PTC Therapeutics (NASDAQ:PTCT) Rating Increased to Buy at StockNews.com

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

A number of other equities research analysts also recently commented on PTCT. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $64.00 price objective on shares of PTC Therapeutics in a research report on Tuesday, September 17th. Royal Bank of Canada lifted their price objective 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. Robert W. Baird lifted their price objective on PTC Therapeutics from $44.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday. Morgan Stanley lifted their price objective 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. Finally, Barclays boosted their price target on PTC Therapeutics from $31.00 to $43.00 and gave the company an “equal weight” rating in a research report on Monday. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PTC Therapeutics currently has a consensus rating of “Hold” and an average price target of $41.31.

PTC Therapeutics Trading Up 1.3 %

Shares of NASDAQ PTCT traded up $0.59 during trading on Monday, reaching $44.87. The company had a trading volume of 1,134,404 shares, compared to its average volume of 848,419. PTC Therapeutics has a twelve month low of $18.15 and a twelve month high of $46.98. The stock has a market capitalization of $3.45 billion, a PE ratio of -7.55 and a beta of 0.63. The stock has a 50-day moving average price of $37.41 and a two-hundred day moving average price of $35.12.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.16) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.16). The firm had revenue of $186.70 million during the quarter, compared to analyst estimates of $192.12 million. On average, sell-side analysts predict that PTC Therapeutics will post -5.28 EPS for the current year.

Institutional Investors Weigh In On PTC Therapeutics

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