PTC Therapeutics, Inc. (NASDAQ:PTCT) Receives $63.54 Consensus Target Price from Analysts

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) have been given an average recommendation of “Moderate Buy” by the fifteen brokerages that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $64.00.

PTCT has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective on PTC Therapeutics from $56.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. UBS Group lifted their price target on PTC Therapeutics from $47.00 to $71.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Robert W. Baird raised their target price on shares of PTC Therapeutics from $52.00 to $70.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Citigroup upped their price objective on PTC Therapeutics from $32.00 to $45.00 and gave the stock a “sell” rating in a report on Wednesday, February 12th. Finally, Morgan Stanley reissued an “overweight” rating and set a $70.00 price objective (up from $67.00) on shares of PTC Therapeutics in a report on Friday, March 7th.

PTC Therapeutics Price Performance

NASDAQ PTCT opened at $54.50 on Friday. The company’s 50 day simple moving average is $48.60 and its two-hundred day simple moving average is $43.63. PTC Therapeutics has a 1 year low of $24.00 and a 1 year high of $55.65. The stock has a market capitalization of $4.30 billion, a PE ratio of -9.18 and a beta of 0.66.

Insider Transactions at PTC Therapeutics

In related news, Director Allan Steven Jacobson sold 1,230 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $51.52, for a total value of $63,369.60. Following the sale, the director now directly owns 19,118 shares of the company’s stock, valued at $984,959.36. This trade represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Matthew B. Klein sold 8,279 shares of the business’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $45.16, for a total value of $373,879.64. Following the transaction, the chief executive officer now owns 217,528 shares in the company, valued at approximately $9,823,564.48. This represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,391 shares of company stock worth $1,902,927. Insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On PTC Therapeutics

Large investors have recently made changes to their positions in the business. Vontobel Holding Ltd. bought a new position in shares of PTC Therapeutics during the fourth quarter valued at approximately $521,000. Charles Schwab Investment Management Inc. increased its position in PTC Therapeutics by 7.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 706,730 shares of the biopharmaceutical company’s stock valued at $26,220,000 after purchasing an additional 47,902 shares during the period. Two Sigma Advisers LP raised its holdings in PTC Therapeutics by 10.3% in the 3rd quarter. Two Sigma Advisers LP now owns 429,842 shares of the biopharmaceutical company’s stock worth $15,947,000 after purchasing an additional 40,300 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of PTC Therapeutics in the 3rd quarter worth about $698,000. Finally, Quest Partners LLC lifted its position in shares of PTC Therapeutics by 433.9% in the 3rd 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.

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.