Cantor Fitzgerald Increases PTC Therapeutics (NASDAQ:PTCT) Price Target to $113.00

PTC Therapeutics (NASDAQ:PTCT) had its price objective increased by Cantor Fitzgerald from $76.00 to $113.00 in a research note published on Monday,Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the biopharmaceutical company’s stock.

PTCT has been the topic of a number of other reports. Raymond James assumed coverage on shares of PTC Therapeutics in a research note on Thursday, October 10th. They issued a “market perform” rating on the stock. UBS Group raised their target price on shares of PTC Therapeutics from $47.00 to $71.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Citigroup upped their price target on shares of PTC Therapeutics from $26.00 to $32.00 and gave the stock a “sell” rating in a report on Wednesday, December 4th. Wells Fargo & Company increased their price target on PTC Therapeutics from $56.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Finally, StockNews.com lowered PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Three research analysts have rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, PTC Therapeutics currently has a consensus rating of “Hold” and an average price target of $57.85.

PTC Therapeutics Price Performance

NASDAQ PTCT opened at $50.01 on Monday. The business has a fifty day moving average price of $45.93 and a two-hundred day moving average price of $39.81. The stock has a market capitalization of $3.86 billion, a PE ratio of -8.42 and a beta of 0.62. PTC Therapeutics has a fifty-two week low of $23.58 and a fifty-two week high of $54.16.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($1.39) earnings per share for the quarter, topping the consensus estimate of ($1.54) by $0.15. The business had revenue of $196.79 million for the quarter, compared to the consensus estimate of $173.51 million. During the same quarter in the prior year, the company earned ($1.76) earnings per share. As a group, sell-side analysts expect that PTC Therapeutics will post -4.56 earnings per share for the current year.

Insider Buying and Selling at PTC Therapeutics

In other PTC Therapeutics news, VP Mark Elliott Boulding sold 85,600 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $52.26, for a total transaction of $4,473,456.00. Following the completion of the sale, the vice president now directly owns 92,389 shares in the company, valued at approximately $4,828,249.14. This trade represents a 48.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Neil Gregory Almstead sold 1,265 shares of PTC Therapeutics stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $45.34, for a total value of $57,355.10. Following the completion of the transaction, the insider now directly owns 104,783 shares of the company’s stock, valued at approximately $4,750,861.22. This trade represents a 1.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 211,737 shares of company stock valued at $10,920,687. 5.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PTC Therapeutics

Several large investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its stake in PTC Therapeutics by 7.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 706,730 shares of the biopharmaceutical company’s stock valued at $26,220,000 after buying an additional 47,902 shares during the period. Two Sigma Advisers LP lifted its position in shares of PTC Therapeutics by 10.3% during the 3rd quarter. Two Sigma Advisers LP now owns 429,842 shares of the biopharmaceutical company’s stock valued at $15,947,000 after acquiring an additional 40,300 shares during the period. Intech Investment Management LLC bought a new position in PTC Therapeutics during the third quarter worth $698,000. Quest Partners LLC grew its holdings in PTC Therapeutics by 433.9% in the third quarter. Quest Partners LLC now owns 22,359 shares of the biopharmaceutical company’s stock worth $830,000 after purchasing an additional 18,171 shares during the period. Finally, State Street Corp increased its stake in PTC Therapeutics by 5.4% in the third quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company’s stock valued at $107,554,000 after purchasing an additional 149,700 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.