Jefferies Financial Group Raises PTC Therapeutics (NASDAQ:PTCT) Price Target to $46.00

PTC Therapeutics (NASDAQ:PTCT) had its target price hoisted by Jefferies Financial Group from $35.00 to $46.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

A number of other brokerages have also commented on PTCT. Cantor Fitzgerald restated an overweight rating and issued a $45.00 price target on shares of PTC Therapeutics in a report on Friday, April 12th. TD Cowen cut their price target on PTC Therapeutics from $32.00 to $30.00 and set a market perform rating on the stock in a report on Friday, March 1st. Morgan Stanley upgraded PTC Therapeutics from an underweight rating to an equal weight rating and boosted their price target for the company from $28.00 to $30.00 in a report on Monday, April 29th. Royal Bank of Canada lifted their target price on PTC Therapeutics from $22.00 to $28.00 and gave the company a sector perform rating in a research report on Friday, March 1st. Finally, Raymond James raised PTC Therapeutics from an underperform rating to a market perform rating in a research report on Monday. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, PTC Therapeutics currently has a consensus rating of Hold and a consensus target price of $35.67.

PTC Therapeutics Trading Down 0.5 %

PTCT stock opened at $38.64 on Monday. The business’s 50-day moving average price is $29.63 and its two-hundred day moving average price is $27.33. The firm has a market cap of $2.96 billion, a PE ratio of -5.03 and a beta of 0.63. PTC Therapeutics has a 1-year low of $17.53 and a 1-year high of $59.75.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.20) EPS for the quarter, beating analysts’ consensus estimates of ($1.21) by $0.01. The firm had revenue of $210.12 million during the quarter, compared to the consensus estimate of $160.27 million. On average, analysts forecast that PTC Therapeutics will post -5.36 earnings per share for the current year.

Insiders Place Their Bets

In other PTC Therapeutics news, CEO Matthew B. Klein sold 3,361 shares of the business’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $24.89, for a total transaction of $83,655.29. Following the transaction, the chief executive officer now owns 225,807 shares of the company’s stock, valued at $5,620,336.23. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders have sold a total of 4,849 shares of company stock valued at $124,107 over the last 90 days. 5.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PTC Therapeutics

A number of institutional investors have recently made changes to their positions in PTCT. Hexagon Capital Partners LLC boosted its holdings in shares of 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 acquiring an additional 557 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of PTC Therapeutics during the first quarter worth approximately $46,000. Nisa Investment Advisors LLC boosted 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 valued at $60,000 after buying an additional 2,019 shares during the period. Headlands Technologies LLC boosted 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 valued at $129,000 after buying an additional 3,338 shares during the period. Finally, Lazard Asset Management LLC boosted its stake in shares of PTC Therapeutics by 268.9% in the first quarter. Lazard Asset Management LLC now owns 6,504 shares of the biopharmaceutical company’s stock valued at $188,000 after buying an additional 4,741 shares during the period.

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.