PTC Therapeutics (NASDAQ:PTCT) Trading 6.1% Higher

PTC Therapeutics, Inc. (NASDAQ:PTCT)’s stock price traded up 6.1% during trading on Monday . The stock traded as high as $30.49 and last traded at $30.30. 137,088 shares were traded during mid-day trading, a decline of 86% from the average session volume of 960,482 shares. The stock had previously closed at $28.57.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price objective on shares of PTC Therapeutics in a research note on Friday, April 12th. Morgan Stanley upgraded shares of PTC Therapeutics from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $28.00 to $30.00 in a research report on Monday. Royal Bank of Canada increased their price target on PTC Therapeutics from $22.00 to $28.00 and gave the company a “sector perform” rating in a research note on Friday, March 1st. TD Cowen reduced their price objective on PTC Therapeutics from $32.00 to $30.00 and set a “market perform” rating on the stock in a research report on Friday, March 1st. Finally, Jefferies Financial Group increased their target price on PTC Therapeutics from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $33.67.

PTC Therapeutics Price Performance

The company’s 50-day moving average price is $28.15 and its two-hundred day moving average price is $25.83. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of -4.01 and a beta of 0.67.

PTC Therapeutics (NASDAQ:PTCT) last issued its earnings results 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 the consensus estimate of $160.27 million. On average, equities research analysts expect that PTC Therapeutics, Inc. will post -5.87 EPS for the current fiscal year.

Insider Activity at PTC Therapeutics

In related news, CEO Matthew B. Klein sold 3,361 shares of the firm’s stock in a transaction dated Friday, April 19th. The shares were 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 owns 225,807 shares in the company, valued at $5,620,336.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 6,404 shares of company stock valued at $165,506 over the last ninety days. Corporate insiders own 5.30% of the company’s stock.

Institutional Trading of PTC Therapeutics

Large investors have recently added to or reduced their stakes in the stock. Hexagon Capital Partners LLC increased its holdings in 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 buying an additional 557 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in shares of PTC Therapeutics by 99.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,941 shares of the biopharmaceutical company’s stock worth $43,000 after purchasing an additional 969 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of PTC Therapeutics in the first quarter worth about $46,000. Nisa Investment Advisors LLC increased its stake in shares of PTC Therapeutics by 317.0% in the third quarter. Nisa Investment Advisors LLC now owns 2,656 shares of the biopharmaceutical company’s stock worth $60,000 after purchasing an additional 2,019 shares in the last quarter. Finally, Headlands Technologies LLC increased its stake in shares of PTC Therapeutics by 248.0% in the fourth quarter. Headlands Technologies LLC now owns 4,684 shares of the biopharmaceutical company’s stock worth $129,000 after purchasing an additional 3,338 shares in 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.