PTC Therapeutics (NASDAQ:PTCT) Downgraded to “Hold” Rating by StockNews.com

StockNews.com lowered shares of PTC Therapeutics (NASDAQ:PTCT) from a buy rating to a hold rating in a research report report published on Tuesday.

Several other research firms also recently weighed in on PTCT. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $64.00 target price on shares of PTC Therapeutics in a research report on Tuesday, September 17th. Barclays lifted their price objective on shares of PTC Therapeutics from $31.00 to $43.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Raymond James started coverage on shares of PTC Therapeutics in a report on Thursday, October 10th. They set a “market perform” rating on the stock. 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 research note on Friday, November 8th. Finally, UBS Group initiated coverage on PTC Therapeutics in a research note on Monday, August 26th. They issued a “buy” rating and a $47.00 price objective on the stock. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $42.00.

PTC Therapeutics Stock Up 0.3 %

NASDAQ:PTCT opened at $39.36 on Tuesday. PTC Therapeutics has a 52 week low of $20.50 and a 52 week high of $46.98. The stock’s fifty day moving average is $38.56 and its two-hundred day moving average is $35.60. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of -6.66 and a beta of 0.63.

Institutional Investors Weigh In On PTC Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Burney Co. purchased a new position in PTC Therapeutics in the first quarter valued at approximately $1,223,000. Assenagon Asset Management S.A. boosted its holdings in shares of PTC Therapeutics by 21.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 372,827 shares of the biopharmaceutical company’s stock valued at $11,401,000 after buying an additional 66,596 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of PTC Therapeutics by 17.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 279,049 shares of the biopharmaceutical company’s stock valued at $8,533,000 after buying an additional 40,840 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in PTC Therapeutics during the 1st quarter worth $3,302,000. Finally, Renaissance Technologies LLC lifted its position in PTC Therapeutics by 7.4% in the second quarter. Renaissance Technologies LLC now owns 818,100 shares of the biopharmaceutical company’s stock valued at $25,017,000 after acquiring an additional 56,700 shares during the last quarter.

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.