Cantor Fitzgerald Increases PTC Therapeutics (NASDAQ:PTCT) Price Target to $113.00

PTC Therapeutics (NASDAQ:PTCT) had its target price boosted by analysts at Cantor Fitzgerald from $76.00 to $113.00 in a report released on Monday,Benzinga reports. The firm currently has an “overweight” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target suggests a potential upside of 131.27% from the company’s current price.

Other equities analysts have also issued research reports about the company. The Goldman Sachs Group raised their price objective on PTC Therapeutics from $32.00 to $42.00 and gave the stock a “sell” rating in a report on Wednesday, December 4th. UBS Group boosted their price objective on shares of PTC Therapeutics from $47.00 to $71.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Robert W. Baird lifted their target price on shares of PTC Therapeutics from $52.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Citigroup increased their price target on shares of PTC Therapeutics from $26.00 to $32.00 and gave the stock a “sell” rating in a report on Wednesday, December 4th. Finally, Morgan Stanley raised PTC Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $45.00 to $67.00 in a report on Friday, December 13th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, PTC Therapeutics presently has an average rating of “Hold” and a consensus price target of $57.85.

PTC Therapeutics Stock Performance

NASDAQ PTCT traded up $2.98 during trading on Monday, reaching $48.86. 157,425 shares of the company’s stock were exchanged, compared to its average volume of 595,260. PTC Therapeutics has a 1 year low of $23.58 and a 1 year high of $54.16. The stock has a market cap of $3.77 billion, a P/E ratio of -8.21 and a beta of 0.62. The company has a 50 day moving average price of $45.93 and a two-hundred day moving average price of $39.81.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($1.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.54) by $0.15. The business had revenue of $196.79 million during the quarter, compared to analyst estimates of $173.51 million. During the same period last year, the company earned ($1.76) earnings per share. Research analysts forecast that PTC Therapeutics will post -4.56 EPS for the current fiscal year.

Insider Buying and Selling at PTC Therapeutics

In other news, insider Neil Gregory Almstead sold 1,265 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $45.34, for a total value of $57,355.10. Following the completion of the transaction, the insider now directly owns 104,783 shares of the company’s stock, valued at $4,750,861.22. The trade was a 1.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Christine Marie Utter sold 17,800 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $51.77, for a total value of $921,506.00. Following the sale, the chief accounting officer now directly owns 52,428 shares in the company, valued at approximately $2,714,197.56. The trade was a 25.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 211,737 shares of company stock valued at $10,920,687. Insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On PTC Therapeutics

Institutional investors have recently modified their holdings of the company. Ieq Capital LLC purchased a new position in PTC Therapeutics during the fourth quarter worth about $230,000. Venturi Wealth Management LLC purchased a new position in shares of PTC Therapeutics during the 4th quarter worth about $68,000. Rhumbline Advisers boosted its position in shares of PTC Therapeutics by 1.5% in the fourth quarter. Rhumbline Advisers now owns 112,401 shares of the biopharmaceutical company’s stock worth $5,074,000 after acquiring an additional 1,630 shares during the last quarter. Vontobel Holding Ltd. purchased a new stake in PTC Therapeutics in the fourth quarter valued at approximately $521,000. Finally, Savant Capital LLC acquired a new position in PTC Therapeutics during the fourth quarter worth approximately $210,000.

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.