PTC Therapeutics (NASDAQ:PTCT) Rating Lowered to Hold at StockNews.com

PTC Therapeutics (NASDAQ:PTCT) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Monday.

PTCT has been the topic of several other reports. The Goldman Sachs Group lifted their target price on PTC Therapeutics from $32.00 to $42.00 and gave the company a “sell” rating in a research report on Wednesday, December 4th. Robert W. Baird boosted their price objective on PTC Therapeutics from $52.00 to $70.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada upgraded shares of PTC Therapeutics from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $39.00 to $63.00 in a research note on Tuesday, December 3rd. Cantor Fitzgerald lifted their price target on shares of PTC Therapeutics from $76.00 to $113.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, Morgan Stanley raised shares of PTC Therapeutics from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $45.00 to $67.00 in a research note on Friday, December 13th. Three research analysts have rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, PTC Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $58.85.

PTC Therapeutics Price Performance

Shares of PTCT traded up $2.15 on Monday, reaching $51.82. The company’s stock had a trading volume of 795,586 shares, compared to its average volume of 727,904. PTC Therapeutics has a 12-month low of $24.00 and a 12-month high of $54.16. The stock’s 50 day simple moving average is $46.52 and its two-hundred day simple moving average is $41.10. The stock has a market capitalization of $4.00 billion, a P/E ratio of -8.72 and a beta of 0.62.

Insider Buying and Selling at PTC Therapeutics

In other news, VP Mark Elliott Boulding sold 85,600 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $52.26, for a total value of $4,473,456.00. Following the sale, the vice president now owns 92,389 shares of the company’s stock, valued at approximately $4,828,249.14. This represents a 48.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Matthew B. Klein sold 8,279 shares of PTC Therapeutics stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $45.16, for a total transaction of $373,879.64. Following the transaction, the chief executive officer now directly owns 217,528 shares of the company’s stock, valued at approximately $9,823,564.48. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 211,737 shares of company stock worth $10,920,687 over the last 90 days. 5.50% of the stock is owned by insiders.

Institutional Trading of PTC Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of PTC Therapeutics by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 9,178,822 shares of the biopharmaceutical company’s stock valued at $414,332,000 after acquiring an additional 53,688 shares in the last quarter. Toronto Dominion Bank purchased a new position in PTC Therapeutics during the 4th quarter valued at about $148,363,000. State Street Corp raised its holdings in shares of PTC Therapeutics by 5.4% in the 3rd quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company’s stock valued at $107,554,000 after purchasing an additional 149,700 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of PTC Therapeutics by 24.4% in the 4th quarter. Janus Henderson Group PLC now owns 2,325,915 shares of the biopharmaceutical company’s stock worth $105,015,000 after purchasing an additional 455,698 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of PTC Therapeutics by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,798,666 shares of the biopharmaceutical company’s stock worth $66,743,000 after purchasing an additional 10,886 shares during the period.

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.