Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) hit a new 52-week high during trading on Thursday . The stock traded as high as $42.89 and last traded at $42.89, with a volume of 1014 shares traded. The stock had previously closed at $42.48.
Analyst Ratings Changes
Several analysts have commented on PTCT shares. Robert W. Baird reaffirmed an "outperform" rating and issued a $44.00 price objective on shares of PTC Therapeutics in a research report on Tuesday, October 8th. UBS Group initiated coverage on shares of PTC Therapeutics in a research report on Monday, August 26th. They issued a "buy" rating and a $47.00 price objective on the stock. Cantor Fitzgerald reissued an "overweight" rating and issued a $64.00 price target on shares of PTC Therapeutics in a research report on Tuesday, September 17th. Raymond James initiated coverage on shares of PTC Therapeutics in a research report on Thursday, October 10th. They issued a "market perform" rating on the stock. Finally, Royal Bank of Canada boosted their price target on shares of PTC Therapeutics from $32.00 to $34.00 and gave the company a "sector perform" rating in a research report on Friday, October 4th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $40.08.
Check Out Our Latest Stock Analysis on PTC Therapeutics
PTC Therapeutics Price Performance
The firm's 50 day moving average is $35.88 and its 200 day moving average is $33.81. The company has a market cap of $3.18 billion, a PE ratio of -6.56 and a beta of 0.65.
PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.16) 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. As a group, analysts anticipate that PTC Therapeutics, Inc. will post -5.17 EPS for the current year.
Hedge Funds Weigh In On PTC Therapeutics
A number of hedge funds and other institutional investors have recently bought and sold shares of PTCT. Allspring Global Investments Holdings LLC purchased a new position in PTC Therapeutics in the 1st quarter worth approximately $46,000. CWM LLC grew its stake in PTC Therapeutics by 354.7% in the 3rd quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company's stock worth $100,000 after buying an additional 2,096 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in 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 buying an additional 492 shares in the last quarter. Quest Partners LLC purchased a new position in PTC Therapeutics in the 2nd quarter worth approximately $128,000. Finally, Quarry LP grew its stake in PTC Therapeutics by 100.0% in the 2nd quarter. Quarry LP now owns 5,000 shares of the biopharmaceutical company's stock worth $153,000 after buying an additional 2,500 shares in the last quarter.
PTC Therapeutics Company Profile
(
Get Free Report)
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.
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