PTC Therapeutics (NASDAQ:PTCT) Earns Buy Rating from Analysts at UBS Group

Equities research analysts at UBS Group began coverage on shares of PTC Therapeutics (NASDAQ:PTCT - Get Free Report) in a research note issued on Monday, Marketbeat.com reports. The firm set a "buy" rating and a $47.00 price target on the biopharmaceutical company's stock. UBS Group's price objective suggests a potential upside of 34.63% from the company's previous close.

Other research analysts also recently issued research reports about the company. Raymond James raised PTC Therapeutics from an "underperform" rating to a "market perform" rating in a research note on Monday, May 20th. Barclays upped their price objective on PTC Therapeutics from $25.00 to $31.00 and gave the company an "equal weight" rating in a research note on Friday, August 9th. JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $53.00 price objective on shares of PTC Therapeutics in a research note on Thursday, June 20th. Jefferies Financial Group upped their price objective on PTC Therapeutics from $35.00 to $46.00 and gave the company a "buy" rating in a research note on Monday, May 20th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $64.00 price objective on shares of PTC Therapeutics in a research note on Wednesday, August 21st. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $36.64.

PTC Therapeutics Trading Up 2.2 %

NASDAQ PTCT traded up $0.76 during trading on Monday, hitting $34.91. 433,058 shares of the company's stock were exchanged, compared to its average volume of 887,236. The company has a market cap of $2.68 billion, a PE ratio of -4.55 and a beta of 0.65. PTC Therapeutics has a fifty-two week low of $17.53 and a fifty-two week high of $41.93. The stock's 50 day moving average price is $33.06 and its two-hundred day moving average price is $31.56.

Insiders Place Their Bets

In other PTC Therapeutics news, CFO Pierre Gravier sold 2,269 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $34.02, for a total transaction of $77,191.38. Following the transaction, the chief financial officer now directly owns 53,531 shares in the company, valued at approximately $1,821,124.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 5.50% of the company's stock.

Hedge Funds Weigh In On PTC Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of PTCT. Janus Henderson Group PLC boosted its holdings in shares of PTC Therapeutics by 40.5% during the 1st quarter. Janus Henderson Group PLC now owns 3,669,816 shares of the biopharmaceutical company's stock worth $106,744,000 after buying an additional 1,057,223 shares in the last quarter. Vanguard Group Inc. raised its position in shares of PTC Therapeutics by 10.8% during the fourth quarter. Vanguard Group Inc. now owns 8,800,843 shares of the biopharmaceutical company's stock worth $242,551,000 after purchasing an additional 855,354 shares during the period. Armistice Capital LLC raised its position in shares of PTC Therapeutics by 11.6% during the fourth quarter. Armistice Capital LLC now owns 6,864,000 shares of the biopharmaceutical company's stock worth $189,172,000 after purchasing an additional 714,000 shares during the period. Norges Bank acquired a new position in shares of PTC Therapeutics during the fourth quarter worth approximately $15,058,000. Finally, Wellington Management Group LLP raised its position in shares of PTC Therapeutics by 4.0% during the fourth quarter. Wellington Management Group LLP now owns 9,816,603 shares of the biopharmaceutical company's stock worth $270,546,000 after purchasing an additional 380,415 shares during the period.

About PTC Therapeutics

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.