PTC Therapeutics (NASDAQ:PTCT – Get Rating)‘s stock had its “maintains” rating reaffirmed by investment analysts at 1-800-FLOWERS.COM in a report released on Wednesday, Benzinga reports.
Other analysts have also issued reports about the stock. Cantor Fitzgerald reduced their price target on shares of PTC Therapeutics from $68.00 to $66.00 and set an “overweight” rating for the company in a research note on Wednesday, February 22nd. William Blair restated an “outperform” rating on shares of PTC Therapeutics in a research report on Wednesday, March 22nd. Citigroup cut their price objective on shares of PTC Therapeutics from $70.00 to $63.00 in a research report on Wednesday. Bank of America upped their price target on shares of PTC Therapeutics from $36.00 to $43.00 in a report on Thursday, May 18th. Finally, Royal Bank of Canada upped their price objective on shares of PTC Therapeutics from $44.00 to $51.00 in a research note on Wednesday, February 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $52.93.
PTC Therapeutics Price Performance
Shares of NASDAQ PTCT opened at $43.46 on Wednesday. PTC Therapeutics has a 1 year low of $25.01 and a 1 year high of $59.84. The stock has a market cap of $3.22 billion, a P/E ratio of -5.51 and a beta of 0.43. The firm has a 50-day moving average of $51.69 and a 200 day moving average of $45.65.
Insider Buying and Selling
In other news, Director David P. Southwell sold 10,000 shares of PTC Therapeutics stock in a transaction on Monday, March 27th. The stock was sold at an average price of $45.10, for a total transaction of $451,000.00. Following the transaction, the director now owns 10,500 shares in the company, valued at approximately $473,550. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CAO Christine Marie Utter sold 26,658 shares of the business’s stock in a transaction dated Monday, March 27th. The stock was sold at an average price of $45.09, for a total transaction of $1,202,009.22. Following the completion of the transaction, the chief accounting officer now directly owns 38,059 shares of the company’s stock, valued at $1,716,080.31. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David P. Southwell sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 27th. The stock was sold at an average price of $45.10, for a total value of $451,000.00. Following the sale, the director now owns 10,500 shares of the company’s stock, valued at approximately $473,550. The disclosure for this sale can be found here. In the last quarter, insiders have sold 158,595 shares of company stock worth $7,968,916. 5.30% of the stock is owned by company insiders.
Institutional Investors Weigh In On PTC Therapeutics
Several large investors have recently modified their holdings of PTCT. RTW Investments LP boosted its holdings in shares of PTC Therapeutics by 26.3% in the first quarter. RTW Investments LP now owns 7,093,298 shares of the biopharmaceutical company’s stock valued at $343,599,000 after acquiring an additional 1,477,911 shares during the period. Norges Bank purchased a new stake in PTC Therapeutics during the 4th quarter worth about $24,587,000. Armistice Capital LLC boosted its stake in PTC Therapeutics by 17.1% in the 4th quarter. Armistice Capital LLC now owns 3,396,000 shares of the biopharmaceutical company’s stock worth $129,625,000 after buying an additional 496,000 shares during the last quarter. State Street Corp lifted its stake in shares of PTC Therapeutics by 13.8% in the 2nd quarter. State Street Corp now owns 3,624,877 shares of the biopharmaceutical company’s stock valued at $145,213,000 after purchasing an additional 440,850 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of PTC Therapeutics by 33.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,717,765 shares of the biopharmaceutical company’s stock valued at $83,210,000 after buying an additional 433,376 shares during the period.
PTC Therapeutics Company Profile
PTC Therapeutics, Inc is a biopharmaceutical company. It engages in discovery, development, and commercialization of clinically differentiated medicines that provide benefits to patients with rare disorders. The company was founded by Allan Steven Jacobson and Stuart Walter Peltz on March 31, 1998 and is headquartered in South Plainfield, NJ.
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