Weekly Research Analysts’ Ratings Changes for PTC Therapeutics (PTCT)

Several brokerages have updated their recommendations and price targets on shares of PTC Therapeutics (NASDAQ: PTCT) in the last few weeks:

• 12/18/2024 – PTC Therapeutics was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 12/13/2024 – PTC Therapeutics was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating. They now have a $67.00 price target on the stock, up previously from $45.00.
• 12/4/2024 – PTC Therapeutics had its price target raised by analysts at Citigroup Inc. from $26.00 to $32.00. They now have a “sell” rating on the stock.
• 12/4/2024 – PTC Therapeutics had its price target raised by analysts at The Goldman Sachs Group, Inc. from $32.00 to $42.00. They now have a “sell” rating on the stock.
• 12/4/2024 – PTC Therapeutics was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 12/3/2024 – PTC Therapeutics had its price target raised by analysts at Robert W. Baird from $52.00 to $70.00. They now have an “outperform” rating on the stock.
• 12/3/2024 – PTC Therapeutics was upgraded by analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating. They now have a $63.00 price target on the stock, up previously from $39.00.
• 12/3/2024 – PTC Therapeutics had its price target raised by analysts at Barclays PLC from $45.00 to $56.00. They now have an “equal weight” rating on the stock.
• 12/3/2024 – PTC Therapeutics had its price target raised by analysts at UBS Group AG from $47.00 to $71.00. They now have a “buy” rating on the stock.
• 11/27/2024 – PTC Therapeutics had its price target raised by analysts at Robert W. Baird from $48.00 to $52.00. They now have an “outperform” rating on the stock.
• 11/26/2024 – PTC Therapeutics had its price target raised by analysts at Wells Fargo & Company from $56.00 to $68.00. They now have an “overweight” rating on the stock.
• 11/19/2024 – PTC Therapeutics had its price target raised by analysts at JPMorgan Chase & Co. from $51.00 to $62.00. They now have an “overweight” rating on the stock.
• 11/19/2024 – PTC Therapeutics was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 11/11/2024 – PTC Therapeutics had its price target raised by analysts at Barclays PLC from $31.00 to $43.00. They now have an “equal weight” rating on the stock.
• 11/11/2024 – PTC Therapeutics was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 11/8/2024 – PTC Therapeutics had its price target raised by analysts at Robert W. Baird from $44.00 to $48.00. They now have an “outperform” rating on the stock.

PTC Therapeutics Price Performance

NASDAQ:PTCT traded up $0.47 during midday trading on Friday, reaching $45.72. 178,475 shares of the company traded hands, compared to its average volume of 844,314. The company has a fifty day moving average price of $43.36 and a 200 day moving average price of $37.46. The firm has a market capitalization of $3.53 billion, a price-to-earnings ratio of -7.70 and a beta of 0.63. PTC Therapeutics, Inc. has a twelve month low of $23.58 and a twelve month high of $54.16.

Insider Activity at PTC Therapeutics

In other PTC Therapeutics news, Director Jerome B. Zeldis sold 24,000 shares of PTC Therapeutics stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $51.50, for a total value of $1,236,000.00. Following the transaction, the director now owns 14,500 shares in the company, valued at approximately $746,750. The trade was a 62.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Christine Marie Utter sold 17,800 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $51.77, for a total value of $921,506.00. Following the sale, the chief accounting officer now directly owns 52,428 shares in the company, valued at $2,714,197.56. This trade represents a 25.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 196,950 shares of company stock worth $10,251,735 in the last ninety days. 5.50% of the stock is owned by insiders.

Hedge Funds Weigh In On PTC Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. KBC Group NV grew its stake in PTC Therapeutics by 29.2% in the third quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock valued at $83,000 after purchasing an additional 504 shares in the last quarter. CWM LLC raised its holdings in shares of PTC Therapeutics by 354.7% during the 3rd quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company’s stock valued at $100,000 after purchasing an additional 2,096 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of PTC Therapeutics by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock valued at $104,000 after purchasing an additional 492 shares during the last quarter. Quest Partners LLC bought a new stake in PTC Therapeutics in the second quarter worth $128,000. Finally, Quarry LP increased its position in PTC Therapeutics by 100.0% during the second quarter. Quarry LP now owns 5,000 shares of the biopharmaceutical company’s stock worth $153,000 after buying an additional 2,500 shares during the last quarter.

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.