Brokerages Set PTC Therapeutics, Inc. (NASDAQ:PTCT) Price Target at $40.38

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) have been given an average rating of “Hold” by the fifteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $41.31.

A number of brokerages have recently issued reports on PTCT. StockNews.com upgraded shares of PTC Therapeutics from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Barclays raised 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, November 11th. Robert W. Baird boosted their price target on shares of PTC Therapeutics from $44.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Raymond James initiated coverage on shares of PTC Therapeutics in a report on Thursday, October 10th. They set a “market perform” rating for the company. Finally, Baird R W upgraded shares of PTC Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th.

Institutional Investors Weigh In On PTC Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in PTC Therapeutics by 6.5% during the first quarter. Vanguard Group Inc. now owns 9,369,014 shares of the biopharmaceutical company’s stock valued at $272,545,000 after acquiring an additional 568,171 shares during the period. Armistice Capital LLC increased its holdings in shares of PTC Therapeutics by 2.9% in the second quarter. Armistice Capital LLC now owns 6,962,227 shares of the biopharmaceutical company’s stock worth $212,905,000 after purchasing an additional 198,227 shares during the last quarter. Cowen AND Company LLC increased its holdings in shares of PTC Therapeutics by 0.8% in the second quarter. Cowen AND Company LLC now owns 3,756,469 shares of the biopharmaceutical company’s stock worth $114,873,000 after purchasing an additional 30,843 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of PTC Therapeutics by 40.5% in the first quarter. Janus Henderson Group PLC now owns 3,669,816 shares of the biopharmaceutical company’s stock worth $106,744,000 after purchasing an additional 1,057,223 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of PTC Therapeutics by 5.4% in the third quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company’s stock worth $107,554,000 after purchasing an additional 149,700 shares during the last quarter.

PTC Therapeutics Trading Down 7.4 %

NASDAQ:PTCT opened at $39.23 on Friday. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of -6.60 and a beta of 0.63. The firm has a fifty day simple moving average of $38.25 and a two-hundred day simple moving average of $35.48. PTC Therapeutics has a 12 month low of $19.75 and a 12 month high of $46.98.

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.