PTC Therapeutics (NASDAQ:PTCT) Trading Down 3.4% – What’s Next?

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) traded down 3.4% during trading on Wednesday . The stock traded as low as $39.35 and last traded at $39.38. 394,177 shares changed hands during trading, a decline of 54% from the average session volume of 853,565 shares. The stock had previously closed at $40.77.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PTCT shares. UBS Group initiated coverage on shares of PTC Therapeutics in a research note on Monday, August 26th. They set a “buy” rating and a $47.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $64.00 target price on shares of PTC Therapeutics in a research report on Tuesday, September 17th. JPMorgan Chase & Co. restated an “overweight” rating and set a $53.00 price target on shares of PTC Therapeutics in a research report on Thursday, June 20th. Morgan Stanley increased their price objective on 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, Royal Bank of Canada lifted their target price on shares of PTC Therapeutics from $32.00 to $34.00 and gave the stock a “sector perform” rating in a research note on Friday, October 4th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $39.08.

PTC Therapeutics Stock Down 2.0 %

The firm has a 50-day moving average of $34.22 and a two-hundred day moving average of $33.00. The company has a market capitalization of $3.06 billion, a PE ratio of -5.31 and a beta of 0.65.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.16). The company had revenue of $186.70 million during the quarter, compared to analysts’ expectations of $192.12 million. On average, equities research analysts expect that PTC Therapeutics, Inc. will post -5.09 EPS for the current year.

Insider Activity at PTC Therapeutics

In other news, CFO Pierre Gravier sold 2,269 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $34.02, for a total transaction of $77,191.38. Following the sale, the chief financial officer now owns 53,531 shares of the company’s stock, valued at approximately $1,821,124.62. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PTCT. Wellington Management Group LLP increased its position in shares of PTC Therapeutics by 4.0% in the 4th quarter. Wellington Management Group LLP now owns 9,816,603 shares of the biopharmaceutical company’s stock valued at $270,546,000 after purchasing an additional 380,415 shares during the last quarter. Vanguard Group Inc. increased its holdings in PTC Therapeutics by 6.5% in the first quarter. Vanguard Group Inc. now owns 9,369,014 shares of the biopharmaceutical company’s stock valued at $272,545,000 after buying an additional 568,171 shares during the last quarter. Armistice Capital LLC raised its stake in PTC Therapeutics by 2.9% in the second quarter. Armistice Capital LLC now owns 6,962,227 shares of the biopharmaceutical company’s stock valued at $212,905,000 after buying an additional 198,227 shares in the last quarter. Cowen AND Company LLC lifted its holdings in PTC Therapeutics by 0.8% during the 2nd quarter. Cowen AND Company LLC now owns 3,756,469 shares of the biopharmaceutical company’s stock worth $114,873,000 after buying an additional 30,843 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of PTC Therapeutics by 40.5% during the 1st quarter. Janus Henderson Group PLC now owns 3,669,816 shares of the biopharmaceutical company’s stock worth $106,744,000 after acquiring an additional 1,057,223 shares in the last quarter.

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.