StockNews.com Downgrades PTC Therapeutics (NASDAQ:PTCT) to Hold

StockNews.com lowered shares of PTC Therapeutics (NASDAQ:PTCT) from a buy rating to a hold rating in a report issued on Wednesday morning.

PTCT has been the topic of a number of other research reports. Raymond James began coverage on shares of PTC Therapeutics in a research report on Thursday, October 10th. They set a “market perform” rating on the stock. Royal Bank of Canada upgraded PTC Therapeutics from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $39.00 to $63.00 in a report on Tuesday, December 3rd. Morgan Stanley raised shares of PTC Therapeutics from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $45.00 to $67.00 in a research report on Friday, December 13th. Citigroup boosted their target price on shares of PTC Therapeutics from $26.00 to $32.00 and gave the company a “sell” rating in a report on Wednesday, December 4th. Finally, Robert W. Baird increased their price target on shares of PTC Therapeutics from $52.00 to $70.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $54.08.

PTC Therapeutics Stock Performance

PTC Therapeutics stock opened at $45.46 on Wednesday. PTC Therapeutics has a fifty-two week low of $23.58 and a fifty-two week high of $54.16. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of -7.65 and a beta of 0.63. The stock’s fifty day moving average is $43.22 and its two-hundred day moving average is $37.40.

Insiders Place Their Bets

In other news, insider Neil Gregory Almstead sold 69,550 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $52.06, for a total transaction of $3,620,773.00. Following the completion of the transaction, the insider now directly owns 86,202 shares in the company, valued at approximately $4,487,676.12. The trade was a 44.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Mark Elliott Boulding sold 85,600 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $52.26, for a total value of $4,473,456.00. Following the completion of the sale, the vice president now directly owns 92,389 shares of the company’s stock, valued at approximately $4,828,249.14. This trade represents a 48.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 196,950 shares of company stock valued at $10,251,735 in the last quarter. Insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. KBC Group NV boosted its position in shares of PTC Therapeutics by 29.2% during the third quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock worth $83,000 after purchasing an additional 504 shares in the last quarter. CWM LLC lifted its holdings in PTC Therapeutics by 354.7% during the third quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company’s stock worth $100,000 after acquiring an additional 2,096 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in PTC Therapeutics by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock worth $104,000 after acquiring an additional 492 shares in the last quarter. Quest Partners LLC acquired a new position in PTC Therapeutics in the second quarter valued at about $128,000. Finally, Quarry LP increased its holdings in shares of PTC Therapeutics by 100.0% in the second quarter. Quarry LP now owns 5,000 shares of the biopharmaceutical company’s stock worth $153,000 after acquiring an additional 2,500 shares in 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.