PTC Therapeutics (NASDAQ:PTCT) Given Overweight Rating at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of PTC Therapeutics (NASDAQ:PTCT) in a research note published on Tuesday, Benzinga reports. The brokerage currently has a $62.00 price objective on the biopharmaceutical company’s stock.

Several other analysts also recently issued reports on PTCT. JPMorgan Chase & Co. reaffirmed an overweight rating and set a $53.00 price objective on shares of PTC Therapeutics in a report on Thursday, June 20th. Raymond James upgraded shares of PTC Therapeutics from an underperform rating to a market perform rating in a research note on Monday, May 20th. Jefferies Financial Group upped their target price on shares of PTC Therapeutics from $35.00 to $46.00 and gave the company a buy rating in a research note on Monday, May 20th. The Goldman Sachs Group upped their target price on shares of PTC Therapeutics from $18.00 to $32.00 and gave the company a sell rating in a research note on Tuesday, May 28th. Finally, Bank of America upped their target price on shares of PTC Therapeutics from $25.00 to $32.00 and gave the company an underperform rating in a research note on Friday, June 21st. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Hold and an average target price of $37.53.

PTC Therapeutics Stock Down 0.5 %

NASDAQ PTCT opened at $32.63 on Tuesday. The company has a fifty day simple moving average of $34.78 and a 200 day simple moving average of $30.43. PTC Therapeutics has a 1 year low of $17.53 and a 1 year high of $42.14.

PTC Therapeutics (NASDAQ:PTCT) last posted 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 firm had revenue of $210.12 million for the quarter, compared to the consensus estimate of $160.27 million. On average, sell-side analysts expect that PTC Therapeutics will post -4.87 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Pierre Gravier sold 2,269 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $34.02, for a total value of $77,191.38. Following the completion of the transaction, the chief financial officer now owns 53,531 shares in the company, valued at approximately $1,821,124.62. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Pierre Gravier sold 2,269 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $34.02, for a total value of $77,191.38. Following the sale, the chief financial officer now owns 53,531 shares of the company’s stock, valued at approximately $1,821,124.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jerome B. Zeldis sold 20,000 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $38.24, for a total transaction of $764,800.00. Following the completion of the sale, the director now directly owns 14,500 shares in the company, valued at approximately $554,480. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,444 shares of company stock worth $847,735. 5.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PTC Therapeutics

Several large investors have recently made changes to their positions in PTCT. Walleye Capital LLC grew its holdings in shares of PTC Therapeutics by 958.6% in the 3rd quarter. Walleye Capital LLC now owns 72,030 shares of the biopharmaceutical company’s stock worth $1,614,000 after purchasing an additional 65,226 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of PTC Therapeutics by 5.2% in the 3rd quarter. Vanguard Group Inc. now owns 7,945,489 shares of the biopharmaceutical company’s stock worth $178,058,000 after purchasing an additional 393,012 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in PTC Therapeutics by 22.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 28,346 shares of the biopharmaceutical company’s stock worth $635,000 after acquiring an additional 5,200 shares during the last quarter. Diversified Trust Co grew its holdings in 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 acquiring an additional 896 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in PTC Therapeutics by 366.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 242,661 shares of the biopharmaceutical company’s stock worth $6,688,000 after acquiring an additional 190,628 shares during the last quarter.

PTC Therapeutics Company Profile

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.