PTC Therapeutics, Inc. (NASDAQ:PTCT) Receives Consensus Recommendation of “Hold” from Analysts

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) have earned a consensus recommendation of “Hold” from the sixteen analysts that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $37.64.

Several brokerages recently issued reports on PTCT. Baird R W raised shares of PTC Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. Bank of America raised their target price on PTC Therapeutics from $25.00 to $32.00 and gave the company an “underperform” rating in a research note on Friday, June 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $64.00 price target on shares of PTC Therapeutics in a research note on Tuesday, September 17th. Morgan Stanley raised their price objective on PTC Therapeutics from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, July 12th. Finally, Barclays upped their target price on PTC Therapeutics from $25.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th.

PTC Therapeutics Stock Up 2.8 %

PTCT stock opened at $37.66 on Friday. The firm has a market cap of $2.89 billion, a price-to-earnings ratio of -4.90 and a beta of 0.64. The company’s fifty day simple moving average is $33.68 and its 200 day simple moving average is $32.58. PTC Therapeutics has a 12-month low of $17.53 and a 12-month high of $40.69.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($0.16). The business had revenue of $186.70 million during the quarter, compared to analysts’ expectations of $192.12 million. Research analysts expect that PTC Therapeutics will post -5.09 earnings per share for the current year.

Insider Buying and Selling

In other PTC Therapeutics news, CFO Pierre Gravier sold 2,269 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $34.02, for a total value of $77,191.38. Following the completion of the sale, the chief financial officer now owns 53,531 shares in the company, valued at approximately $1,821,124.62. The transaction was disclosed in a document filed with the SEC, which is available at this link. 5.50% of the stock is owned by corporate insiders.

Institutional Trading of PTC Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of PTCT. Victory Capital Management Inc. bought a new position in PTC Therapeutics in the 4th quarter valued at $271,000. Charles Schwab Investment Management Inc. grew its position in PTC Therapeutics by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 610,918 shares of the biopharmaceutical company’s stock valued at $16,837,000 after buying an additional 14,155 shares during the period. Norges Bank bought a new position in PTC Therapeutics during the fourth quarter valued at about $15,058,000. UBS Group AG increased its holdings in PTC Therapeutics by 270.8% during the fourth quarter. UBS Group AG now owns 288,748 shares of the biopharmaceutical company’s stock worth $7,958,000 after buying an additional 210,883 shares during the last quarter. Finally, Rafferty Asset Management LLC raised its position in PTC Therapeutics by 64.8% in the fourth quarter. Rafferty Asset Management LLC now owns 339,963 shares of the biopharmaceutical company’s stock worth $9,369,000 after acquiring an additional 133,676 shares during the period.

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.