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

PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) has been given a consensus rating of "Moderate Buy" by the fifteen analysts that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $63.92.

PTCT has been the subject of a number of analyst reports. Cantor Fitzgerald raised their price objective on PTC Therapeutics from $76.00 to $113.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Morgan Stanley restated an "overweight" rating and set a $70.00 price target (up from $67.00) on shares of PTC Therapeutics in a report on Friday, March 7th. Citigroup upped their price target on shares of PTC Therapeutics from $32.00 to $45.00 and gave the stock a "sell" rating in a research note on Wednesday, February 12th. Bank of America upgraded shares of PTC Therapeutics from an "underperform" rating to a "neutral" rating and raised their price objective for the company from $41.00 to $55.00 in a research note on Tuesday, March 11th. Finally, StockNews.com downgraded shares of PTC Therapeutics from a "buy" rating to a "hold" rating in a research note on Monday, February 17th.

Insider Buying and Selling

In other news, CAO Christine Marie Utter sold 879 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 value of $44,037.90. Following the completion of the sale, the chief accounting officer now directly owns 63,442 shares in the company, valued at $3,178,444.20. This represents a 1.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Lee Scott Golden sold 795 shares of PTC Therapeutics stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total value of $39,829.50. Following the transaction, the executive vice president now owns 77,856 shares in the company, valued at $3,900,585.60. This trade represents a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,305 shares of company stock valued at $1,682,755 over the last 90 days. Company insiders own 5.50% of the company's stock.

Institutional Trading of PTC Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of PTC Therapeutics by 0.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,681 shares of the biopharmaceutical company's stock valued at $2,967,000 after acquiring an additional 205 shares during the period. Arizona State Retirement System lifted its holdings in PTC Therapeutics by 1.1% during the fourth quarter. Arizona State Retirement System now owns 20,095 shares of the biopharmaceutical company's stock valued at $907,000 after purchasing an additional 219 shares in the last quarter. Choreo LLC boosted its position in shares of PTC Therapeutics by 2.0% in the fourth quarter. Choreo LLC now owns 11,961 shares of the biopharmaceutical company's stock worth $541,000 after purchasing an additional 240 shares during the period. Summit Investment Advisors Inc. increased its stake in shares of PTC Therapeutics by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 7,968 shares of the biopharmaceutical company's stock worth $360,000 after purchasing an additional 253 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its position in shares of PTC Therapeutics by 78.7% during the 4th 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.

PTC Therapeutics Stock Performance

Shares of PTCT opened at $49.95 on Friday. PTC Therapeutics has a fifty-two week low of $28.72 and a fifty-two week high of $58.38. The firm's 50-day simple moving average is $50.00 and its two-hundred day simple moving average is $46.90. The stock has a market cap of $3.94 billion, a PE ratio of -8.41 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.