Barclays Issues Positive Forecast for PTC Therapeutics (NASDAQ:PTCT) Stock Price

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) had its target price hoisted by equities researchers at Barclays from $31.00 to $43.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the biopharmaceutical company's stock. Barclays's price objective would indicate a potential downside of 4.17% from the stock's current price.

Several other research firms have also recently weighed in on PTCT. Cantor Fitzgerald reissued an "overweight" rating and issued a $64.00 price target on shares of PTC Therapeutics in a research note on Tuesday, September 17th. Robert W. Baird boosted their target price on shares of PTC Therapeutics from $44.00 to $48.00 and gave the stock an "outperform" rating in a research note on Friday. Baird R W raised shares of PTC Therapeutics to a "strong-buy" rating in a research report on Wednesday, September 4th. UBS Group began coverage on shares of PTC Therapeutics in a report on Monday, August 26th. They issued a "buy" rating and a $47.00 target price for the company. Finally, Morgan Stanley increased their price target on shares of PTC Therapeutics from $32.00 to $45.00 and gave the stock an "equal weight" rating in a report on Friday, October 11th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, PTC Therapeutics has an average rating of "Hold" and an average target price of $41.31.

PTC Therapeutics Price Performance

Shares of PTC Therapeutics stock traded up $0.59 during trading on Monday, reaching $44.87. 1,134,404 shares of the stock traded hands, compared to its average volume of 848,419. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of -7.59 and a beta of 0.63. PTC Therapeutics has a 52-week low of $18.15 and a 52-week high of $46.98. The business has a fifty day simple moving average of $37.41 and a two-hundred day simple moving average of $35.12.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($0.16). The company had revenue of $186.70 million for the quarter, compared to the consensus estimate of $192.12 million. On average, research analysts predict that PTC Therapeutics will post -5.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PTCT. Vanguard Group Inc. increased its stake in PTC Therapeutics by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 9,369,014 shares of the biopharmaceutical company's stock worth $272,545,000 after purchasing an additional 568,171 shares in the last quarter. Armistice Capital LLC increased its position in PTC Therapeutics by 2.9% during the 2nd quarter. Armistice Capital LLC now owns 6,962,227 shares of the biopharmaceutical company's stock worth $212,905,000 after buying an additional 198,227 shares during the period. Cowen AND Company LLC increased its position in PTC Therapeutics by 0.8% during the 2nd quarter. Cowen AND Company LLC now owns 3,756,469 shares of the biopharmaceutical company's stock worth $114,873,000 after buying an additional 30,843 shares during the period. Janus Henderson Group PLC increased its position 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 period. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of PTC Therapeutics by 21.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,605,841 shares of the biopharmaceutical company's stock worth $46,714,000 after purchasing an additional 282,422 shares during the period.

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.