Brokerages Set PTC Therapeutics, Inc. (NASDAQ:PTCT) Price Target at $54.08

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) have been given an average recommendation of "Hold" by the fifteen research firms that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, three have given a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $54.08.

A number of analysts have recently issued reports on the stock. Cantor Fitzgerald reissued an "overweight" rating and issued a $64.00 price objective on shares of PTC Therapeutics in a research note on Tuesday, September 17th. JPMorgan Chase & Co. increased their price target on PTC Therapeutics from $51.00 to $62.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 19th. Barclays boosted their price objective on PTC Therapeutics from $45.00 to $56.00 and gave the company an "equal weight" rating in a research report on Tuesday, December 3rd. Raymond James assumed coverage on PTC Therapeutics in a research report on Thursday, October 10th. They set a "market perform" rating for the company. Finally, The Goldman Sachs Group boosted their price target on PTC Therapeutics from $32.00 to $42.00 and gave the stock a "sell" rating in a report on Wednesday, December 4th.

PTC Therapeutics Price Performance

Shares of NASDAQ:PTCT traded down $0.61 during mid-day trading on Friday, reaching $45.23. 346,578 shares of the company traded hands, compared to its average volume of 840,787. PTC Therapeutics has a 52 week low of $23.58 and a 52 week high of $54.16. The firm has a market cap of $3.49 billion, a PE ratio of -7.61 and a beta of 0.63. The company's 50 day moving average price is $44.26 and its 200-day moving average price is $37.80.

Insiders Place Their Bets

In other PTC Therapeutics news, VP Mark Elliott Boulding sold 85,600 shares of the business's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $52.26, for a total transaction of $4,473,456.00. Following the transaction, the vice president now owns 92,389 shares in the company, valued at $4,828,249.14. The trade was a 48.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Christine Marie Utter sold 17,800 shares of the firm's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $51.77, for a total transaction of $921,506.00. Following the completion of the sale, the chief accounting officer now owns 52,428 shares of the company's stock, valued at $2,714,197.56. This trade represents a 25.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 196,950 shares of company stock valued at $10,251,735 in the last three months. Corporate insiders own 5.50% of the company's stock.

Hedge Funds Weigh In On PTC Therapeutics

Several hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its position in PTC Therapeutics by 7.3% in 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 acquiring an additional 47,902 shares during the last quarter. Two Sigma Advisers LP lifted its position in shares of PTC Therapeutics by 10.3% during the third quarter. Two Sigma Advisers LP now owns 429,842 shares of the biopharmaceutical company's stock worth $15,947,000 after purchasing an additional 40,300 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of PTC Therapeutics during the third quarter valued at $698,000. Bank of New York Mellon Corp grew its holdings in shares of PTC Therapeutics by 17.1% in the second quarter. Bank of New York Mellon Corp now owns 279,049 shares of the biopharmaceutical company's stock worth $8,533,000 after purchasing an additional 40,840 shares during the last quarter. Finally, Quest Partners LLC grew its holdings in shares of PTC Therapeutics by 433.9% in the third quarter. Quest Partners LLC now owns 22,359 shares of the biopharmaceutical company's stock worth $830,000 after purchasing an additional 18,171 shares during 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.