PTC Therapeutics, Inc. (NASDAQ:PTCT – Get Free Report) gapped down before the market opened on Friday after Royal Bank of Canada lowered their price target on the stock from $27.00 to $22.00. The stock had previously closed at $26.66, but opened at $25.71. Royal Bank of Canada currently has a sector perform rating on the stock. PTC Therapeutics shares last traded at $25.56, with a volume of 927,622 shares.
A number of other equities analysts also recently commented on the company. Morgan Stanley downgraded PTC Therapeutics from an “equal weight” rating to an “underweight” rating and set a $28.00 price objective for the company. in a research report on Tuesday, December 19th. Wells Fargo & Company assumed coverage on PTC Therapeutics in a research note on Friday, December 8th. They set an “overweight” rating and a $37.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $51.00 price objective on shares of PTC Therapeutics in a research report on Monday, December 18th. Truist Financial lowered PTC Therapeutics from a “buy” rating to a “hold” rating and lowered their target price for the company from $45.00 to $25.00 in a report on Thursday, October 5th. Finally, Barclays decreased their price objective on PTC Therapeutics from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, October 27th. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $34.71.
Insider Transactions at PTC Therapeutics
In related news, CFO Pierre Gravier acquired 7,700 shares of PTC Therapeutics stock in a transaction that occurred on Tuesday, December 12th. The stock was acquired at an average price of $25.81 per share, for a total transaction of $198,737.00. Following the transaction, the chief financial officer now directly owns 33,700 shares of the company’s stock, valued at approximately $869,797. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Matthew B. Klein sold 10,107 shares of the company’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $27.15, for a total transaction of $274,405.05. Following the completion of the sale, the chief executive officer now owns 168,155 shares in the company, valued at approximately $4,565,408.25. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Pierre Gravier purchased 7,700 shares of the firm’s stock in a transaction dated Tuesday, December 12th. The shares were bought at an average price of $25.81 per share, with a total value of $198,737.00. Following the purchase, the chief financial officer now owns 33,700 shares in the company, valued at approximately $869,797. The disclosure for this purchase can be found here. In the last quarter, insiders sold 28,058 shares of company stock worth $774,677. 5.30% of the stock is currently owned by corporate insiders.
Institutional Trading of PTC Therapeutics
Large investors have recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. lifted its position in shares of PTC Therapeutics by 99.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,941 shares of the biopharmaceutical company’s stock worth $43,000 after purchasing an additional 969 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of PTC Therapeutics during the 2nd quarter worth about $85,000. Lazard Asset Management LLC lifted its position in shares of PTC Therapeutics by 115.1% during the 4th quarter. Lazard Asset Management LLC now owns 2,478 shares of the biopharmaceutical company’s stock worth $94,000 after purchasing an additional 1,326 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of PTC Therapeutics by 317.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,656 shares of the biopharmaceutical company’s stock worth $60,000 after purchasing an additional 2,019 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in shares of PTC Therapeutics during the 2nd quarter worth about $161,000.
PTC Therapeutics Trading Up 0.0 %
The firm has a market cap of $2.01 billion, a price-to-earnings ratio of -3.02 and a beta of 0.61. The firm has a 50-day moving average of $26.34 and a two-hundred day moving average of $29.42.
PTC Therapeutics (NASDAQ:PTCT – Get Free Report) last posted its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported ($1.76) EPS for the quarter, missing the consensus estimate of ($0.85) by ($0.91). The business had revenue of $196.60 million during the quarter, compared to analysts’ expectations of $210.23 million. The firm’s quarterly revenue was down 9.4% on a year-over-year basis. During the same period last year, the business posted ($1.53) earnings per share. As a group, equities analysts anticipate that PTC Therapeutics, Inc. will post -5.8 EPS for the current year.
PTC Therapeutics Company Profile
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.