PTC Therapeutics (NASDAQ:PTCT) Stock Rating Reaffirmed by Cantor Fitzgerald

PTC Therapeutics (NASDAQ:PTCT)‘s stock had its “overweight” rating restated by research analysts at Cantor Fitzgerald in a note issued to investors on Friday, Benzinga reports. They currently have a $45.00 price objective on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target indicates a potential upside of 70.33% from the stock’s previous close.

Several other equities research analysts also recently issued reports on PTCT. Royal Bank of Canada increased their price objective on shares of PTC Therapeutics from $22.00 to $28.00 and gave the stock a “sector perform” rating in a research report on Friday, March 1st. Morgan Stanley downgraded shares of PTC Therapeutics from an “equal weight” rating to an “underweight” rating and set a $28.00 price objective for the company. in a research report on Tuesday, December 19th. TD Cowen decreased their target price on shares of PTC Therapeutics from $32.00 to $30.00 and set a “market perform” rating for the company in a research report on Friday, March 1st. Finally, Jefferies Financial Group raised their target price on shares of PTC Therapeutics from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Five investment analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, PTC Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $33.53.

PTC Therapeutics Stock Performance

PTCT opened at $26.42 on Friday. The firm’s fifty day moving average is $28.11 and its two-hundred day moving average is $25.54. PTC Therapeutics has a twelve month low of $17.53 and a twelve month high of $59.84. The firm has a market cap of $2.02 billion, a PE ratio of -3.16 and a beta of 0.67.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings data on Thursday, February 29th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.53). The firm had revenue of $307.06 million for the quarter, compared to the consensus estimate of $315.90 million. Equities analysts forecast that PTC Therapeutics will post -5.95 EPS for the current fiscal year.

Insider Activity

In other news, Director Allan Steven Jacobson sold 10,000 shares of PTC Therapeutics stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $27.38, for a total value of $273,800.00. Following the completion of the transaction, the director now owns 12,348 shares of the company’s stock, valued at approximately $338,088.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 12,256 shares of company stock valued at $335,865 in the last quarter. Company insiders own 5.30% of the company’s stock.

Institutional Trading of PTC Therapeutics

Hedge funds have recently modified their holdings of the stock. Hexagon Capital Partners LLC lifted its stake in shares of PTC Therapeutics by 132.0% during the 4th quarter. Hexagon Capital Partners LLC now owns 979 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 557 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its stake in PTC Therapeutics by 99.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,941 shares of the biopharmaceutical company’s stock worth $43,000 after purchasing an additional 969 shares in the last quarter. KBC Group NV acquired a new stake in PTC Therapeutics in the 4th quarter worth about $43,000. Nisa Investment Advisors LLC raised its stake in PTC Therapeutics by 317.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,656 shares of the biopharmaceutical company’s stock worth $60,000 after purchasing an additional 2,019 shares in the last quarter. Finally, Lazard Asset Management LLC raised its stake in PTC Therapeutics by 115.1% in the 4th quarter. Lazard Asset Management LLC now owns 2,478 shares of the biopharmaceutical company’s stock worth $94,000 after purchasing an additional 1,326 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.