PTC Therapeutics, Inc. (NASDAQ:PTCT) Receives $58.85 Consensus Target Price from Analysts

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) have earned an average recommendation of “Hold” from the fifteen ratings firms that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $58.85.

Several research analysts recently weighed in on the company. Royal Bank of Canada increased their price objective on PTC Therapeutics from $60.00 to $63.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Cantor Fitzgerald increased their price objective on PTC Therapeutics from $76.00 to $113.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Wells Fargo & Company increased their price objective on PTC Therapeutics from $56.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. upped their price target on PTC Therapeutics from $51.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. Finally, Robert W. Baird upped their price target on PTC Therapeutics from $52.00 to $70.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd.

Insider Activity

In other news, CAO Christine Marie Utter sold 17,800 shares of the stock in a transaction on Monday, December 2nd. The stock was 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. This trade represents a 25.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lee Scott Golden sold 795 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total value of $39,829.50. Following the completion of the sale, the executive vice president now owns 77,856 shares in the company, valued at approximately $3,900,585.60. This represents a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 218,590 shares of company stock worth $11,264,023. Corporate insiders own 5.50% of the company’s stock.

Institutional Trading of PTC Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of PTCT. CWM LLC raised its stake in PTC Therapeutics by 354.7% in the third quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company’s stock valued at $100,000 after buying an additional 2,096 shares in the last quarter. Creative Planning raised its stake in PTC Therapeutics by 8.1% in the third quarter. Creative Planning now owns 10,944 shares of the biopharmaceutical company’s stock valued at $406,000 after buying an additional 816 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in PTC Therapeutics by 32.1% in the third quarter. Assenagon Asset Management S.A. now owns 492,464 shares of the biopharmaceutical company’s stock valued at $18,270,000 after buying an additional 119,637 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in PTC Therapeutics by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 492 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its stake in PTC Therapeutics by 64.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 14,795 shares of the biopharmaceutical company’s stock valued at $549,000 after buying an additional 5,783 shares in the last quarter.

PTC Therapeutics Stock Performance

Shares of PTC Therapeutics stock opened at $50.69 on Monday. The firm has a market capitalization of $3.91 billion, a price-to-earnings ratio of -8.53 and a beta of 0.62. PTC Therapeutics has a fifty-two week low of $24.00 and a fifty-two week high of $54.16. The stock has a 50 day moving average of $46.67 and a 200 day moving average of $41.62.

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.