PTC Therapeutics (NASDAQ:PTCT) Raised to “Buy” at StockNews.com

PTC Therapeutics (NASDAQ:PTCT) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Monday.

PTCT has been the topic of a number of other research reports. Baird R W raised PTC Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. Royal Bank of Canada lifted their target price on PTC Therapeutics from $32.00 to $34.00 and gave the company a “sector perform” rating in a research report on Friday, October 4th. Morgan Stanley lifted their target price on PTC Therapeutics from $32.00 to $45.00 and gave the company an “equal weight” rating in a research report on Friday, October 11th. Barclays lifted their target price on PTC Therapeutics from $31.00 to $43.00 and gave the company an “equal weight” rating in a research report on Monday. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $64.00 target price on shares of PTC Therapeutics in a research report on Tuesday, September 17th. Three analysts have rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, PTC Therapeutics currently has a consensus rating of “Hold” and a consensus target price of $41.31.

PTC Therapeutics Trading Up 1.3 %

NASDAQ PTCT traded up $0.59 on Monday, reaching $44.87. 1,134,404 shares of the company were exchanged, compared to its average volume of 848,419. The business’s fifty day moving average price is $37.41 and its 200 day moving average price is $35.12. The stock has a market capitalization of $3.45 billion, a P/E ratio of -7.55 and a beta of 0.63. PTC Therapeutics has a fifty-two week low of $18.15 and a fifty-two week high of $46.98.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.16). The business had revenue of $186.70 million during the quarter, compared to the consensus estimate of $192.12 million. Equities research analysts forecast that PTC Therapeutics will post -5.28 earnings per share for the current year.

Institutional Investors Weigh In On PTC Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new position in PTC Therapeutics during the 1st quarter worth $46,000. KBC Group NV grew its stake in PTC Therapeutics by 29.2% during the 3rd quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock worth $83,000 after purchasing an additional 504 shares in the last quarter. CWM LLC grew its stake in PTC Therapeutics by 354.7% during the 3rd quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company’s stock worth $100,000 after purchasing an additional 2,096 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in PTC Therapeutics by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock worth $104,000 after purchasing an additional 492 shares in the last quarter. Finally, Quest Partners LLC acquired a new position in PTC Therapeutics during the 2nd quarter worth $128,000.

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.