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

PTC Therapeutics (NASDAQ:PTCT) had its price target hoisted by research analysts at Barclays from $31.00 to $43.00 in a report released on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the biopharmaceutical company’s stock. Barclays‘s price objective indicates a potential downside of 3.63% from the company’s previous close.

PTCT has been the topic of a number of other reports. Baird R W raised shares of PTC Therapeutics to a “strong-buy” rating in a report on Wednesday, September 4th. Robert W. Baird boosted their price target on PTC Therapeutics from $44.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. 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. Raymond James assumed coverage on shares of PTC Therapeutics in a report on Thursday, October 10th. They issued a “market perform” rating on the stock. Finally, Morgan Stanley lifted their price objective on shares of PTC Therapeutics from $32.00 to $45.00 and gave the company an “equal weight” rating in a research note on Friday, October 11th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, PTC Therapeutics has an average rating of “Hold” and a consensus target price of $41.31.

PTC Therapeutics Price Performance

PTC Therapeutics stock opened at $44.62 on Monday. PTC Therapeutics has a 1-year low of $18.15 and a 1-year high of $46.98. The business has a fifty day moving average price of $37.60 and a 200-day moving average price of $35.26. The stock has a market capitalization of $3.43 billion, a price-to-earnings ratio of -7.39 and a beta of 0.63.

Institutional Trading of PTC Therapeutics

A number of institutional investors have recently bought and sold shares of PTCT. Allspring Global Investments Holdings LLC purchased a new position in PTC Therapeutics in the first quarter valued at approximately $46,000. KBC Group NV lifted its position in shares of 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 buying an additional 504 shares during the last quarter. CWM LLC boosted its holdings in shares of PTC Therapeutics by 354.7% in the 3rd quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company’s stock valued at $100,000 after buying an additional 2,096 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of PTC Therapeutics by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 492 shares during the last quarter. Finally, Quest Partners LLC acquired a new stake 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.