PTC Therapeutics, Inc. (NASDAQ:PTCT) Given Consensus Recommendation of "Hold" by Brokerages

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) have received an average rating of "Hold" from the fifteen analysts that are currently covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $58.85.

PTCT has been the topic of several research analyst reports. Robert W. Baird boosted their price objective on PTC Therapeutics from $52.00 to $70.00 and gave the company an "outperform" rating in a report on Tuesday, December 3rd. The Goldman Sachs Group increased their price target on shares of PTC Therapeutics from $32.00 to $42.00 and gave the stock a "sell" rating in a research report on Wednesday, December 4th. Royal Bank of Canada lifted their price objective on shares of PTC Therapeutics from $60.00 to $63.00 and gave the company an "outperform" rating in a report on Tuesday. JPMorgan Chase & Co. boosted their target price on PTC Therapeutics from $51.00 to $62.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 19th. Finally, StockNews.com lowered PTC Therapeutics from a "buy" rating to a "hold" rating in a report on Monday.

Insider Activity at PTC Therapeutics

In other news, CAO Christine Marie Utter sold 17,800 shares of the business's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $51.77, for a total value of $921,506.00. Following the completion of the transaction, the chief accounting officer now directly owns 52,428 shares of the company's stock, valued at $2,714,197.56. The trade was a 25.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Mark Elliott Boulding sold 85,600 shares of the business's stock in a transaction dated 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 completion of the transaction, the vice president now directly owns 92,389 shares of the company's stock, valued at $4,828,249.14. The trade was a 48.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 211,737 shares of company stock valued at $10,920,687 in the last ninety days. Corporate insiders own 5.50% of the company's stock.

Institutional Investors Weigh In On PTC Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of PTCT. Vanguard Group Inc. boosted its position in PTC Therapeutics by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 9,178,822 shares of the biopharmaceutical company's stock worth $414,332,000 after acquiring an additional 53,688 shares during the last quarter. Toronto Dominion Bank purchased a new stake in shares of PTC Therapeutics in the fourth quarter valued at $148,363,000. State Street Corp increased its stake in PTC Therapeutics by 5.4% in the third quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company's stock valued at $107,554,000 after purchasing an additional 149,700 shares during the last quarter. Janus Henderson Group PLC lifted its position in PTC Therapeutics by 24.4% during the fourth quarter. Janus Henderson Group PLC now owns 2,325,915 shares of the biopharmaceutical company's stock worth $105,015,000 after buying an additional 455,698 shares during the period. Finally, Geode Capital Management LLC grew its holdings in PTC Therapeutics by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,798,666 shares of the biopharmaceutical company's stock valued at $66,743,000 after buying an additional 10,886 shares during the period.

PTC Therapeutics Stock Down 0.1 %

PTCT stock traded down $0.05 during mid-day trading on Monday, hitting $50.38. 497,130 shares of the company were exchanged, compared to its average volume of 694,645. The business has a fifty day simple moving average of $46.52 and a 200-day simple moving average of $41.29. The firm has a market capitalization of $3.89 billion, a P/E ratio of -8.48 and a beta of 0.62. PTC Therapeutics has a 12-month low of $24.00 and a 12-month high of $54.16.

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.