,408.25. The disclosure for this sale can be found here. Insiders sold 29,788 shares of company stock worth $821,819 in the last three months. 5.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On PTC Therapeutics

Hedge funds have recently bought and sold shares of the stock. Hexagon Capital Partners LLC raised 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 acquiring an additional 557 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of PTC Therapeutics by 99.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,941 shares of the biopharmaceutical company's stock worth $43,000 after acquiring an additional 969 shares in the last quarter. KBC Group NV acquired a new stake in shares of PTC Therapeutics during the 4th quarter worth about $43,000. Nisa Investment Advisors LLC raised its position in shares of PTC Therapeutics by 317.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,656 shares of the biopharmaceutical company's stock worth $60,000 after acquiring an additional 2,019 shares in the last quarter. Finally, Lazard Asset Management LLC raised its position in shares of PTC Therapeutics by 115.1% during the 4th quarter. Lazard Asset Management LLC now owns 2,478 shares of the biopharmaceutical company's stock worth $94,000 after acquiring an additional 1,326 shares in the last quarter.

PTC Therapeutics Price Performance

NASDAQ PTCT traded down $0.35 during mid-day trading on Friday, hitting $29.09. The stock had a trading volume of 1,083,977 shares, compared to its average volume of 897,791. The firm's 50 day moving average is $27.95 and its 200 day moving average is $25.62. PTC Therapeutics has a twelve month low of $17.53 and a twelve month high of $59.84. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of -3.48 and a beta of 0.67.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last posted its quarterly earnings data on Thursday, February 29th. The biopharmaceutical company reported ($0.24) EPS for the quarter, missing the consensus estimate of $0.29 by ($0.53). The company had revenue of $307.06 million during the quarter, compared to analysts' expectations of $315.90 million. As a group, equities research analysts expect that PTC Therapeutics will post -5.95 earnings per share for the current year.

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.