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

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) have been given a consensus rating of “Hold” by the thirteen analysts that are presently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and four have assigned a 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 $35.85.

Several equities research analysts recently issued reports on PTCT shares. Citigroup boosted their price target on PTC Therapeutics from $18.00 to $26.00 and gave the company a “sell” rating in a research note on Tuesday, May 21st. Bank of America boosted their price target on PTC Therapeutics from $25.00 to $32.00 and gave the company an “underperform” rating in a research note on Friday, June 21st. Raymond James upgraded shares of PTC Therapeutics from an “underperform” rating to a “market perform” rating in a research note on Monday, May 20th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $53.00 target price on shares of PTC Therapeutics in a research report on Thursday, June 20th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $64.00 price target on shares of PTC Therapeutics in a research report on Wednesday, August 21st.

Insider Buying and Selling at PTC Therapeutics

In other news, CFO Pierre Gravier sold 2,269 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $34.02, for a total value of $77,191.38. Following the completion of the transaction, the chief financial officer now owns 53,531 shares of the company’s stock, valued at $1,821,124.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.50% of the company’s stock.

Institutional Trading of PTC Therapeutics

Several institutional investors have recently modified their holdings of the business. Choreo LLC raised its position in PTC Therapeutics by 4.1% during the 2nd quarter. Choreo LLC now owns 11,426 shares of the biopharmaceutical company’s stock worth $356,000 after purchasing an additional 452 shares during the last quarter. Hexagon Capital Partners LLC raised its position in shares of PTC Therapeutics by 132.0% during the fourth quarter. Hexagon Capital Partners LLC now owns 979 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 557 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of PTC Therapeutics by 3.4% in the second quarter. Arizona State Retirement System now owns 19,301 shares of the biopharmaceutical company’s stock worth $590,000 after acquiring an additional 636 shares during the period. Diversified Trust Co boosted its holdings in PTC Therapeutics by 5.6% in the second quarter. Diversified Trust Co now owns 15,317 shares of the biopharmaceutical company’s stock valued at $468,000 after acquiring an additional 818 shares during the last quarter. Finally, ProShare Advisors LLC increased its position in PTC Therapeutics by 9.3% during the 1st quarter. ProShare Advisors LLC now owns 18,313 shares of the biopharmaceutical company’s stock valued at $533,000 after purchasing an additional 1,564 shares during the period.

PTC Therapeutics Stock Up 2.2 %

NASDAQ PTCT opened at $34.15 on Monday. The firm has a 50-day moving average price of $33.07 and a two-hundred day moving average price of $31.49. PTC Therapeutics has a 12-month low of $17.53 and a 12-month high of $41.93. The company has a market capitalization of $2.62 billion, a P/E ratio of -4.45 and a beta of 0.65.

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.