PTC Therapeutics (NASDAQ:PTCT) Price Target Lowered to $67.00 at JPMorgan Chase & Co.

PTC Therapeutics (NASDAQ:PTCT) had its target price reduced by JPMorgan Chase & Co. from $75.00 to $67.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the biopharmaceutical company’s stock.

A number of other equities research analysts have also recently commented on PTCT. StockNews.com cut PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Bank of America raised shares of PTC Therapeutics from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $41.00 to $55.00 in a research report on Tuesday, March 11th. Royal Bank of Canada reissued an “outperform” rating and set a $65.00 target price on shares of PTC Therapeutics in a research report on Tuesday, April 22nd. Scotiabank started coverage on shares of PTC Therapeutics in a report on Friday, March 7th. They issued a “sector perform” rating and a $55.00 price target on the stock. Finally, Cantor Fitzgerald increased their price objective on PTC Therapeutics from $76.00 to $113.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, six have given 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

PTC Therapeutics Price Performance

PTCT opened at $40.74 on Wednesday. PTC Therapeutics has a fifty-two week low of $28.72 and a fifty-two week high of $58.38. The firm has a market capitalization of $3.23 billion, a P/E ratio of -6.86 and a beta of 0.52. The company’s 50-day moving average is $49.22 and its 200 day moving average is $46.93.

PTC Therapeutics (NASDAQ:PTCT) last posted its earnings results on Tuesday, May 6th. The biopharmaceutical company reported $10.04 EPS for the quarter, topping the consensus estimate of $0.85 by $9.19. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $437.16 million. PTC Therapeutics’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.20) EPS. On average, equities research analysts expect that PTC Therapeutics will post -4.52 earnings per share for the current year.

Insider Buying and Selling at PTC Therapeutics

In other PTC Therapeutics news, VP Mark Elliott Boulding sold 1,333 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total value of $66,783.30. Following the completion of the transaction, the vice president now directly owns 105,515 shares of the company’s stock, valued at $5,286,301.50. This trade represents a 1.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Stephanie Okey sold 5,000 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $54.00, for a total transaction of $270,000.00. Following the completion of the transaction, the director now directly owns 8,867 shares in the company, valued at approximately $478,818. The trade was a 36.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,305 shares of company stock valued at $1,682,755 in the last quarter. 5.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PTC Therapeutics

Several large investors have recently added to or reduced their stakes in PTCT. Smartleaf Asset Management LLC raised its holdings in shares of PTC Therapeutics by 78.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 270 shares in the last quarter. Sterling Capital Management LLC increased its position in shares of PTC Therapeutics by 424.4% in the fourth quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 522 shares during the last quarter. GAMMA Investing LLC raised its stake in PTC Therapeutics by 86.3% in the first quarter. GAMMA Investing LLC now owns 952 shares of the biopharmaceutical company’s stock valued at $49,000 after purchasing an additional 441 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in PTC Therapeutics during the fourth quarter valued at approximately $68,000. Finally, GF Fund Management CO. LTD. purchased a new position in PTC Therapeutics in the 4th quarter worth approximately $73,000.

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.