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

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) have been given an average rating of “Hold” by the fifteen brokerages that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $55.00.

PTCT has been the subject of a number of research analyst reports. Royal Bank of Canada upgraded PTC Therapeutics from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $39.00 to $63.00 in a report on Tuesday, December 3rd. Robert W. Baird lifted their target price on PTC Therapeutics from $52.00 to $70.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. JPMorgan Chase & Co. boosted their price objective on PTC Therapeutics from $51.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. Cantor Fitzgerald decreased their price objective on PTC Therapeutics from $80.00 to $76.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Finally, Barclays boosted their price objective on PTC Therapeutics from $45.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday, December 3rd.

PTC Therapeutics Price Performance

Shares of PTCT opened at $45.08 on Thursday. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of -7.59 and a beta of 0.62. The business has a 50-day moving average of $45.25 and a 200-day moving average of $39.09. PTC Therapeutics has a 1 year low of $23.58 and a 1 year high of $54.16.

PTC Therapeutics (NASDAQ:PTCT) last issued its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($1.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.54) by $0.15. The business had revenue of $196.79 million during the quarter, compared to the consensus estimate of $173.51 million. During the same quarter in the previous year, the firm posted ($1.76) earnings per share. As a group, sell-side analysts anticipate that PTC Therapeutics will post -4.75 EPS for the current year.

Insider Activity

In related news, Director Jerome B. Zeldis sold 24,000 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $51.50, for a total transaction of $1,236,000.00. Following the sale, the director now directly owns 14,500 shares in the company, valued at approximately $746,750. The trade was a 62.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Neil Gregory Almstead sold 1,265 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $45.34, for a total value of $57,355.10. Following the sale, the insider now owns 104,783 shares in the company, valued at approximately $4,750,861.22. The trade was a 1.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 211,737 shares of company stock valued at $10,920,687 in the last 90 days. Insiders own 5.50% of the company’s stock.

Institutional Trading of PTC Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Armistice Capital LLC raised its stake in shares of PTC Therapeutics by 2.9% during the 2nd quarter. Armistice Capital LLC now owns 6,962,227 shares of the biopharmaceutical company’s stock valued at $212,905,000 after purchasing an additional 198,227 shares during the period. State Street Corp increased its stake in PTC Therapeutics by 5.4% in the 3rd quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company’s stock worth $107,554,000 after acquiring an additional 149,700 shares during the last quarter. Geode Capital Management LLC increased its stake in PTC Therapeutics by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,798,666 shares of the biopharmaceutical company’s stock worth $66,743,000 after acquiring an additional 10,886 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in PTC Therapeutics by 7.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 706,730 shares of the biopharmaceutical company’s stock worth $26,220,000 after acquiring an additional 47,902 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its stake in PTC Therapeutics by 945.6% in the 3rd quarter. Point72 Asset Management L.P. now owns 575,860 shares of the biopharmaceutical company’s stock worth $21,364,000 after acquiring an additional 643,960 shares during 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.