PTC Therapeutics (NASDAQ:PTCT) Receives Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of PTC Therapeutics (NASDAQ:PTCT) in a research note released on Tuesday, Benzinga reports. They currently have a $64.00 price objective on the biopharmaceutical company’s stock.

PTCT has been the subject of several other reports. The Goldman Sachs Group upped their target price on PTC Therapeutics from $18.00 to $32.00 and gave the stock a sell rating in a research note on Tuesday, May 28th. Jefferies Financial Group upped their target price on PTC Therapeutics from $35.00 to $46.00 and gave the stock a buy rating in a research note on Monday, May 20th. Bank of America upped their target price on PTC Therapeutics from $25.00 to $32.00 and gave the stock an underperform rating in a research note on Friday, June 21st. 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 note on Friday, August 9th. Finally, Robert W. Baird began coverage on PTC Therapeutics in a research note on Wednesday, September 4th. They issued an outperform rating and a $44.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of Hold and an average price target of $37.13.

PTC Therapeutics Trading Up 3.8 %

Shares of PTCT stock opened at $35.07 on Tuesday. The stock has a market cap of $2.69 billion, a P/E ratio of -4.57 and a beta of 0.64. The stock has a 50 day simple moving average of $33.21 and a 200 day simple moving average of $32.33. PTC Therapeutics has a 1 year low of $17.53 and a 1 year high of $40.69.

PTC Therapeutics (NASDAQ:PTCT) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.16) earnings per share 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. Analysts forecast that PTC Therapeutics will post -5.09 EPS for the current year.

Insiders Place Their Bets

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

Institutional Trading of PTC Therapeutics

A number of large investors have recently bought and sold shares of PTCT. Victory Capital Management Inc. acquired a new stake in PTC Therapeutics during the 4th quarter worth about $271,000. Charles Schwab Investment Management Inc. grew its holdings in PTC Therapeutics by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 610,918 shares of the biopharmaceutical company’s stock worth $16,837,000 after acquiring an additional 14,155 shares during the period. Jump Financial LLC boosted its position in shares of PTC Therapeutics by 70.4% during the 4th quarter. Jump Financial LLC now owns 26,256 shares of the biopharmaceutical company’s stock worth $724,000 after purchasing an additional 10,846 shares in the last quarter. Norges Bank bought a new position in shares of PTC Therapeutics during the 4th quarter worth about $15,058,000. Finally, UBS Group AG boosted its position in shares of PTC Therapeutics by 270.8% during the 4th quarter. UBS Group AG now owns 288,748 shares of the biopharmaceutical company’s stock worth $7,958,000 after purchasing an additional 210,883 shares in 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.