PTC Therapeutics, Inc. (NASDAQ:PTCT) Given Consensus Recommendation of “Reduce” by Brokerages

PTC Therapeutics, Inc. (NASDAQ:PTCT) has been assigned an average recommendation of “Reduce” from the thirteen analysts that are covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $33.53.

A number of equities research analysts have recently issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price target on shares of PTC Therapeutics in a report on Friday, April 12th. Royal Bank of Canada boosted their price target on shares of PTC Therapeutics from $22.00 to $28.00 and gave the stock a “sector perform” rating in a research note on Friday, March 1st. Jefferies Financial Group upped their price objective on PTC Therapeutics from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Finally, TD Cowen reduced their target price on shares of PTC Therapeutics from $32.00 to $30.00 and set a “market perform” rating on the stock in a report on Friday, March 1st.

PTC Therapeutics Trading Up 2.6 %

PTCT stock opened at $25.97 on Tuesday. PTC Therapeutics has a 1-year low of $17.53 and a 1-year high of $59.84. The stock has a market cap of $1.99 billion, a P/E ratio of -3.11 and a beta of 0.67. The stock’s fifty day simple moving average is $28.08 and its two-hundred day simple moving average is $25.71.

PTC Therapeutics (NASDAQ:PTCT) last issued its earnings results on Thursday, February 29th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.53). The business had revenue of $307.06 million for the quarter, compared to analysts’ expectations of $315.90 million. As a group, analysts forecast that PTC Therapeutics will post -5.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In other PTC Therapeutics news, CEO Matthew B. Klein sold 3,361 shares of the company’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $24.89, for a total transaction of $83,655.29. Following the transaction, the chief executive officer now owns 225,807 shares in the company, valued at approximately $5,620,336.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 6,404 shares of company stock valued at $165,506 over the last three months. Corporate insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PTCT. Hexagon Capital Partners LLC boosted its stake in PTC Therapeutics by 132.0% during the fourth quarter. Hexagon Capital Partners LLC now owns 979 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 557 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of PTC Therapeutics by 99.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,941 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 969 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of PTC Therapeutics in the 1st quarter worth approximately $46,000. Nisa Investment Advisors LLC grew its stake in shares of PTC Therapeutics by 317.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,656 shares of the biopharmaceutical company’s stock worth $60,000 after buying an additional 2,019 shares during the last quarter. Finally, Headlands Technologies LLC increased its position in PTC Therapeutics by 248.0% during the 4th quarter. Headlands Technologies LLC now owns 4,684 shares of the biopharmaceutical company’s stock valued at $129,000 after buying an additional 3,338 shares in the last quarter.

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.