PTC Therapeutics, Inc. (NASDAQ:PTCT) Receives Consensus Recommendation of “Hold” from Analysts

PTC Therapeutics, Inc. (NASDAQ:PTCT) has been given a consensus recommendation of “Hold” by the fifteen analysts that are currently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $55.00.

A number of equities research analysts have recently commented on PTCT shares. UBS Group raised their price objective on shares of PTC Therapeutics from $47.00 to $71.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Cantor Fitzgerald cut their price objective on shares of PTC Therapeutics from $80.00 to $76.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Citigroup increased their target price on shares of PTC Therapeutics from $26.00 to $32.00 and gave the stock a “sell” rating in a research note on Wednesday, December 4th. Royal Bank of Canada raised PTC Therapeutics from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $39.00 to $63.00 in a report on Tuesday, December 3rd. Finally, StockNews.com lowered PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th.

Insider Activity

In other news, insider Neil Gregory Almstead sold 69,550 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $52.06, for a total value of $3,620,773.00. Following the completion of the sale, the insider now owns 86,202 shares of the company’s stock, valued at $4,487,676.12. This represents a 44.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Matthew B. Klein sold 8,279 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $45.16, for a total value of $373,879.64. Following the completion of the transaction, the chief executive officer now owns 217,528 shares in the company, valued at $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 ninety days. Corporate insiders own 5.50% of the company’s stock.

Institutional Trading of PTC Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of PTCT. Point72 Asset Management L.P. increased its position in shares of PTC Therapeutics by 945.6% during the third quarter. Point72 Asset Management L.P. now owns 575,860 shares of the biopharmaceutical company’s stock valued at $21,364,000 after acquiring an additional 643,960 shares during the last quarter. Armistice Capital LLC lifted its position in shares of PTC Therapeutics by 2.9% during the second quarter. Armistice Capital LLC now owns 6,962,227 shares of the biopharmaceutical company’s stock worth $212,905,000 after purchasing an additional 198,227 shares in the last quarter. Parkman Healthcare Partners LLC acquired a new stake in PTC Therapeutics during the 3rd quarter worth approximately $7,234,000. Ensign Peak Advisors Inc boosted its holdings in PTC Therapeutics by 650.9% in the second quarter. Ensign Peak Advisors Inc now owns 208,302 shares of the biopharmaceutical company’s stock valued at $6,370,000 after purchasing an additional 180,561 shares during the period. Finally, Millennium Management LLC boosted its stake in shares of PTC Therapeutics by 123.2% in the 2nd quarter. Millennium Management LLC now owns 317,579 shares of the biopharmaceutical company’s stock valued at $9,712,000 after buying an additional 175,289 shares during the period.

PTC Therapeutics Price Performance

PTCT stock opened at $45.22 on Thursday. The firm’s fifty day simple moving average is $45.81 and its 200-day simple moving average is $39.60. PTC Therapeutics has a 12 month low of $23.58 and a 12 month high of $54.16. The company has a market capitalization of $3.49 billion, a P/E ratio of -7.61 and a beta of 0.62.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($1.39) earnings per share for the quarter, topping the consensus estimate of ($1.54) by $0.15. The company had revenue of $196.79 million for the quarter, compared to analyst estimates of $173.51 million. During the same period in the prior year, the business posted ($1.76) earnings per share. As a group, sell-side analysts forecast that PTC Therapeutics will post -4.66 earnings per share for the current year.

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.