PTC Therapeutics (NASDAQ:PTCT) Upgraded at StockNews.com

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued on Friday.

A number of other equities analysts have also recently issued reports on PTCT. UBS Group increased their price objective on shares of PTC Therapeutics from $47.00 to $71.00 and gave the stock a "buy" rating in a research report on Tuesday, December 3rd. Raymond James began coverage on shares of PTC Therapeutics in a research note on Thursday, October 10th. They set a "market perform" rating for the company. Cantor Fitzgerald raised their price target on shares of PTC Therapeutics from $76.00 to $113.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Robert W. Baird lifted their price objective on shares of PTC Therapeutics from $52.00 to $70.00 and gave the stock an "outperform" rating in a report on Tuesday, December 3rd. Finally, Wells Fargo & Company lifted their target price on shares of PTC Therapeutics from $56.00 to $68.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 26th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $57.85.

PTC Therapeutics Price Performance

NASDAQ PTCT traded down $1.92 on Friday, reaching $47.90. The company had a trading volume of 467,832 shares, compared to its average volume of 700,027. The firm has a market cap of $3.69 billion, a price-to-earnings ratio of -8.06 and a beta of 0.62. PTC Therapeutics has a fifty-two week low of $23.58 and a fifty-two week high of $54.16. The business has a 50 day moving average of $46.44 and a two-hundred day moving average of $40.39.

Insider Buying and Selling at PTC Therapeutics

In other news, insider Neil Gregory Almstead sold 69,550 shares of PTC Therapeutics stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $52.06, for a total value of $3,620,773.00. Following the transaction, the insider now owns 86,202 shares of the company's stock, valued at $4,487,676.12. The trade was a 44.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Mark Elliott Boulding sold 85,600 shares of PTC Therapeutics stock in a transaction that occurred on Monday, December 2nd. The stock was 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 in the company, valued at approximately $4,828,249.14. The trade was a 48.09 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 211,737 shares of company stock valued at $10,920,687. Company insiders own 5.50% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Smartleaf Asset Management LLC lifted its stake in PTC Therapeutics by 78.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company's stock valued at $28,000 after acquiring an additional 270 shares during the period. Venturi Wealth Management LLC purchased a new stake in PTC Therapeutics in the 4th quarter worth $68,000. R Squared Ltd purchased a new stake in PTC Therapeutics in the 4th quarter worth $79,000. KBC Group NV increased its holdings in PTC Therapeutics by 29.2% in the 3rd quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company's stock worth $83,000 after acquiring an additional 504 shares in the last quarter. Finally, CWM LLC increased its holdings in PTC Therapeutics by 354.7% in the 3rd quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company's stock worth $100,000 after acquiring an additional 2,096 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.