PTC Therapeutics (NASDAQ:PTCT) Rating Reiterated by Cantor Fitzgerald

PTC Therapeutics (NASDAQ:PTCT - Get Free Report)'s stock had its "overweight" rating reiterated by analysts at Cantor Fitzgerald in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $64.00 price target on the biopharmaceutical company's stock. Cantor Fitzgerald's target price indicates a potential upside of 82.49% from the stock's current price.

A number of other research firms have also recently issued reports on PTCT. Bank of America boosted their price objective on PTC Therapeutics from $25.00 to $32.00 and gave the company an "underperform" rating in a report on Friday, June 21st. Citigroup lifted their price objective on shares of PTC Therapeutics from $18.00 to $26.00 and gave the company a "sell" rating in a report on Tuesday, May 21st. Jefferies Financial Group boosted their price objective on shares of PTC Therapeutics from $35.00 to $46.00 and gave the company a "buy" rating in a research report on Monday, May 20th. JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $53.00 target price on shares of PTC Therapeutics in a research report on Thursday, June 20th. Finally, Robert W. Baird assumed coverage on PTC Therapeutics in a report on Wednesday, September 4th. They issued an "outperform" rating and a $44.00 price target for the company. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, PTC Therapeutics presently has a consensus rating of "Hold" and an average target price of $37.13.

PTC Therapeutics Price Performance

Shares of NASDAQ PTCT traded up $1.30 during mid-day trading on Tuesday, hitting $35.07. 563,916 shares of the company's stock traded hands, compared to its average volume of 857,495. PTC Therapeutics has a 1 year low of $17.53 and a 1 year high of $40.69. The company's 50-day moving average is $33.14 and its two-hundred day moving average is $32.31. The company has a market capitalization of $2.69 billion, a P/E ratio of -4.45 and a beta of 0.64.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($0.16). The firm had revenue of $186.70 million during the quarter, compared to analyst estimates of $192.12 million. Equities analysts anticipate that PTC Therapeutics will post -5.09 EPS for the current fiscal year.

Insider Activity at PTC Therapeutics

In related news, CFO Pierre Gravier sold 2,269 shares of PTC Therapeutics stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $34.02, for a total transaction of $77,191.38. Following the completion of the sale, the chief financial officer now owns 53,531 shares of the company's stock, valued at $1,821,124.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 5.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PTCT. Allspring Global Investments Holdings LLC acquired a new position in shares of PTC Therapeutics in the first quarter worth about $46,000. Quest Partners LLC purchased a new position in PTC Therapeutics in the 2nd quarter valued at $128,000. Quarry LP boosted its stake in PTC Therapeutics by 100.0% during the 2nd quarter. Quarry LP now owns 5,000 shares of the biopharmaceutical company's stock worth $153,000 after purchasing an additional 2,500 shares during the last quarter. Lazard Asset Management LLC grew its holdings in shares of PTC Therapeutics by 268.9% during the first quarter. Lazard Asset Management LLC now owns 6,504 shares of the biopharmaceutical company's stock worth $188,000 after buying an additional 4,741 shares in the last quarter. Finally, Headlands Technologies LLC grew its holdings in shares of PTC Therapeutics by 83.2% during the second quarter. Headlands Technologies LLC now owns 6,611 shares of the biopharmaceutical company's stock worth $202,000 after buying an additional 3,002 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.