PTC Therapeutics (NASDAQ:PTCT) Price Target Increased to $45.00 by Analysts at Morgan Stanley

PTC Therapeutics (NASDAQ:PTCT) had its price objective upped by Morgan Stanley from $32.00 to $45.00 in a report released on Friday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the biopharmaceutical company’s stock.

PTCT has been the topic of a number of other research reports. UBS Group initiated coverage on PTC Therapeutics in a research report on Monday, August 26th. They set a buy rating and a $47.00 price objective on the stock. JPMorgan Chase & Co. reaffirmed an overweight rating and issued a $53.00 price objective on shares of PTC Therapeutics in a research note on Thursday, June 20th. Royal Bank of Canada upped their price target on shares of PTC Therapeutics from $32.00 to $34.00 and gave the company a sector perform rating in a research report on Friday, October 4th. Cantor Fitzgerald reiterated an overweight rating and set a $64.00 price target on shares of PTC Therapeutics in a report on Tuesday, September 17th. Finally, Robert W. Baird reissued an outperform rating and issued a $44.00 price objective on shares of PTC Therapeutics in a research note on Tuesday. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $40.08.

PTC Therapeutics Trading Up 1.3 %

PTCT stock opened at $39.00 on Friday. The stock has a market capitalization of $3.00 billion, a P/E ratio of -6.18 and a beta of 0.65. The firm has a 50-day moving average price of $34.46 and a 200-day moving average price of $33.08. PTC Therapeutics has a 12 month low of $17.53 and a 12 month high of $41.81.

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

Insiders Place Their Bets

In other news, CFO Pierre Gravier sold 2,269 shares of PTC Therapeutics stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $34.02, for a total value of $77,191.38. Following the completion of the sale, the chief financial officer now owns 53,531 shares in the company, valued at $1,821,124.62. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Choreo LLC lifted its stake in shares of PTC Therapeutics by 4.1% in the second quarter. Choreo LLC now owns 11,426 shares of the biopharmaceutical company’s stock valued at $356,000 after buying an additional 452 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of PTC Therapeutics by 3.4% in the 2nd 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 last quarter. Creative Planning lifted its position in PTC Therapeutics by 8.1% in the 3rd quarter. Creative Planning now owns 10,944 shares of the biopharmaceutical company’s stock valued at $406,000 after acquiring an additional 816 shares in the last quarter. Diversified Trust Co boosted its stake in PTC Therapeutics by 5.6% during the 2nd quarter. Diversified Trust Co now owns 15,317 shares of the biopharmaceutical company’s stock valued at $468,000 after purchasing an additional 818 shares during the last quarter. Finally, ProShare Advisors LLC boosted its stake 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 last quarter.

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.