PTC Therapeutics, Inc. (NASDAQ:PTCT) Given Average Rating of “Hold” by Brokerages

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) have been assigned an average recommendation of “Hold” from the seventeen analysts that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $76.00.

A number of brokerages have recently issued reports on PTCT. Citigroup upped their target price on shares of PTC Therapeutics from $50.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, November 5th. Weiss Ratings reissued a “hold (c)” rating on shares of PTC Therapeutics in a research report on Monday, December 8th. The Goldman Sachs Group upped their price objective on PTC Therapeutics from $44.00 to $50.00 and gave the company a “sell” rating in a research note on Wednesday, November 5th. Jefferies Financial Group raised their price objective on PTC Therapeutics from $63.00 to $77.00 and gave the company a “buy” rating in a research report on Tuesday, October 28th. Finally, Cowen reissued a “hold” rating on shares of PTC Therapeutics in a report on Wednesday, November 5th.

PTC Therapeutics Trading Up 0.3%

NASDAQ PTCT opened at $75.64 on Friday. PTC Therapeutics has a 12 month low of $35.95 and a 12 month high of $87.50. The stock has a 50 day moving average of $72.48 and a 200-day moving average of $59.10. The company has a market cap of $6.07 billion, a PE ratio of 8.84, a PEG ratio of 0.27 and a beta of 0.47.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.19) by $1.39. The firm had revenue of $211.01 million for the quarter, compared to analyst estimates of $177.42 million. PTC Therapeutics had a net margin of 42.25% and a negative return on equity of 194.11%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.39) earnings per share. As a group, sell-side analysts predict that PTC Therapeutics will post -4.52 EPS for the current fiscal year.

Insider Activity at PTC Therapeutics

In other news, insider Neil Gregory Almstead sold 71,928 shares of the stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $83.44, for a total value of $6,001,672.32. Following the transaction, the insider directly owned 100,625 shares of the company’s stock, valued at $8,396,150. This represents a 41.68% 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 this link. Also, VP Mark Elliott Boulding sold 22,655 shares of the firm’s stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $65.82, for a total transaction of $1,491,152.10. Following the sale, the vice president owned 103,901 shares of the company’s stock, valued at approximately $6,838,763.82. This represents a 17.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 294,330 shares of company stock valued at $21,909,850 in the last ninety days. Company insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On PTC Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in PTCT. IFP Advisors Inc increased its stake in shares of PTC Therapeutics by 68.1% during the third quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 310 shares during the period. Cambria Investment Management L.P. grew its holdings in PTC Therapeutics by 24.9% in the 3rd quarter. Cambria Investment Management L.P. now owns 11,634 shares of the biopharmaceutical company’s stock valued at $714,000 after buying an additional 2,322 shares in the last quarter. CIBC Bancorp USA Inc. bought a new position in PTC Therapeutics during the 3rd quarter worth $508,000. Danske Bank A S acquired a new stake in shares of PTC Therapeutics during the third quarter worth $1,152,000. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in shares of PTC Therapeutics by 55.9% during the third quarter. CANADA LIFE ASSURANCE Co now owns 33,984 shares of the biopharmaceutical company’s stock worth $2,060,000 after buying an additional 12,191 shares in the last quarter.

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.