PTC Therapeutics (NASDAQ:PTCT) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of PTC Therapeutics (NASDAQ:PTCT – Get Rating) in a research note issued to investors on Thursday morning. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

Several other analysts also recently issued reports on the company. Cantor Fitzgerald reduced their price objective on shares of PTC Therapeutics from $68.00 to $66.00 and set an overweight rating for the company in a research note on Wednesday, February 22nd. Raymond James cut their price target on shares of PTC Therapeutics from $60.00 to $55.00 and set an outperform rating on the stock in a report on Thursday, February 23rd. Credit Suisse Group reaffirmed a neutral rating and issued a $48.00 price objective on shares of PTC Therapeutics in a research note on Wednesday, February 22nd. Royal Bank of Canada boosted their target price on shares of PTC Therapeutics from $44.00 to $51.00 in a research note on Wednesday, February 22nd. Finally, The Goldman Sachs Group started coverage on PTC Therapeutics in a research report on Wednesday, December 14th. They issued a sell rating and a $35.00 target price for the company. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $52.00.

PTC Therapeutics Stock Down 1.7 %

NASDAQ PTCT opened at $47.30 on Thursday. PTC Therapeutics has a 1 year low of $25.01 and a 1 year high of $55.58. The business’s fifty day moving average is $46.03 and its two-hundred day moving average is $44.60.

PTC Therapeutics (NASDAQ:PTCT – Get Rating) last issued its earnings results on Tuesday, February 21st. The biopharmaceutical company reported ($2.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.96) by ($0.39). The company had revenue of $167.41 million during the quarter, compared to analyst estimates of $183.07 million. During the same quarter last year, the firm earned ($2.03) EPS. The firm’s revenue was up 1.3% on a year-over-year basis. On average, equities analysts anticipate that PTC Therapeutics will post -4.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Christine Marie Utter sold 706 shares of the stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $41.66, for a total transaction of $29,411.96. Following the transaction, the chief accounting officer now owns 39,290 shares of the company’s stock, valued at approximately $1,636,821.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other PTC Therapeutics news, CEO Stuart Walter Peltz sold 2,320 shares of the business’s stock in a transaction on Tuesday, January 31st. The shares were sold at an average price of $45.63, for a total transaction of $105,861.60. Following the completion of the transaction, the chief executive officer now owns 166,962 shares of the company’s stock, valued at approximately $7,618,476.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Christine Marie Utter sold 706 shares of the firm’s stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $41.66, for a total value of $29,411.96. Following the completion of the sale, the chief accounting officer now directly owns 39,290 shares in the company, valued at $1,636,821.40. The disclosure for this sale can be found here. Insiders sold 15,951 shares of company stock valued at $700,923 over the last quarter. Insiders own 6.00% of the company’s stock.

Hedge Funds Weigh In On PTC Therapeutics

Several large investors have recently made changes to their positions in the business. Raymond James & Associates grew its holdings in PTC Therapeutics by 17.5% in the 1st quarter. Raymond James & Associates now owns 8,341 shares of the biopharmaceutical company’s stock valued at $311,000 after buying an additional 1,243 shares during the last quarter. US Bancorp DE grew its stake in shares of PTC Therapeutics by 9.9% in the first quarter. US Bancorp DE now owns 9,257 shares of the biopharmaceutical company’s stock worth $345,000 after acquiring an additional 832 shares during the last quarter. MetLife Investment Management LLC increased its position in PTC Therapeutics by 53.8% during the first quarter. MetLife Investment Management LLC now owns 38,439 shares of the biopharmaceutical company’s stock worth $1,434,000 after acquiring an additional 13,448 shares during the period. Sei Investments Co. raised its stake in PTC Therapeutics by 2.1% during the 1st quarter. Sei Investments Co. now owns 44,938 shares of the biopharmaceutical company’s stock valued at $1,677,000 after purchasing an additional 931 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in PTC Therapeutics by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 6,933,076 shares of the biopharmaceutical company’s stock valued at $258,673,000 after purchasing an additional 44,167 shares during the period.

PTC Therapeutics Company Profile

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PTC Therapeutics, Inc is a biopharmaceutical company. It engages in discovery, development, and commercialization of clinically differentiated medicines that provide benefits to patients with rare disorders. The company was founded by Allan Steven Jacobson and Stuart Walter Peltz on March 31, 1998 and is headquartered in South Plainfield, NJ.