PTC Therapeutics, Inc. (NASDAQ:PTCT) Receives $63.75 Consensus PT from Brokerages

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the fourteen research firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $63.75.

Several analysts recently weighed in on the stock. Barclays reduced their price objective on shares of PTC Therapeutics from $56.00 to $42.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 8th. Wall Street Zen downgraded PTC Therapeutics from a "strong-buy" rating to a "buy" rating in a report on Friday, May 16th. Wells Fargo & Company increased their price target on PTC Therapeutics from $68.00 to $74.00 and gave the company an "overweight" rating in a research note on Tuesday, May 27th. Cantor Fitzgerald lowered their price objective on PTC Therapeutics from $113.00 to $112.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Finally, Citigroup raised PTC Therapeutics from a "sell" rating to a "neutral" rating and cut their price objective for the stock from $50.00 to $40.00 in a research note on Wednesday, May 7th.

Insider Transactions at PTC Therapeutics

In other PTC Therapeutics news, CEO Matthew B. Klein sold 2,804 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 273,234 shares in the company, valued at $13,317,425.16. This trade represents a 1.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Allan Steven Jacobson sold 1,230 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $51.52, for a total transaction of $63,369.60. Following the completion of the sale, the director now owns 19,118 shares of the company's stock, valued at approximately $984,959.36. The trade was a 6.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,264 shares of company stock valued at $1,469,137. 5.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PTCT. Janney Montgomery Scott LLC increased its stake in PTC Therapeutics by 8.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 5,965 shares of the biopharmaceutical company's stock worth $269,000 after purchasing an additional 455 shares during the period. KBC Group NV grew its holdings in PTC Therapeutics by 36.4% in the 4th quarter. KBC Group NV now owns 3,045 shares of the biopharmaceutical company's stock worth $137,000 after acquiring an additional 813 shares during the last quarter. R Squared Ltd bought a new position in shares of PTC Therapeutics during the fourth quarter valued at about $79,000. China Universal Asset Management Co. Ltd. boosted its holdings in shares of PTC Therapeutics by 10.5% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 16,353 shares of the biopharmaceutical company's stock worth $738,000 after purchasing an additional 1,558 shares during the period. Finally, Nadler Financial Group Inc. purchased a new position in PTC Therapeutics during the 4th quarter valued at about $223,000.

PTC Therapeutics Stock Down 0.1%

Shares of PTC Therapeutics stock traded down $0.07 during trading on Wednesday, reaching $48.82. The company's stock had a trading volume of 790,857 shares, compared to its average volume of 861,055. The business's 50-day moving average price is $46.48 and its 200-day moving average price is $47.54. PTC Therapeutics has a 52 week low of $28.72 and a 52 week high of $58.38. The firm has a market cap of $3.87 billion, a PE ratio of -8.22 and a beta of 0.52.

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