PTC Therapeutics (NASDAQ:PTCT) Earns Overweight Rating from JPMorgan Chase & Co.

PTC Therapeutics (NASDAQ:PTCTGet Free Report)‘s stock had its “overweight” rating reaffirmed by JPMorgan Chase & Co. in a research note issued to investors on Thursday, Benzinga reports. They presently have a $53.00 price target on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 60.80% from the stock’s current price.

A number of other brokerages have also commented on PTCT. Raymond James upgraded PTC Therapeutics from an “underperform” rating to a “market perform” rating in a research report on Monday, May 20th. Morgan Stanley upgraded PTC Therapeutics from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $28.00 to $30.00 in a report on Monday, April 29th. Jefferies Financial Group raised their target price on PTC Therapeutics from $35.00 to $46.00 and gave the stock a “buy” rating in a report on Monday, May 20th. TD Cowen reduced their target price on PTC Therapeutics from $32.00 to $30.00 and set a “market perform” rating on the stock in a report on Friday, March 1st. Finally, Royal Bank of Canada lifted their price objective on PTC Therapeutics from $22.00 to $28.00 and gave the company a “sector perform” rating in a report on Friday, March 1st. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $35.67.

Read Our Latest Stock Report on PTC Therapeutics

PTC Therapeutics Stock Down 7.5 %

PTC Therapeutics stock traded down $2.66 during mid-day trading on Thursday, hitting $32.96. 1,245,578 shares of the company were exchanged, compared to its average volume of 948,728. The business has a fifty day moving average of $33.01 and a 200 day moving average of $29.62. PTC Therapeutics has a 1-year low of $17.53 and a 1-year high of $44.66. The company has a market capitalization of $2.53 billion, a PE ratio of -4.29 and a beta of 0.70.

PTC Therapeutics (NASDAQ:PTCTGet Free Report) last released its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.21) by $0.01. The company had revenue of $210.12 million for the quarter, compared to analyst estimates of $160.27 million. Research analysts expect that PTC Therapeutics will post -4.84 earnings per share for the current year.

Insider Activity at PTC Therapeutics

In related news, CEO Matthew B. Klein sold 3,361 shares of the business’s stock in a transaction on Friday, April 19th. The stock was sold at an average price of $24.89, for a total value of $83,655.29. Following the completion of the sale, the chief executive officer now directly owns 225,807 shares in the company, valued at approximately $5,620,336.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Matthew B. Klein sold 3,361 shares of the company’s stock in a transaction on Friday, April 19th. The stock was sold at an average price of $24.89, for a total transaction of $83,655.29. Following the completion of the sale, the chief executive officer now directly owns 225,807 shares in the company, valued at approximately $5,620,336.23. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jerome B. Zeldis sold 20,000 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $38.24, for a total value of $764,800.00. Following the sale, the director now owns 14,500 shares of the company’s stock, valued at $554,480. The disclosure for this sale can be found here. Insiders sold 24,849 shares of company stock worth $888,907 in the last ninety days. 5.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On PTC Therapeutics

Hedge funds have recently made changes to their positions in the stock. Hexagon Capital Partners LLC raised its position in shares of PTC Therapeutics by 132.0% during the fourth quarter. Hexagon Capital Partners LLC now owns 979 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 557 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of PTC Therapeutics during the first quarter worth about $46,000. Headlands Technologies LLC raised its position in shares of PTC Therapeutics by 248.0% during the fourth quarter. Headlands Technologies LLC now owns 4,684 shares of the biopharmaceutical company’s stock worth $129,000 after acquiring an additional 3,338 shares during the last quarter. Lazard Asset Management LLC increased its holdings in PTC Therapeutics by 268.9% in the first quarter. Lazard Asset Management LLC now owns 6,504 shares of the biopharmaceutical company’s stock worth $188,000 after purchasing an additional 4,741 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its holdings in PTC Therapeutics by 349.6% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,727 shares of the biopharmaceutical company’s stock worth $241,000 after purchasing an additional 6,786 shares in the last quarter.

PTC Therapeutics Company Profile

(Get Free Report)

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.

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Analyst Recommendations for PTC Therapeutics (NASDAQ:PTCT)

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