PTC Therapeutics (NASDAQ:PTCT) Upgraded to Market Perform at Raymond James

Raymond James upgraded shares of PTC Therapeutics (NASDAQ:PTCT) from an underperform rating to a market perform rating in a research note published on Monday morning, Marketbeat Ratings reports.

Other equities research analysts have also recently issued research reports about the stock. Morgan Stanley upgraded shares of PTC Therapeutics from an underweight rating to an equal weight rating and raised their target price for the stock from $28.00 to $30.00 in a research note on Monday, April 29th. Cantor Fitzgerald reaffirmed an overweight rating and set a $45.00 price objective on shares of PTC Therapeutics in a report on Friday, April 12th. TD Cowen cut their price objective on shares of PTC Therapeutics from $32.00 to $30.00 and set a market perform rating for the company in a report on Friday, March 1st. Jefferies Financial Group increased their price objective on shares of PTC Therapeutics from $33.00 to $35.00 and gave the company a buy rating in a report on Wednesday, March 20th. Finally, Royal Bank of Canada increased their price objective on shares of PTC Therapeutics from $22.00 to $28.00 and gave the company a sector perform rating in a report on Friday, March 1st. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, PTC Therapeutics presently has a consensus rating of Hold and an average price target of $35.67.

PTC Therapeutics Stock Down 3.9 %

Shares of NASDAQ:PTCT opened at $37.13 on Monday. The firm’s 50 day moving average price is $29.79 and its 200-day moving average price is $27.41. PTC Therapeutics has a twelve month low of $17.53 and a twelve month high of $48.63. The stock has a market capitalization of $2.85 billion, a PE ratio of -4.83 and a beta of 0.63.

PTC Therapeutics (NASDAQ:PTCT) last released its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.20) EPS for the quarter, topping analysts’ consensus estimates of ($1.21) by $0.01. The firm had revenue of $210.12 million for the quarter, compared to the consensus estimate of $160.27 million. Analysts expect that PTC Therapeutics will post -5.27 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Matthew B. Klein sold 3,361 shares of the 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 in the company, valued at approximately $5,620,336.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 4,849 shares of company stock worth $124,107 in the last quarter. Corporate insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC increased its stake in shares of PTC Therapeutics by 132.0% in the 4th 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 last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of PTC Therapeutics by 12.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,075 shares of the biopharmaceutical company’s stock worth $114,000 after acquiring an additional 559 shares during the last quarter. Diversified Trust Co increased its stake in shares of PTC Therapeutics by 6.7% in the 4th quarter. Diversified Trust Co now owns 14,204 shares of the biopharmaceutical company’s stock worth $391,000 after acquiring an additional 896 shares during the last quarter. Teacher Retirement System of Texas increased its stake in shares of PTC Therapeutics by 5.1% in the 3rd quarter. Teacher Retirement System of Texas now owns 18,941 shares of the biopharmaceutical company’s stock worth $424,000 after acquiring an additional 922 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in shares of PTC Therapeutics by 1.3% in the 3rd quarter. Rhumbline Advisers now owns 107,004 shares of the biopharmaceutical company’s stock worth $2,398,000 after acquiring an additional 1,322 shares during the last quarter.

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.