PTC Therapeutics (NASDAQ:PTCT) Price Target Raised to $43.00

PTC Therapeutics (NASDAQ:PTCT) had its price target upped by Barclays from $31.00 to $43.00 in a research note published on Monday morning,Benzinga reports. They currently have an equal weight rating on the biopharmaceutical company’s stock.

Several other research firms have also commented on PTCT. Baird R W raised shares of PTC Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. Raymond James assumed coverage on PTC Therapeutics in a research report on Thursday, October 10th. They set a “market perform” rating for the company. Royal Bank of Canada lifted their target price on PTC Therapeutics from $32.00 to $34.00 and gave the stock a “sector perform” rating in a report on Friday, October 4th. UBS Group assumed coverage on PTC Therapeutics in a report on Monday, August 26th. They set a “buy” rating and a $47.00 target price for the company. Finally, Robert W. Baird lifted their price target on PTC Therapeutics from $44.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $41.31.

PTC Therapeutics Stock Down 1.3 %

NASDAQ:PTCT opened at $44.03 on Monday. The business’s 50-day moving average price is $38.03 and its 200 day moving average price is $35.43. PTC Therapeutics has a 52-week low of $19.05 and a 52-week high of $46.98. The firm has a market cap of $3.40 billion, a P/E ratio of -7.41 and a beta of 0.63.

Institutional Trading of PTC Therapeutics

Institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of PTC Therapeutics during the 1st quarter valued at about $46,000. KBC Group NV raised its position in PTC Therapeutics by 29.2% during the third quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock valued at $83,000 after acquiring an additional 504 shares in the last quarter. CWM LLC lifted its stake in PTC Therapeutics by 354.7% in the third quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company’s stock valued at $100,000 after acquiring an additional 2,096 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of 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 during the last quarter. Finally, Quest Partners LLC bought a new position in shares of PTC Therapeutics during the 2nd quarter valued at $128,000.

About PTC Therapeutics

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.