JPMorgan Chase & Co. Lowers PTC Therapeutics (NASDAQ:PTCT) Price Target to $72.00

PTC Therapeutics (NASDAQ:PTCT) had its price objective reduced by equities research analysts at JPMorgan Chase & Co. from $74.00 to $72.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 31.07% from the stock’s current price.

PTCT has been the topic of several other research reports. UBS Group upped their price objective on PTC Therapeutics from $47.00 to $71.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Morgan Stanley raised shares of PTC Therapeutics from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $45.00 to $67.00 in a report on Friday, December 13th. Wells Fargo & Company lifted their target price on shares of PTC Therapeutics from $56.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. The Goldman Sachs Group raised their price objective on PTC Therapeutics from $32.00 to $42.00 and gave the company a “sell” rating in a report on Wednesday, December 4th. Finally, Citigroup raised their price objective on PTC Therapeutics from $32.00 to $45.00 and gave the company a “sell” rating in a research note on Wednesday, February 12th. Three research analysts have rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $59.62.

PTC Therapeutics Trading Up 8.6 %

NASDAQ PTCT traded up $4.36 on Friday, hitting $54.93. 744,840 shares of the company were exchanged, compared to its average volume of 682,606. The company has a market cap of $4.24 billion, a PE ratio of -9.22 and a beta of 0.62. The stock has a fifty day moving average of $46.98 and a 200-day moving average of $42.01. PTC Therapeutics has a 12 month low of $24.00 and a 12 month high of $55.30.

Insider Activity at PTC Therapeutics

In related news, CFO Pierre Gravier sold 1,168 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total transaction of $58,516.80. Following the completion of the sale, the chief financial officer now owns 75,603 shares of the company’s stock, valued at approximately $3,787,710.30. This represents a 1.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew B. Klein sold 8,279 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $45.16, for a total transaction of $373,879.64. Following the sale, the chief executive officer now owns 217,528 shares of the company’s stock, valued at approximately $9,823,564.48. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 218,590 shares of company stock worth $11,264,023. 5.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On PTC Therapeutics

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

PTC Therapeutics Company Profile

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.