PTC Therapeutics (PTCT) Trading 12.9% Higher

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) traded up 12.9% during trading on Tuesday . The company traded as high as $20.65 and last traded at $20.24. 3,803,300 shares changed hands during mid-day trading, an increase of 186% from the average session volume of 1,331,400 shares. The stock had previously closed at $17.93.

A number of analysts have commented on the company. ValuEngine upgraded PTC Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Zacks Investment Research upgraded PTC Therapeutics from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Thursday, January 4th. JPMorgan Chase & Co. upped their price target on PTC Therapeutics to $15.00 and gave the stock a “neutral” rating in a research report on Friday, November 24th. Bank of America cut PTC Therapeutics from a “neutral” rating to an “underperform” rating in a research report on Thursday, October 26th. Finally, Cowen restated a “hold” rating on shares of PTC Therapeutics in a research report on Wednesday, October 25th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $19.14.

The firm has a market capitalization of $850.95, a P/E ratio of -7.10 and a beta of 1.23. The company has a quick ratio of 2.97, a current ratio of 3.08 and a debt-to-equity ratio of 0.98.

In other news, CEO Stuart Walter Peltz sold 2,230 shares of the company’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $18.03, for a total value of $40,206.90. Following the completion of the transaction, the chief executive officer now owns 26,646 shares of the company’s stock, valued at $480,427.38. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 2,719 shares of company stock valued at $48,848. Corporate insiders own 8.10% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northern Trust Corp boosted its stake in shares of PTC Therapeutics by 8.5% in the second quarter. Northern Trust Corp now owns 615,096 shares of the biopharmaceutical company’s stock worth $11,275,000 after acquiring an additional 48,308 shares during the period. New York State Common Retirement Fund boosted its stake in PTC Therapeutics by 56.3% during the second quarter. New York State Common Retirement Fund now owns 50,650 shares of the biopharmaceutical company’s stock valued at $928,000 after buying an additional 18,249 shares during the last quarter. Vanguard Group Inc. boosted its stake in PTC Therapeutics by 17.2% during the second quarter. Vanguard Group Inc. now owns 2,366,564 shares of the biopharmaceutical company’s stock valued at $43,379,000 after buying an additional 346,525 shares during the last quarter. Nomura Holdings Inc. boosted its stake in PTC Therapeutics by 28.7% during the second quarter. Nomura Holdings Inc. now owns 50,672 shares of the biopharmaceutical company’s stock valued at $928,000 after buying an additional 11,300 shares during the last quarter. Finally, Swiss National Bank boosted its stake in PTC Therapeutics by 15.9% during the third quarter. Swiss National Bank now owns 65,565 shares of the biopharmaceutical company’s stock valued at $1,312,000 after buying an additional 9,000 shares during the last quarter. 86.12% of the stock is owned by hedge funds and other institutional investors.

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PTC Therapeutics Company Profile

PTC Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the discovery, development and commercialization of medicines using its expertise in ribonucleic acid (RNA) biology. Its product pipeline includes Ataluren (Translarna), PTC596 and RG7916. Its product candidate, ataluren, is an orally administered small-molecule compound for the treatment of patients with genetic disorders due to a nonsense mutation.

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