Brokerages Set PTC Therapeutics, Inc. (NASDAQ:PTCT) PT at $63.54

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) have earned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, four have given a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $64.00.

Several research analysts have recently commented on the company. Morgan Stanley reaffirmed an “overweight” rating and issued a $70.00 price objective (up previously from $67.00) on shares of PTC Therapeutics in a research note on Friday, March 7th. Royal Bank of Canada raised their target price on shares of PTC Therapeutics from $60.00 to $63.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Citigroup upped their price target on shares of PTC Therapeutics from $32.00 to $45.00 and gave the stock a “sell” rating in a research report on Wednesday, February 12th. Cantor Fitzgerald raised their price objective on shares of PTC Therapeutics from $76.00 to $113.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Wells Fargo & Company upped their target price on shares of PTC Therapeutics from $56.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th.

Insider Transactions at PTC Therapeutics

In related news, Director Stephanie Okey sold 5,000 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $54.00, for a total transaction of $270,000.00. Following the completion of the sale, the director now owns 8,867 shares of the company’s stock, valued at approximately $478,818. This represents a 36.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Mark Elliott Boulding sold 15,521 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $53.30, for a total value of $827,269.30. Following the completion of the sale, the vice president now owns 103,901 shares of the company’s stock, valued at approximately $5,537,923.30. The trade was a 13.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,391 shares of company stock valued at $2,172,927 over the last 90 days. Corporate insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D increased its position in shares of PTC Therapeutics by 7.0% during the third quarter. State of New Jersey Common Pension Fund D now owns 56,820 shares of the biopharmaceutical company’s stock worth $2,108,000 after acquiring an additional 3,727 shares during the period. Los Angeles Capital Management LLC increased its holdings in PTC Therapeutics by 40.0% during the 3rd quarter. Los Angeles Capital Management LLC now owns 15,130 shares of the biopharmaceutical company’s stock worth $561,000 after purchasing an additional 4,325 shares during the period. KBC Group NV raised its position in PTC Therapeutics by 29.2% in the 3rd 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. Thrivent Financial for Lutherans acquired a new stake in PTC Therapeutics in the 3rd quarter valued at about $1,450,000. Finally, Quest Partners LLC boosted its stake in shares of PTC Therapeutics by 433.9% in the 3rd quarter. Quest Partners LLC now owns 22,359 shares of the biopharmaceutical company’s stock valued at $830,000 after buying an additional 18,171 shares during the period.

PTC Therapeutics Stock Performance

PTC Therapeutics stock opened at $55.47 on Friday. The stock has a market cap of $4.37 billion, a PE ratio of -9.34 and a beta of 0.66. The stock has a fifty day moving average of $49.05 and a 200 day moving average of $43.92. PTC Therapeutics has a one year low of $24.00 and a one year high of $58.38.

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.