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

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) have earned a consensus rating of “Reduce” from the thirteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $33.67.

Several research firms have weighed in on PTCT. Morgan Stanley raised shares of PTC Therapeutics from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $28.00 to $30.00 in a research note on Monday. Jefferies Financial Group increased their target price on PTC Therapeutics from $33.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Royal Bank of Canada lifted their price target on PTC Therapeutics from $22.00 to $28.00 and gave the stock a “sector perform” rating in a research note on Friday, March 1st. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price objective on shares of PTC Therapeutics in a research note on Friday, April 12th. Finally, TD Cowen decreased 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 research note on Friday, March 1st.

PTC Therapeutics Price Performance

Shares of NASDAQ PTCT opened at $32.14 on Tuesday. The stock’s 50-day moving average is $28.28 and its 200 day moving average is $25.92. PTC Therapeutics has a 1-year low of $17.53 and a 1-year high of $59.84.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.20) EPS for the quarter, topping the consensus estimate of ($1.21) by $0.01. The business had revenue of $210.12 million for the quarter, compared to analysts’ expectations of $160.27 million. Equities research analysts expect that PTC Therapeutics will post -5.87 earnings per share for the current year.

Insider Transactions at PTC Therapeutics

In related news, CEO Matthew B. Klein sold 3,361 shares of the business’s stock in a transaction dated Friday, April 19th. The shares were 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 $5,620,336.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders sold 4,674 shares of company stock valued at $118,363. Company insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Rathbones Group PLC bought a new position in PTC Therapeutics in the third quarter worth $532,000. Charles Schwab Investment Management Inc. grew its position in shares of PTC Therapeutics by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 596,763 shares of the biopharmaceutical company’s stock worth $13,373,000 after buying an additional 23,288 shares during the period. Walleye Capital LLC increased its stake in shares of PTC Therapeutics by 958.6% in the 3rd quarter. Walleye Capital LLC now owns 72,030 shares of the biopharmaceutical company’s stock worth $1,614,000 after acquiring an additional 65,226 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of PTC Therapeutics by 10.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,122,698 shares of the biopharmaceutical company’s stock valued at $25,160,000 after purchasing an additional 104,024 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in PTC Therapeutics by 5.2% during the third quarter. Vanguard Group Inc. now owns 7,945,489 shares of the biopharmaceutical company’s stock valued at $178,058,000 after buying an additional 393,012 shares during the last quarter.

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.