Brokerages Set PTC Therapeutics, Inc. (NASDAQ:PTCT) Price Target at $58.85

PTC Therapeutics, Inc. (NASDAQ:PTCT) has received a consensus recommendation of “Hold” from the fifteen brokerages that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $58.85.

Several analysts recently issued reports on the company. JPMorgan Chase & Co. upped their target price on PTC Therapeutics from $51.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. Morgan Stanley upgraded PTC Therapeutics from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $45.00 to $67.00 in a report on Friday, December 13th. The Goldman Sachs Group upped their target price on PTC Therapeutics from $32.00 to $42.00 and gave the stock a “sell” rating in a report on Wednesday, December 4th. StockNews.com lowered PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Finally, UBS Group upped their price objective on PTC Therapeutics from $47.00 to $71.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd.

PTC Therapeutics Stock Performance

PTCT opened at $50.69 on Monday. PTC Therapeutics has a 52-week low of $24.00 and a 52-week high of $54.16. The firm has a market capitalization of $3.91 billion, a PE ratio of -8.53 and a beta of 0.62. The business’s 50-day simple moving average is $46.67 and its 200 day simple moving average is $41.49.

Insider Transactions at PTC Therapeutics

In other news, CEO Matthew B. Klein sold 8,279 shares of the stock in a transaction that occurred on 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 owns 217,528 shares in the company, valued at approximately $9,823,564.48. This trade represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Mark Elliott Boulding sold 85,600 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $52.26, for a total value of $4,473,456.00. Following the transaction, the vice president now owns 92,389 shares in the company, valued at approximately $4,828,249.14. This trade represents a 48.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 218,590 shares of company stock worth $11,264,023. Company insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On PTC Therapeutics

Large investors have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC grew its position in PTC Therapeutics by 78.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 270 shares in the last quarter. Sterling Capital Management LLC grew its position in PTC Therapeutics by 424.4% during the fourth quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 522 shares in the last quarter. Venturi Wealth Management LLC acquired a new stake in PTC Therapeutics during the fourth quarter worth approximately $68,000. GF Fund Management CO. LTD. acquired a new stake in PTC Therapeutics during the fourth quarter worth approximately $73,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in PTC Therapeutics during the fourth quarter worth approximately $77,000.

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.