PTC Therapeutics (NASDAQ:PTCT – Get Rating) had its target price cut by Raymond James from $60.00 to $55.00 in a research report report published on Thursday morning, Benzinga reports. They currently have an outperform rating on the biopharmaceutical company's stock.

PTCT has been the topic of several other research reports. The Goldman Sachs Group assumed coverage on shares of PTC Therapeutics in a report on Wednesday, December 14th. They set a sell rating and a $35.00 target price on the stock. Barclays cut their target price on shares of PTC Therapeutics to $47.00 in a research report on Tuesday, November 1st. Cantor Fitzgerald dropped their price target on shares of PTC Therapeutics from $68.00 to $66.00 and set an overweight rating for the company in a research report on Wednesday. StockNews.com upgraded shares of PTC Therapeutics from a hold rating to a buy rating in a research report on Saturday, February 18th. Finally, Cowen lowered their target price on shares of PTC Therapeutics to $44.00 in a report on Tuesday, November 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, PTC Therapeutics has a consensus rating of Hold and an average target price of $52.80.

PTC Therapeutics Stock Performance

PTCT stock opened at $43.24 on Thursday. The company's fifty day simple moving average is $43.59 and its 200 day simple moving average is $45.27. PTC Therapeutics has a 12-month low of $25.01 and a 12-month high of $55.58.

PTC Therapeutics (NASDAQ:PTCT – Get Rating) last posted its earnings results on Tuesday, February 21st. The biopharmaceutical company reported ($2.35) EPS for the quarter, missing the consensus estimate of ($1.96) by ($0.39). The firm had revenue of $167.41 million for the quarter, compared to the consensus estimate of $183.07 million. During the same period in the previous year, the firm posted ($2.03) earnings per share. PTC Therapeutics's quarterly revenue was up 1.3% compared to the same quarter last year. Sell-side analysts expect that PTC Therapeutics will post -4.56 EPS for the current fiscal year.

Insider Buying and Selling at PTC Therapeutics

In other news, CEO Stuart Walter Peltz sold 2,320 shares of the stock in a transaction dated Tuesday, January 31st. The shares were sold at an average price of $45.63, for a total transaction of $105,861.60. Following the sale, the chief executive officer now owns 166,962 shares of the company's stock, valued at $7,618,476.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other PTC Therapeutics news, CEO Stuart Walter Peltz sold 2,320 shares of the stock in a transaction that occurred on Tuesday, January 31st. The shares were sold at an average price of $45.63, for a total value of $105,861.60. Following the transaction, the chief executive officer now directly owns 166,962 shares in the company, valued at $7,618,476.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Emily Luisa Hill sold 575 shares of the stock in a transaction that occurred on Tuesday, January 31st. The shares were sold at an average price of $45.63, for a total value of $26,237.25. Following the completion of the sale, the chief financial officer now directly owns 46,288 shares of the company's stock, valued at $2,112,121.44. The disclosure for this sale can be found here. Insiders have sold 15,951 shares of company stock valued at $700,923 over the last 90 days. 6.00% of the stock is owned by insiders.

Institutional Investors Weigh In On PTC Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new position in shares of PTC Therapeutics in the fourth quarter valued at $24,587,000. RTW Investments LP lifted its stake in shares of PTC Therapeutics by 11.4% in the 3rd quarter. RTW Investments LP now owns 5,620,580 shares of the biopharmaceutical company's stock valued at $282,153,000 after purchasing an additional 575,273 shares in the last quarter. Armistice Capital LLC lifted its stake in shares of PTC Therapeutics by 17.1% in the 4th quarter. Armistice Capital LLC now owns 3,396,000 shares of the biopharmaceutical company's stock valued at $129,625,000 after purchasing an additional 496,000 shares in the last quarter. State Street Corp lifted its position in PTC Therapeutics by 13.8% during the 2nd quarter. State Street Corp now owns 3,624,877 shares of the biopharmaceutical company's stock worth $145,213,000 after acquiring an additional 440,850 shares in the last quarter. Finally, Two Sigma Investments LP acquired a new position in PTC Therapeutics during the 3rd quarter worth approximately $15,419,000.

PTC Therapeutics Company Profile

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PTC Therapeutics, Inc is a biopharmaceutical company, which engages in the discovery and commercialization of clinically differentiated medicines. It focuses on the development of new treatments for multiple therapeutic areas, including rare diseases and oncology. The firm's portfolio includes Translarna, Emflaza, Tegsedi, Waylivra, and Evrysdi.

Further Reading

• Get a free copy of the StockNews.com research report on PTC Therapeutics (PTCT)
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