PTC Therapeutics, Inc. (NASDAQ:PTCT) Receives Average Recommendation of "Moderate Buy" from Brokerages

PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the fifteen research firms that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $63.77.

PTCT has been the subject of a number of research reports. JPMorgan Chase & Co. reduced their price target on shares of PTC Therapeutics from $78.00 to $75.00 and set an "overweight" rating for the company in a research report on Monday, March 31st. Citigroup upped their target price on PTC Therapeutics from $32.00 to $45.00 and gave the company a "sell" rating in a research report on Wednesday, February 12th. Cantor Fitzgerald lifted their price target on PTC Therapeutics from $76.00 to $113.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. StockNews.com downgraded PTC Therapeutics from a "buy" rating to a "hold" rating in a report on Monday, February 17th. Finally, Scotiabank initiated coverage on shares of PTC Therapeutics in a report on Friday, March 7th. They issued a "sector perform" rating and a $55.00 target price on the stock.

Insider Transactions at PTC Therapeutics

In other PTC Therapeutics news, CFO Pierre Gravier sold 1,168 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $50.10, for a total transaction of $58,516.80. Following the transaction, the chief financial officer now owns 75,603 shares in the company, valued at approximately $3,787,710.30. The trade was a 1.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Stephanie Okey sold 5,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $54.00, for a total value of $270,000.00. Following the transaction, the director now directly owns 8,867 shares of the company's stock, valued at approximately $478,818. This trade represents a 36.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,501 shares of company stock worth $1,546,088 over the last ninety days. 5.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PTC Therapeutics

Several institutional investors have recently made changes to their positions in PTCT. Smartleaf Asset Management LLC lifted its stake in shares of 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 during the period. Sterling Capital Management LLC lifted its position in shares of PTC Therapeutics by 424.4% during the 4th quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company's stock valued at $29,000 after acquiring an additional 522 shares during the period. Venturi Wealth Management LLC purchased a new stake in shares of PTC Therapeutics during the 4th quarter worth approximately $68,000. GF Fund Management CO. LTD. acquired a new stake in shares of PTC Therapeutics in the 4th quarter worth approximately $73,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in PTC Therapeutics in the 4th quarter valued at approximately $77,000.

PTC Therapeutics Price Performance

Shares of NASDAQ:PTCT traded up $2.69 during trading on Tuesday, hitting $42.98. 1,488,774 shares of the company were exchanged, compared to its average volume of 816,833. The firm's 50 day moving average price is $50.48 and its 200-day moving average price is $45.82. PTC Therapeutics has a 12-month low of $24.00 and a 12-month high of $58.38. The stock has a market capitalization of $3.39 billion, a P/E ratio of -7.24 and a beta of 0.58.

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.