PTC Therapeutics’ (PTCT) Overweight Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of PTC Therapeutics (NASDAQ:PTCT) in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has a $64.00 price target on the biopharmaceutical company’s stock.

A number of other research firms have also recently weighed in on PTCT. Jefferies Financial Group upped their price target on PTC Therapeutics from $35.00 to $46.00 and gave the stock a buy rating in a report on Monday, May 20th. UBS Group initiated coverage on shares of PTC Therapeutics in a research note on Monday, August 26th. They issued a buy rating and a $47.00 target price on the stock. Baird R W upgraded PTC Therapeutics to a strong-buy rating in a research note on Wednesday, September 4th. The Goldman Sachs Group boosted their target price on shares of PTC Therapeutics from $18.00 to $32.00 and gave the company a sell rating in a research note on Tuesday, May 28th. Finally, Raymond James upgraded shares of PTC Therapeutics from an underperform rating to a market perform rating in a research report on Monday, May 20th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $37.64.

PTC Therapeutics Trading Up 1.9 %

NASDAQ:PTCT opened at $36.16 on Tuesday. The firm’s fifty day simple moving average is $33.35 and its 200 day simple moving average is $32.38. PTC Therapeutics has a twelve month low of $17.53 and a twelve month high of $40.69. The firm has a market capitalization of $2.77 billion, a price-to-earnings ratio of -4.71 and a beta of 0.64.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.16) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.16). The business had revenue of $186.70 million during the quarter, compared to the consensus estimate of $192.12 million. On average, analysts predict that PTC Therapeutics will post -5.09 earnings per share for the current year.

Insider Transactions at PTC Therapeutics

In related news, CFO Pierre Gravier sold 2,269 shares of the firm’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 sale, the chief financial officer now directly owns 53,531 shares in the company, valued at approximately $1,821,124.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On PTC Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP lifted its stake in shares of PTC Therapeutics by 4.0% in the 4th quarter. Wellington Management Group LLP now owns 9,816,603 shares of the biopharmaceutical company’s stock worth $270,546,000 after acquiring an additional 380,415 shares during the period. Vanguard Group Inc. lifted its position in PTC Therapeutics by 6.5% in the first quarter. Vanguard Group Inc. now owns 9,369,014 shares of the biopharmaceutical company’s stock worth $272,545,000 after purchasing an additional 568,171 shares during the period. RTW Investments LP boosted its stake in PTC Therapeutics by 2.6% during the 4th quarter. RTW Investments LP now owns 7,423,970 shares of the biopharmaceutical company’s stock valued at $204,605,000 after purchasing an additional 188,774 shares in the last quarter. Armistice Capital LLC increased its position 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. Finally, Cowen AND Company LLC raised its stake in shares of PTC Therapeutics by 0.8% in the 2nd quarter. Cowen AND Company LLC now owns 3,756,469 shares of the biopharmaceutical company’s stock worth $114,873,000 after buying an additional 30,843 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.