PTC Therapeutics (NASDAQ:PTCT) Earns Sector Perform Rating from Analysts at Scotiabank

Analysts at Scotiabank started coverage on shares of PTC Therapeutics (NASDAQ:PTCT - Get Free Report) in a research report issued on Friday, Marketbeat Ratings reports. The firm set a "sector perform" rating and a $55.00 price target on the biopharmaceutical company's stock. Scotiabank's price objective would suggest a potential upside of 4.58% from the company's previous close.

Several other brokerages have also weighed in on PTCT. UBS Group raised their target price on PTC Therapeutics from $47.00 to $71.00 and gave the stock a "buy" rating in a research report on Tuesday, December 3rd. Citigroup raised their target price on PTC Therapeutics from $32.00 to $45.00 and gave the stock a "sell" rating in a research report on Wednesday, February 12th. The Goldman Sachs Group raised their price target on PTC Therapeutics from $32.00 to $42.00 and gave the stock a "sell" rating in a research note on Wednesday, December 4th. Morgan Stanley upgraded PTC Therapeutics from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $45.00 to $67.00 in a research note on Friday, December 13th. Finally, Cantor Fitzgerald raised their price target on PTC Therapeutics from $76.00 to $113.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $61.77.

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PTC Therapeutics Price Performance

Shares of NASDAQ PTCT traded down $0.21 during midday trading on Friday, hitting $52.59. 1,213,971 shares of the company's stock were exchanged, compared to its average volume of 741,937. PTC Therapeutics has a twelve month low of $24.00 and a twelve month high of $55.60. The company has a market cap of $4.06 billion, a PE ratio of -8.85 and a beta of 0.62. The firm's fifty day simple moving average is $47.85 and its 200-day simple moving average is $42.85.

Insider Buying and Selling at PTC Therapeutics

In other PTC Therapeutics news, CEO Matthew B. Klein sold 8,279 shares of PTC Therapeutics stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $45.16, for a total value of $373,879.64. Following the transaction, the chief executive officer now directly owns 217,528 shares in the company, valued at approximately $9,823,564.48. This trade represents a 3.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Lee Scott Golden sold 795 shares of PTC Therapeutics stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total value of $39,829.50. Following the completion of the transaction, the executive vice president now owns 77,856 shares in the company, valued at $3,900,585.60. This trade represents a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,870 shares of company stock worth $1,075,657. 5.50% of the stock is currently owned by insiders.

Institutional Trading of PTC Therapeutics

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of PTC Therapeutics by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 9,178,822 shares of the biopharmaceutical company's stock valued at $414,332,000 after buying an additional 53,688 shares in the last quarter. Toronto Dominion Bank purchased a new stake in shares of PTC Therapeutics in the fourth quarter valued at approximately $148,363,000. State Street Corp boosted its stake in shares of 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 buying an additional 149,700 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of PTC Therapeutics by 24.4% in the fourth quarter. Janus Henderson Group PLC now owns 2,325,915 shares of the biopharmaceutical company's stock valued at $105,015,000 after buying an additional 455,698 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of PTC Therapeutics by 0.6% in the third 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 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.