PTC Therapeutics (NASDAQ:PTCT) Trading Up 6.1%

PTC Therapeutics, Inc. (NASDAQ:PTCT) shot up 6.1% on Monday . The company traded as high as $30.49 and last traded at $30.30. 137,088 shares traded hands during trading, a decline of 86% from the average session volume of 960,482 shares. The stock had previously closed at $28.57.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PTCT. Royal Bank of Canada increased their price target on PTC Therapeutics from $22.00 to $28.00 and gave the stock a “sector perform” rating in a report on Friday, March 1st. Morgan Stanley upgraded PTC Therapeutics from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $28.00 to $30.00 in a report on Monday. Jefferies Financial Group raised their target price on PTC Therapeutics from $33.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 target price on shares of PTC Therapeutics in a report on Friday, April 12th. Finally, TD Cowen lowered their target price on PTC Therapeutics from $32.00 to $30.00 and set a “market perform” rating for the company in a report on Friday, March 1st. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $33.67.

PTC Therapeutics Stock Up 12.0 %

The company has a market cap of $2.45 billion, a price-to-earnings ratio of -4.01 and a beta of 0.67. The firm has a 50-day simple moving average of $28.15 and a 200 day simple moving average of $25.83.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.20) EPS for the quarter, topping the consensus estimate of ($1.21) by $0.01. The firm had revenue of $210.12 million for the quarter, compared to analyst estimates of $160.27 million. As a group, research analysts expect that PTC Therapeutics, Inc. will post -5.87 EPS for the current year.

Insider Activity at PTC Therapeutics

In other PTC Therapeutics news, CEO Matthew B. Klein sold 3,361 shares of the business’s stock in a transaction on Friday, April 19th. The stock was sold at an average price of $24.89, for a total transaction of $83,655.29. Following the sale, the chief executive officer now directly owns 225,807 shares in the company, valued at $5,620,336.23. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 6,404 shares of company stock worth $165,506 over the last three months. 5.30% of the stock is currently owned by corporate insiders.

Institutional Trading of PTC Therapeutics

Institutional investors have recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. raised its holdings in shares of PTC Therapeutics by 69.0% in the first quarter. China Universal Asset Management Co. Ltd. now owns 14,752 shares of the biopharmaceutical company’s stock worth $429,000 after acquiring an additional 6,025 shares during the last quarter. Pinnacle Associates Ltd. raised its holdings in shares of PTC Therapeutics by 1.8% in the first quarter. Pinnacle Associates Ltd. now owns 156,938 shares of the biopharmaceutical company’s stock worth $4,565,000 after acquiring an additional 2,734 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of PTC Therapeutics by 26.2% in the first quarter. Assenagon Asset Management S.A. now owns 306,231 shares of the biopharmaceutical company’s stock worth $8,908,000 after acquiring an additional 63,570 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of PTC Therapeutics in the first quarter worth $46,000. Finally, Los Angeles Capital Management LLC raised its holdings in shares of PTC Therapeutics by 23.1% in the first quarter. Los Angeles Capital Management LLC now owns 10,800 shares of the biopharmaceutical company’s stock worth $314,000 after acquiring an additional 2,024 shares during 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.