PTC Therapeutics, Inc. (NASDAQ:PTCT – Get Free Report)’s stock price gapped down before the market opened on Friday after TD Cowen lowered their price target on the stock from $32.00 to $30.00. The stock had previously closed at $28.19, but opened at $26.50. TD Cowen currently has a market perform rating on the stock. PTC Therapeutics shares last traded at $29.84, with a volume of 172,867 shares traded.
Other analysts have also issued research reports about the company. Cantor Fitzgerald decreased their price target on PTC Therapeutics from $51.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday, January 26th. Morgan Stanley lowered PTC Therapeutics from an “equal weight” rating to an “underweight” rating and set a $28.00 price target on the stock. in a research note on Tuesday, December 19th. Wells Fargo & Company initiated coverage on PTC Therapeutics in a research note on Friday, December 8th. They issued an “overweight” rating and a $37.00 price target on the stock. Finally, Royal Bank of Canada cut their price objective on PTC Therapeutics from $27.00 to $22.00 and set a “sector perform” rating for the company in a research report on Friday, January 26th. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $34.40.
Insider Buying and Selling at PTC Therapeutics
In other PTC Therapeutics news, CEO Matthew B. Klein sold 10,107 shares of the company’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $27.15, for a total value of $274,405.05. Following the sale, the chief executive officer now owns 168,155 shares in the company, valued at $4,565,408.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Pierre Gravier bought 7,700 shares of the stock in a transaction dated Tuesday, December 12th. The shares were bought at an average price of $25.81 per share, for a total transaction of $198,737.00. Following the completion of the purchase, the chief financial officer now owns 33,700 shares in the company, valued at $869,797. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matthew B. Klein sold 10,107 shares of the stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $27.15, for a total value of $274,405.05. Following the sale, the chief executive officer now directly owns 168,155 shares in the company, valued at approximately $4,565,408.25. The disclosure for this sale can be found here. Insiders have sold 29,788 shares of company stock worth $821,819 over the last 90 days. Company insiders own 5.30% of the company’s stock.
Institutional Investors Weigh In On PTC Therapeutics
Large investors have recently added to or reduced their stakes in the stock. Hexagon Capital Partners LLC grew its position in 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 buying an additional 557 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in PTC Therapeutics by 99.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,941 shares of the biopharmaceutical company’s stock worth $43,000 after buying an additional 969 shares in the last quarter. KBC Group NV acquired a new stake in PTC Therapeutics during the fourth quarter worth approximately $43,000. Nisa Investment Advisors LLC grew its position in PTC Therapeutics by 317.0% during the third quarter. Nisa Investment Advisors LLC now owns 2,656 shares of the biopharmaceutical company’s stock worth $60,000 after buying an additional 2,019 shares in the last quarter. Finally, Lazard Asset Management LLC grew its position in PTC Therapeutics by 115.1% during the fourth quarter. Lazard Asset Management LLC now owns 2,478 shares of the biopharmaceutical company’s stock worth $94,000 after buying an additional 1,326 shares in the last quarter.
PTC Therapeutics Price Performance
The stock has a 50-day moving average of $27.22 and a 200-day moving average of $26.92. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of -3.82 and a beta of 0.67.
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.