Brokerages Set PTC Therapeutics, Inc. (NASDAQ:PTCT) Target Price at $76.00

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) have received a consensus recommendation of “Hold” from the seventeen ratings firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $76.00.

Several analysts have issued reports on PTCT shares. Morgan Stanley decreased their price target on shares of PTC Therapeutics from $76.00 to $71.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 20th. Cantor Fitzgerald reissued an “overweight” rating and set a $118.00 target price on shares of PTC Therapeutics in a research report on Wednesday, September 3rd. Wall Street Zen cut PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, December 6th. TD Cowen raised their price objective on PTC Therapeutics from $50.00 to $63.00 and gave the stock a “hold” rating in a research report on Wednesday, November 5th. Finally, Jefferies Financial Group boosted their price objective on PTC Therapeutics from $63.00 to $77.00 and gave the company a “buy” rating in a research report on Tuesday, October 28th.

PTC Therapeutics Stock Down 1.1%

Shares of NASDAQ PTCT opened at $75.42 on Friday. PTC Therapeutics has a 12 month low of $35.95 and a 12 month high of $87.50. The company has a market cap of $6.06 billion, a P/E ratio of 8.81, a P/E/G ratio of 0.27 and a beta of 0.47. The business’s 50 day moving average is $72.94 and its two-hundred day moving average is $59.57.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.19) by $1.39. PTC Therapeutics had a net margin of 42.25% and a negative return on equity of 194.11%. The business had revenue of $211.01 million for the quarter, compared to the consensus estimate of $177.42 million. During the same quarter last year, the company posted ($1.39) earnings per share. PTC Therapeutics’s quarterly revenue was up 7.2% on a year-over-year basis. Sell-side analysts expect that PTC Therapeutics will post -4.52 earnings per share for the current fiscal year.

Insider Transactions at PTC Therapeutics

In other news, Director Allan Steven Jacobson sold 14,199 shares of PTC Therapeutics stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $83.55, for a total transaction of $1,186,326.45. Following the sale, the director directly owned 17,451 shares in the company, valued at approximately $1,458,031.05. The trade was a 44.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew B. Klein sold 3,428 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $79.07, for a total transaction of $271,051.96. Following the completion of the sale, the chief executive officer directly owned 349,964 shares in the company, valued at approximately $27,671,653.48. The trade was a 0.97% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 294,330 shares of company stock worth $21,909,850. 5.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PTC Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc raised its holdings in shares of PTC Therapeutics by 68.1% in the 3rd quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock worth $47,000 after buying an additional 310 shares in the last quarter. Cambria Investment Management L.P. grew its position in PTC Therapeutics by 24.9% in the third quarter. Cambria Investment Management L.P. now owns 11,634 shares of the biopharmaceutical company’s stock valued at $714,000 after acquiring an additional 2,322 shares during the period. CIBC Bancorp USA Inc. bought a new stake in PTC Therapeutics in the third quarter valued at $508,000. Danske Bank A S acquired a new position in PTC Therapeutics during the third quarter worth $1,152,000. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in shares of PTC Therapeutics by 55.9% during the third quarter. CANADA LIFE ASSURANCE Co now owns 33,984 shares of the biopharmaceutical company’s stock valued at $2,060,000 after acquiring an additional 12,191 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.