PTC Therapeutics (NASDAQ:PTCT) Earns Buy Rating from Analysts at UBS Group

UBS Group initiated coverage on shares of PTC Therapeutics (NASDAQ:PTCT) in a report issued on Monday, MarketBeat.com reports. The firm issued a buy rating and a $47.00 price objective on the biopharmaceutical company’s stock.

PTCT has been the subject of several other research reports. JPMorgan Chase & Co. restated an overweight rating and issued a $53.00 price target on shares of PTC Therapeutics in a research report on Thursday, June 20th. The Goldman Sachs Group upped their price objective on shares of PTC Therapeutics from $18.00 to $32.00 and gave the company a sell rating in a research note on Tuesday, May 28th. Raymond James upgraded shares of PTC Therapeutics from an underperform rating to a market perform rating in a research note on Monday, May 20th. Morgan Stanley upped their price objective on shares of PTC Therapeutics from $30.00 to $32.00 and gave the company an equal weight rating in a research note on Friday, July 12th. Finally, Jefferies Financial Group upped their price objective on shares of PTC Therapeutics from $35.00 to $46.00 and gave the company a buy rating in a research note on Monday, May 20th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $36.64.

PTC Therapeutics Stock Performance

Shares of NASDAQ:PTCT opened at $35.53 on Monday. The company has a market cap of $2.73 billion, a PE ratio of -4.63 and a beta of 0.65. PTC Therapeutics has a 52 week low of $17.53 and a 52 week high of $41.93. The firm has a 50 day simple moving average of $33.09 and a 200 day simple moving average of $31.68.

Insider Transactions at PTC Therapeutics

In other news, CFO Pierre Gravier sold 2,269 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $34.02, for a total transaction of $77,191.38. Following the transaction, the chief financial officer now owns 53,531 shares in the company, valued at approximately $1,821,124.62. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.50% of the stock is currently owned by company insiders.

Institutional Trading of PTC Therapeutics

Several large investors have recently modified their holdings of PTCT. Handelsbanken Fonder AB boosted its holdings in shares of PTC Therapeutics by 25.6% during the 4th quarter. Handelsbanken Fonder AB now owns 16,700 shares of the biopharmaceutical company’s stock worth $460,000 after buying an additional 3,400 shares during the period. Headlands Technologies LLC boosted its holdings in shares of PTC Therapeutics by 248.0% during the 4th quarter. Headlands Technologies LLC now owns 4,684 shares of the biopharmaceutical company’s stock worth $129,000 after buying an additional 3,338 shares during the period. Hexagon Capital Partners LLC boosted its holdings in shares of PTC Therapeutics by 132.0% during the 4th quarter. Hexagon Capital Partners LLC now owns 979 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 557 shares during the period. Victory Capital Management Inc. bought a new stake in shares of PTC Therapeutics during the 4th quarter worth $271,000. Finally, Los Angeles Capital Management LLC bought a new stake in shares of PTC Therapeutics during the 4th quarter worth $242,000.

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.