Recent Investment Analysts’ Ratings Changes for PTC Therapeutics (PTCT)

Several brokerages have updated their recommendations and price targets on shares of PTC Therapeutics (NASDAQ: PTCT) in the last few weeks:

• 11/27/2024 – PTC Therapeutics had its price target raised by analysts at Robert W. Baird from $48.00 to $52.00. They now have an “outperform” rating on the stock.
• 11/26/2024 – PTC Therapeutics had its price target raised by analysts at Wells Fargo & Company from $56.00 to $68.00. They now have an “overweight” rating on the stock.
• 11/19/2024 – PTC Therapeutics had its price target raised by analysts at JPMorgan Chase & Co. from $51.00 to $62.00. They now have an “overweight” rating on the stock.
• 11/19/2024 – PTC Therapeutics was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 11/11/2024 – PTC Therapeutics had its price target raised by analysts at Barclays PLC from $31.00 to $43.00. They now have an “equal weight” rating on the stock.
• 11/11/2024 – PTC Therapeutics was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 11/8/2024 – PTC Therapeutics had its price target raised by analysts at Robert W. Baird from $44.00 to $48.00. They now have an “outperform” rating on the stock.
• 10/11/2024 – PTC Therapeutics had its price target raised by analysts at Morgan Stanley from $32.00 to $45.00. They now have an “equal weight” rating on the stock.
• 10/10/2024 – PTC Therapeutics is now covered by analysts at Raymond James. They set a “market perform” rating on the stock.
• 10/8/2024 – PTC Therapeutics had its “outperform” rating reaffirmed by analysts at Robert W. Baird. They now have a $44.00 price target on the stock.
• 10/4/2024 – PTC Therapeutics had its price target raised by analysts at Royal Bank of Canada from $32.00 to $34.00. They now have a “sector perform” rating on the stock.

PTC Therapeutics Stock Performance

Shares of PTC Therapeutics stock traded down $1.23 on Friday, reaching $43.88. The stock had a trading volume of 428,781 shares, compared to its average volume of 842,691. The business’s 50-day moving average price is $40.07 and its two-hundred day moving average price is $36.18. PTC Therapeutics, Inc. has a fifty-two week low of $22.47 and a fifty-two week high of $47.24. The stock has a market cap of $3.38 billion, a P/E ratio of -7.39 and a beta of 0.63.

Hedge Funds Weigh In On PTC Therapeutics

Several large investors have recently bought and sold shares of the stock. Choreo LLC raised its stake in shares of PTC Therapeutics by 4.1% in the 2nd quarter. Choreo LLC now owns 11,426 shares of the biopharmaceutical company’s stock valued at $356,000 after buying an additional 452 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings 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 worth $104,000 after purchasing an additional 492 shares during the last quarter. KBC Group NV grew its holdings in shares of PTC Therapeutics by 29.2% in the 3rd quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock worth $83,000 after purchasing an additional 504 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of PTC Therapeutics by 3.4% in the 2nd quarter. Arizona State Retirement System now owns 19,301 shares of the biopharmaceutical company’s stock worth $590,000 after purchasing an additional 636 shares during the last quarter. Finally, Creative Planning grew its holdings in shares of PTC Therapeutics by 8.1% in the 3rd quarter. Creative Planning now owns 10,944 shares of the biopharmaceutical company’s stock worth $406,000 after purchasing an additional 816 shares during the last quarter.

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.