PTC Therapeutics (NASDAQ:PTCT) Given New $63.00 Price Target at Royal Bank of Canada

PTC Therapeutics (NASDAQ:PTCT) had its target price hoisted by Royal Bank of Canada from $60.00 to $63.00 in a research report report published on Tuesday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the biopharmaceutical company’s stock.

PTCT has been the topic of several other research reports. JPMorgan Chase & Co. raised their target price on shares of PTC Therapeutics from $51.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. UBS Group lifted their price target 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. The Goldman Sachs Group raised their price objective on PTC Therapeutics from $32.00 to $42.00 and gave the stock a “sell” rating in a report on Wednesday, December 4th. Wells Fargo & Company upped their target price on shares of PTC Therapeutics from $56.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Finally, 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. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, PTC Therapeutics has a consensus rating of “Hold” and a consensus target price of $58.85.

PTC Therapeutics Trading Down 4.6 %

PTCT stock opened at $49.44 on Tuesday. The company has a market capitalization of $3.81 billion, a PE ratio of -8.32 and a beta of 0.62. The business’s fifty day moving average price is $46.52 and its 200 day moving average price is $41.10. PTC Therapeutics has a 12-month low of $24.00 and a 12-month high of $54.16.

Insider Buying and Selling

In other PTC Therapeutics news, CAO Christine Marie Utter sold 17,800 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $51.77, for a total value of $921,506.00. Following the transaction, the chief accounting officer now directly owns 52,428 shares in the company, valued at approximately $2,714,197.56. This represents a 25.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Eric Pauwels sold 1,599 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $45.34, for a total transaction of $72,498.66. Following the sale, the chief executive officer now owns 88,941 shares in the company, valued at approximately $4,032,584.94. This trade represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 211,737 shares of company stock worth $10,920,687 in the last ninety days. Insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in PTCT. CWM LLC boosted its position in shares of PTC Therapeutics by 354.7% in the third quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company’s stock worth $100,000 after buying an additional 2,096 shares during the period. Creative Planning grew its position in shares of PTC Therapeutics by 8.1% during the third quarter. Creative Planning now owns 10,944 shares of the biopharmaceutical company’s stock worth $406,000 after buying an additional 816 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of PTC Therapeutics by 32.1% in the third quarter. Assenagon Asset Management S.A. now owns 492,464 shares of the biopharmaceutical company’s stock worth $18,270,000 after buying an additional 119,637 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in PTC Therapeutics by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 492 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in PTC Therapeutics by 64.2% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 14,795 shares of the biopharmaceutical company’s stock worth $549,000 after buying an additional 5,783 shares during 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.