PTC Therapeutics (NASDAQ:PTCT) Price Target Cut to $72.00 by Analysts at JPMorgan Chase & Co.

PTC Therapeutics (NASDAQ:PTCT) had its target price cut by JPMorgan Chase & Co. from $74.00 to $72.00 in a report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 31.07% from the stock’s current price.

PTCT has been the subject of a number of other research reports. Wells Fargo & Company increased their price target on PTC Therapeutics from $56.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. The Goldman Sachs Group upped their price target on PTC Therapeutics from $32.00 to $42.00 and gave the stock a “sell” rating in a research note on Wednesday, December 4th. Cantor Fitzgerald upped their price target on shares of PTC Therapeutics from $76.00 to $113.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. UBS Group upped their price objective on shares of PTC Therapeutics from $47.00 to $71.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Finally, Morgan Stanley upgraded shares of 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 report on Friday, December 13th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, PTC Therapeutics presently has a consensus rating of “Hold” and an average target price of $59.62.

PTC Therapeutics Stock Performance

Shares of NASDAQ PTCT traded up $4.36 during trading on Friday, reaching $54.93. The stock had a trading volume of 744,840 shares, compared to its average volume of 682,606. The stock has a market cap of $4.24 billion, a PE ratio of -9.22 and a beta of 0.62. PTC Therapeutics has a one year low of $24.00 and a one year high of $55.30. The firm’s 50 day moving average price is $46.98 and its two-hundred day moving average price is $42.01.

Insider Buying and Selling at PTC Therapeutics

In other PTC Therapeutics news, CFO Pierre Gravier sold 1,168 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total transaction of $58,516.80. Following the completion of the sale, the chief financial officer now owns 75,603 shares of the company’s stock, valued at $3,787,710.30. This represents a 1.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Christine Marie Utter sold 17,800 shares of PTC Therapeutics stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $51.77, for a total transaction of $921,506.00. Following the sale, the chief accounting officer now directly owns 52,428 shares in the company, valued at $2,714,197.56. The trade was a 25.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 218,590 shares of company stock worth $11,264,023 in the last quarter. 5.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PTCT. Creative Planning lifted its position in PTC Therapeutics by 8.1% during the third quarter. Creative Planning now owns 10,944 shares of the biopharmaceutical company’s stock valued at $406,000 after purchasing an additional 816 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of PTC Therapeutics by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock worth $104,000 after purchasing an additional 492 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in shares of PTC Therapeutics by 14.0% during the third quarter. Harbor Capital Advisors Inc. now owns 54,014 shares of the biopharmaceutical company’s stock worth $2,004,000 after acquiring an additional 6,634 shares during the period. State of New Jersey Common Pension Fund D grew its position in shares of PTC Therapeutics by 7.0% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 56,820 shares of the biopharmaceutical company’s stock worth $2,108,000 after buying an additional 3,727 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its position in PTC Therapeutics by 40.0% during the 3rd quarter. Los Angeles Capital Management LLC now owns 15,130 shares of the biopharmaceutical company’s stock valued at $561,000 after purchasing an additional 4,325 shares during the period.

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.