PTC Therapeutics (NASDAQ:PTCT) Shares Up 6.1%

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) were up 6.1% on Monday . The company traded as high as $30.49 and last traded at $30.30. Approximately 137,088 shares traded hands during trading, a decline of 86% from the average daily volume of 960,482 shares. The stock had previously closed at $28.57.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PTCT shares. Royal Bank of Canada raised their price objective on PTC Therapeutics from $22.00 to $28.00 and gave the company a "sector perform" rating in a research report on Friday, March 1st. Jefferies Financial Group raised their price objective on PTC Therapeutics from $33.00 to $35.00 and gave the company a "buy" rating in a research report on Wednesday, March 20th. TD Cowen cut their target price on PTC Therapeutics from $32.00 to $30.00 and set a "market perform" rating on the stock in a research note on Friday, March 1st. Cantor Fitzgerald reiterated an "overweight" rating and set a $45.00 target price on shares of PTC Therapeutics in a research note on Friday, April 12th. Finally, Morgan Stanley upgraded PTC Therapeutics from an "underweight" rating to an "equal weight" rating and increased their target price for the company from $28.00 to $30.00 in a research note on Monday. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, PTC Therapeutics currently has a consensus rating of "Hold" and a consensus price target of $33.67.

PTC Therapeutics Trading Up 12.5 %

The stock has a market capitalization of $2.47 billion, a PE ratio of -4.01 and a beta of 0.67. The stock has a 50 day moving average price of $28.15 and a 200-day moving average price of $25.83.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last released its quarterly earnings results 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. Research analysts forecast that PTC Therapeutics, Inc. will post -5.87 earnings per share for the current year.

Insider Transactions at PTC Therapeutics

In other 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 transaction, the chief executive officer now directly owns 225,807 shares in the company, valued at approximately $5,620,336.23. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold a total of 6,404 shares of company stock worth $165,506 in the last ninety days. Insiders own 5.30% of the company's stock.

Hedge Funds Weigh In On PTC Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hexagon Capital Partners LLC lifted its position in PTC Therapeutics by 132.0% during the fourth quarter. Hexagon Capital Partners LLC now owns 979 shares of the biopharmaceutical company's stock valued at $27,000 after purchasing an additional 557 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in PTC Therapeutics during the first quarter valued at $46,000. China Universal Asset Management Co. Ltd. lifted its position in PTC Therapeutics by 99.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,941 shares of the biopharmaceutical company's stock valued at $43,000 after purchasing an additional 969 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in PTC Therapeutics by 317.0% during the third quarter. Nisa Investment Advisors LLC now owns 2,656 shares of the biopharmaceutical company's stock valued at $60,000 after purchasing an additional 2,019 shares in the last quarter. Finally, Headlands Technologies LLC lifted its position in PTC Therapeutics by 248.0% during the fourth quarter. Headlands Technologies LLC now owns 4,684 shares of the biopharmaceutical company's stock valued at $129,000 after purchasing an additional 3,338 shares in the last quarter.

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.