PTC Therapeutics, Inc. (NASDAQ:PTCT)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $49.68 and last traded at $49.62, with a volume of 9383 shares trading hands. The stock had previously closed at $47.61.
Several equities research analysts have commented on PTCT shares. TheStreet raised PTC Therapeutics from a “d” rating to a “c-” rating in a report on Tuesday, October 29th. SunTrust Banks started coverage on PTC Therapeutics in a research report on Tuesday, November 12th. They issued a “buy” rating and a $78.00 price target for the company. Barclays reiterated a “hold” rating and set a $43.00 price target on shares of PTC Therapeutics in a report on Monday, August 12th. ValuEngine raised shares of PTC Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. Finally, Credit Suisse Group restated a “buy” rating and issued a $54.00 price objective on shares of PTC Therapeutics in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $54.38.
The stock has a market capitalization of $2.89 billion, a PE ratio of -26.42 and a beta of 1.90. The firm’s fifty day moving average price is $41.26 and its two-hundred day moving average price is $41.81. The company has a quick ratio of 4.30, a current ratio of 4.40 and a debt-to-equity ratio of 0.44.
A number of hedge funds have recently bought and sold shares of the business. Quantamental Technologies LLC purchased a new stake in shares of PTC Therapeutics during the 2nd quarter valued at about $49,000. Meeder Asset Management Inc. boosted its stake in shares of PTC Therapeutics by 2,347.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 1,738 shares of the biopharmaceutical company’s stock worth $60,000 after acquiring an additional 1,667 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of PTC Therapeutics by 15.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,596 shares of the biopharmaceutical company’s stock valued at $122,000 after acquiring an additional 474 shares during the period. Tower Research Capital LLC TRC purchased a new stake in shares of PTC Therapeutics in the 3rd quarter worth $130,000. Finally, Aperio Group LLC bought a new position in PTC Therapeutics in the 2nd quarter worth $168,000. 99.35% of the stock is currently owned by institutional investors.
About PTC Therapeutics (NASDAQ:PTCT)
PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines for the treatment of rare disorders. The company offers Translarna (ataluren) and Emflaza (deflazacort) for the treatment of nonsense mutation Duchenne muscular dystrophy in ambulatory patients.
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