PTC Therapeutics (NASDAQ:PTCT) Stock Price Up 3.9%

PTC Therapeutics, Inc. (NASDAQ:PTCT) shares rose 3.9% on Tuesday . The stock traded as high as $25.35 and last traded at $25.23. Approximately 1,118,736 shares changed hands during trading, an increase of 38% from the average daily volume of 812,325 shares. The stock had previously closed at $24.28.

Wall Street Analysts Forecast Growth

PTCT has been the subject of several analyst reports. Credit Suisse Group reissued a “neutral” rating and set a $50.00 price target on shares of PTC Therapeutics in a research report on Thursday, July 20th. Bank of America dropped their price target on shares of PTC Therapeutics from $43.00 to $23.00 and set an “underperform” rating for the company in a research report on Tuesday. Royal Bank of Canada dropped their price target on shares of PTC Therapeutics from $49.00 to $26.00 and set a “sector perform” rating for the company in a research report on Monday. Barclays dropped their price target on shares of PTC Therapeutics from $44.00 to $26.00 and set an “equal weight” rating for the company in a research report on Monday. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $73.00 price target on shares of PTC Therapeutics in a research report on Monday, August 7th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $39.57.

PTC Therapeutics Trading Up 5.3 %

The company’s 50 day moving average is $39.26 and its 200-day moving average is $44.80. The company has a market capitalization of $1.93 billion, a P/E ratio of -2.88 and a beta of 0.37.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($2.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.58) by ($1.08). The company had revenue of $213.80 million for the quarter, compared to the consensus estimate of $206.99 million. PTC Therapeutics’s quarterly revenue was up 29.2% compared to the same quarter last year. During the same period last year, the firm posted ($2.13) EPS. Analysts predict that PTC Therapeutics, Inc. will post -5.45 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Alethia Young sold 11,666 shares of the stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $39.86, for a total value of $465,006.76. Following the completion of the transaction, the director now directly owns 9,067 shares in the company, valued at approximately $361,410.62. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.30% of the stock is owned by company insiders.

Institutional Trading of PTC Therapeutics

Institutional investors have recently bought and sold shares of the company. New York Life Investment Management LLC purchased a new stake in PTC Therapeutics during the 1st quarter valued at about $475,000. SG Americas Securities LLC grew its position in PTC Therapeutics by 526.6% during the 1st quarter. SG Americas Securities LLC now owns 26,428 shares of the biopharmaceutical company’s stock valued at $1,280,000 after purchasing an additional 22,210 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its position in PTC Therapeutics by 11.9% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 110,279 shares of the biopharmaceutical company’s stock valued at $4,209,000 after purchasing an additional 11,749 shares during the last quarter. Mackenzie Financial Corp grew its position in PTC Therapeutics by 131.6% during the 1st quarter. Mackenzie Financial Corp now owns 13,729 shares of the biopharmaceutical company’s stock valued at $665,000 after purchasing an additional 7,800 shares during the last quarter. Finally, Integral Health Asset Management LLC grew its position in PTC Therapeutics by 78.0% during the 1st quarter. Integral Health Asset Management LLC now owns 178,000 shares of the biopharmaceutical company’s stock valued at $8,622,000 after purchasing an additional 78,000 shares during the last quarter.

About PTC Therapeutics

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders. Its portfolio pipeline includes commercial products and product candidates in various stages of development, including clinical, pre-clinical and research and discovery stages, focuses on the development of treatments for multiple therapeutic areas, such as rare diseases.