PTC Therapeutics (NASDAQ:PTCT) Downgraded by StockNews.com to Hold

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) was downgraded by investment analysts at StockNews.com from a "buy" rating to a "hold" rating in a research report issued on Monday.

PTCT has been the topic of several other reports. Cantor Fitzgerald increased their target price on PTC Therapeutics from $76.00 to $113.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Royal Bank of Canada raised PTC Therapeutics from a "sector perform" rating to an "outperform" rating and lifted their target price for the stock from $39.00 to $63.00 in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. lifted their price target on PTC Therapeutics from $51.00 to $62.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 19th. The Goldman Sachs Group lifted their target price on PTC Therapeutics from $32.00 to $42.00 and gave the company a "sell" rating in a research note on Wednesday, December 4th. Finally, Morgan Stanley upgraded PTC Therapeutics from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $45.00 to $67.00 in a research note on Friday, December 13th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, PTC Therapeutics currently has an average rating of "Hold" and an average price target of $58.85.

PTC Therapeutics Stock Performance

Shares of PTCT traded up $0.31 during trading hours on Monday, hitting $50.69. The stock had a trading volume of 422,380 shares, compared to its average volume of 680,946. The firm has a market cap of $3.91 billion, a P/E ratio of -8.53 and a beta of 0.62. The company's fifty day simple moving average is $46.58 and its 200 day simple moving average is $41.35. PTC Therapeutics has a 12-month low of $24.00 and a 12-month high of $54.16.

Insider Buying and Selling at PTC Therapeutics

In other PTC Therapeutics news, CAO Christine Marie Utter sold 1,291 shares of PTC Therapeutics stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $45.34, for a total transaction of $58,533.94. Following the transaction, the chief accounting officer now directly owns 65,983 shares in the company, valued at approximately $2,991,669.22. The trade was a 1.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Eric Pauwels sold 1,599 shares of PTC Therapeutics stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $45.34, for a total transaction of $72,498.66. Following the transaction, the chief executive officer now owns 88,941 shares in the company, valued at approximately $4,032,584.94. The trade was a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 211,737 shares of company stock valued at $10,920,687. Corporate insiders own 5.50% of the company's stock.

Hedge Funds Weigh In On PTC Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of PTCT. Smartleaf Asset Management LLC grew its holdings in shares of 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 in the last quarter. Sterling Capital Management LLC grew its holdings in shares of PTC Therapeutics by 424.4% during the 4th quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company's stock valued at $29,000 after acquiring an additional 522 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in shares of PTC Therapeutics during the 4th quarter valued at $68,000. GF Fund Management CO. LTD. purchased a new position in shares of PTC Therapeutics during the 4th quarter valued at $73,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of PTC Therapeutics during the 4th quarter valued at $77,000.

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.