PTC Therapeutics (NASDAQ:PTCT) Upgraded at StockNews.com

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

PTCT has been the topic of a number of other reports. Raymond James initiated coverage on PTC Therapeutics in a research report on Thursday, October 10th. They set a “market perform” rating on the stock. Wells Fargo & Company raised their target price on PTC Therapeutics from $56.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Morgan Stanley upgraded PTC Therapeutics from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $45.00 to $67.00 in a research report on Friday, December 13th. JPMorgan Chase & Co. raised their target price on PTC Therapeutics from $51.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Finally, Robert W. Baird raised their target price on PTC Therapeutics from $52.00 to $70.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Three investment analysts have rated the stock with a sell rating, three have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $57.85.

PTC Therapeutics Stock Performance

Shares of PTCT opened at $49.47 on Friday. The business’s 50-day moving average is $46.44 and its two-hundred day moving average is $40.39. The company has a market capitalization of $3.82 billion, a P/E ratio of -8.33 and a beta of 0.62. PTC Therapeutics has a fifty-two week low of $23.58 and a fifty-two week high of $54.16.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($1.39) earnings per share for the quarter, topping the consensus estimate of ($1.54) by $0.15. The company had revenue of $196.79 million for the quarter, compared to analyst estimates of $173.51 million. During the same period in the prior year, the business posted ($1.76) earnings per share. Analysts forecast that PTC Therapeutics will post -4.56 EPS for the current year.

Insiders Place Their Bets

In other PTC Therapeutics news, VP Mark Elliott Boulding sold 85,600 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $52.26, for a total value of $4,473,456.00. Following the transaction, the vice president now directly owns 92,389 shares of the company’s stock, valued at $4,828,249.14. This trade represents a 48.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Neil Gregory Almstead sold 69,550 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $52.06, for a total transaction of $3,620,773.00. Following the completion of the transaction, the insider now directly owns 86,202 shares in the company, valued at $4,487,676.12. This trade represents a 44.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 211,737 shares of company stock valued at $10,920,687 in the last ninety days. 5.50% of the stock is currently owned by corporate insiders.

Institutional Trading of PTC Therapeutics

Institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position in shares of PTC Therapeutics by 7.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 706,730 shares of the biopharmaceutical company’s stock valued at $26,220,000 after buying an additional 47,902 shares during the period. Two Sigma Advisers LP raised its position in shares of PTC Therapeutics by 10.3% during the 3rd quarter. Two Sigma Advisers LP now owns 429,842 shares of the biopharmaceutical company’s stock valued at $15,947,000 after buying an additional 40,300 shares during the period. Intech Investment Management LLC purchased a new stake in shares of PTC Therapeutics during the 3rd quarter valued at approximately $698,000. Quest Partners LLC raised its position in shares of PTC Therapeutics by 433.9% during 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. Finally, State Street Corp raised its position in shares of PTC Therapeutics by 5.4% during the 3rd quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company’s stock valued at $107,554,000 after buying an additional 149,700 shares during the period.

About PTC Therapeutics

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.