PTC Therapeutics (NASDAQ:PTCT) Trading Up 6.8% - What's Next?

PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) shares traded up 6.8% during mid-day trading on Tuesday . The stock traded as high as $48.58 and last traded at $48.15. 437,119 shares traded hands during trading, a decline of 46% from the average session volume of 816,804 shares. The stock had previously closed at $45.08.

Analysts Set New Price Targets

A number of brokerages have recently commented on PTCT. StockNews.com downgraded shares of PTC Therapeutics from a "buy" rating to a "hold" rating in a research note on Monday, February 17th. Cantor Fitzgerald raised their price objective on PTC Therapeutics from $76.00 to $113.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Royal Bank of Canada upped their target price on PTC Therapeutics from $60.00 to $63.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. Bank of America upgraded PTC Therapeutics from an "underperform" rating to a "neutral" rating and raised their target price for the company from $41.00 to $55.00 in a report on Tuesday, March 11th. Finally, Scotiabank started coverage on PTC Therapeutics in a research report on Friday, March 7th. They set a "sector perform" rating and a $55.00 price target on the stock. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $63.77.

PTC Therapeutics Stock Performance

The company has a market cap of $3.74 billion, a P/E ratio of -7.98 and a beta of 0.58. The business has a fifty day simple moving average of $50.20 and a 200 day simple moving average of $46.15.

Insider Buying and Selling

In other PTC Therapeutics news, CAO Christine Marie Utter sold 879 shares of PTC Therapeutics stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $50.10, for a total value of $44,037.90. Following the completion of the transaction, the chief accounting officer now directly owns 63,442 shares in the company, valued at $3,178,444.20. The trade was a 1.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Eric Pauwels sold 1,378 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $50.10, for a total value of $69,037.80. Following the sale, the chief executive officer now owns 85,427 shares in the company, valued at $4,279,892.70. The trade was a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,501 shares of company stock worth $1,546,088 over the last ninety days. 5.50% of the stock is owned by insiders.

Institutional Trading of PTC Therapeutics

Large investors have recently modified their holdings of the company. Vontobel Holding Ltd. bought a new stake in shares of PTC Therapeutics during the fourth quarter valued at approximately $521,000. Raymond James Financial Inc. bought a new stake in shares of PTC Therapeutics during the fourth quarter valued at about $2,200,000. Natixis Advisors LLC acquired a new stake in PTC Therapeutics in the fourth quarter worth about $544,000. Proficio Capital Partners LLC bought a new position in PTC Therapeutics in the 4th quarter valued at about $758,000. Finally, American Century Companies Inc. raised its position in shares of PTC Therapeutics by 66.8% during the 4th quarter. American Century Companies Inc. now owns 60,150 shares of the biopharmaceutical company's stock worth $2,715,000 after buying an additional 24,090 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.