Cantor Fitzgerald Issues Pessimistic Forecast for PTC Therapeutics (NASDAQ:PTCT) Stock Price

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) had its target price reduced by equities research analysts at Cantor Fitzgerald from $80.00 to $76.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the biopharmaceutical company's stock. Cantor Fitzgerald's target price suggests a potential upside of 79.80% from the stock's current price.

A number of other equities analysts also recently commented on the company. Robert W. Baird lifted their price objective on PTC Therapeutics from $52.00 to $70.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 3rd. Barclays lifted their price target on PTC Therapeutics from $45.00 to $56.00 and gave the stock an "equal weight" rating in a report on Tuesday, December 3rd. The Goldman Sachs Group upped their price objective on shares of PTC Therapeutics from $32.00 to $42.00 and gave the company a "sell" rating in a report on Wednesday, December 4th. Raymond James initiated coverage on shares of PTC Therapeutics in a research note on Thursday, October 10th. They set a "market perform" rating on the stock. Finally, UBS Group increased their price target on shares of PTC Therapeutics from $47.00 to $71.00 and gave the company a "buy" rating in a research note on Tuesday, December 3rd. Three analysts have rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $55.00.

PTC Therapeutics Trading Up 1.1 %

PTCT stock traded up $0.46 during mid-day trading on Wednesday, reaching $42.27. The company's stock had a trading volume of 530,931 shares, compared to its average volume of 590,081. The company's 50 day moving average is $45.26 and its two-hundred day moving average is $38.66. PTC Therapeutics has a fifty-two week low of $23.58 and a fifty-two week high of $54.16. The stock has a market cap of $3.26 billion, a PE ratio of -7.12 and a beta of 0.62.

Insider Transactions at PTC Therapeutics

In other news, EVP Lee Scott Golden sold 810 shares of PTC Therapeutics stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $45.34, for a total transaction of $36,725.40. Following the sale, the executive vice president now owns 79,849 shares in the company, valued at approximately $3,620,353.66. The trade was a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Neil Gregory Almstead sold 1,265 shares of the company's stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $45.34, for a total value of $57,355.10. Following the completion of the sale, the insider now directly owns 104,783 shares of the company's stock, valued at approximately $4,750,861.22. This trade represents a 1.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 211,737 shares of company stock worth $10,920,687. 5.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PTC Therapeutics

Institutional investors have recently modified their holdings of the business. Rhumbline Advisers grew its position in PTC Therapeutics by 6.7% during the 2nd quarter. Rhumbline Advisers now owns 116,396 shares of the biopharmaceutical company's stock worth $3,559,000 after purchasing an additional 7,314 shares during the last quarter. Choreo LLC boosted its stake in shares of PTC Therapeutics by 4.1% during the second quarter. Choreo LLC now owns 11,426 shares of the biopharmaceutical company's stock worth $356,000 after buying an additional 452 shares during the period. American Century Companies Inc. boosted its stake in shares of PTC Therapeutics by 108.7% during the second quarter. American Century Companies Inc. now owns 37,394 shares of the biopharmaceutical company's stock worth $1,144,000 after buying an additional 19,475 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in shares of PTC Therapeutics by 20.9% during the second quarter. DekaBank Deutsche Girozentrale now owns 29,016 shares of the biopharmaceutical company's stock worth $887,000 after buying an additional 5,016 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in PTC Therapeutics by 7.4% in the 2nd quarter. Renaissance Technologies LLC now owns 818,100 shares of the biopharmaceutical company's stock valued at $25,017,000 after acquiring an additional 56,700 shares during the period.

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.