PTC Therapeutics (NASDAQ:PTCT) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of PTC Therapeutics (NASDAQ:PTCT) from a buy rating to a hold rating in a report published on Monday.

Several other equities analysts also recently weighed in on the stock. Royal Bank of Canada upgraded shares of PTC Therapeutics from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $39.00 to $63.00 in a report on Tuesday, December 3rd. UBS Group raised their price objective on shares of PTC Therapeutics from $47.00 to $71.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Barclays upped their target price on PTC Therapeutics from $45.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 3rd. Cantor Fitzgerald increased their target price on PTC Therapeutics from $76.00 to $113.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, Wells Fargo & Company boosted their price target on PTC Therapeutics from $56.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $58.85.

PTC Therapeutics Stock Performance

Shares of PTCT stock opened at $50.42 on Monday. The stock’s 50-day moving average is $46.52 and its two-hundred day moving average is $41.29. PTC Therapeutics has a 1 year low of $24.00 and a 1 year high of $54.16. The firm has a market cap of $3.89 billion, a price-to-earnings ratio of -8.49 and a beta of 0.62.

Insider Buying and Selling

In related news, CEO Matthew B. Klein sold 8,279 shares of the company’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $45.16, for a total value of $373,879.64. Following the completion of the transaction, the chief executive officer now directly owns 217,528 shares in the company, valued at approximately $9,823,564.48. This represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Christine Marie Utter sold 1,291 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $45.34, for a total transaction of $58,533.94. Following the completion of the sale, the chief accounting officer now directly owns 65,983 shares in the company, valued at $2,991,669.22. This trade represents a 1.92 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 211,737 shares of company stock valued at $10,920,687. 5.50% of the stock is owned by company insiders.

Institutional Trading of PTC Therapeutics

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in PTC Therapeutics by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 9,178,822 shares of the biopharmaceutical company’s stock valued at $414,332,000 after buying an additional 53,688 shares during the last quarter. Toronto Dominion Bank acquired a new position in shares of PTC Therapeutics during the fourth quarter valued at $148,363,000. State Street Corp lifted its stake in shares of PTC Therapeutics by 5.4% during the third quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company’s stock valued at $107,554,000 after acquiring an additional 149,700 shares during the period. Janus Henderson Group PLC boosted its holdings in PTC Therapeutics by 24.4% in the fourth quarter. Janus Henderson Group PLC now owns 2,325,915 shares of the biopharmaceutical company’s stock valued at $105,015,000 after acquiring an additional 455,698 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in PTC Therapeutics by 0.6% in the third quarter. Geode Capital Management LLC now owns 1,798,666 shares of the biopharmaceutical company’s stock worth $66,743,000 after purchasing an additional 10,886 shares during the period.

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.