Analysts Set PTC Therapeutics, Inc. (NASDAQ:PTCT) Price Target at $33.53

PTC Therapeutics, Inc. (NASDAQ:PTCT) has received a consensus recommendation of “Reduce” from the thirteen brokerages that are presently covering the firm, MarketBeat reports. Five analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $33.53.

A number of brokerages have recently issued reports on PTCT. Jefferies Financial Group raised their price target on shares of PTC Therapeutics from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. TD Cowen cut their price target on shares of PTC Therapeutics from $32.00 to $30.00 and set a “market perform” rating for the company in a report on Friday, March 1st. Royal Bank of Canada raised their price target on shares of PTC Therapeutics from $22.00 to $28.00 and gave the stock a “sector perform” rating in a report on Friday, March 1st. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price target on shares of PTC Therapeutics in a report on Friday, April 12th.

PTC Therapeutics Trading Up 12.1 %

PTCT stock opened at $28.57 on Tuesday. The company has a market cap of $2.19 billion, a price-to-earnings ratio of -3.72 and a beta of 0.67. PTC Therapeutics has a 12 month low of $17.53 and a 12 month high of $59.84. The firm has a 50-day moving average of $28.15 and a two-hundred day moving average of $25.81.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.20) EPS for the quarter, beating analysts’ consensus estimates of ($1.21) by $0.01. The business had revenue of $210.12 million during the quarter, compared to analyst estimates of $160.27 million. As a group, equities analysts forecast that PTC Therapeutics will post -5.87 earnings per share for the current year.

Insider Buying and Selling

In other PTC Therapeutics news, CEO Matthew B. Klein sold 3,361 shares of the firm’s stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $24.89, for a total value of $83,655.29. Following the completion of the transaction, the chief executive officer now owns 225,807 shares of the company’s stock, valued at approximately $5,620,336.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders sold 6,404 shares of company stock valued at $165,506. Company insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On PTC Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PTCT. Hexagon Capital Partners LLC lifted its position in shares of PTC Therapeutics by 132.0% during the 4th quarter. Hexagon Capital Partners LLC now owns 979 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 557 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of PTC Therapeutics by 12.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,075 shares of the biopharmaceutical company’s stock worth $114,000 after purchasing an additional 559 shares during the last quarter. Knights of Columbus Asset Advisors LLC lifted its position in shares of PTC Therapeutics by 2.4% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 29,115 shares of the biopharmaceutical company’s stock worth $652,000 after purchasing an additional 692 shares during the last quarter. Diversified Trust Co lifted its position in shares of PTC Therapeutics by 6.7% during the 4th quarter. Diversified Trust Co now owns 14,204 shares of the biopharmaceutical company’s stock worth $391,000 after purchasing an additional 896 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its position in shares of PTC Therapeutics by 5.1% during the 3rd quarter. Teacher Retirement System of Texas now owns 18,941 shares of the biopharmaceutical company’s stock worth $424,000 after purchasing an additional 922 shares during 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.