PTC Therapeutics (NASDAQ:PTCT) Shares Up 4.5% - Should You Buy?

PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report)'s share price shot up 4.5% during trading on Wednesday . The stock traded as high as $41.08 and last traded at $41.08. 434,757 shares were traded during trading, a decline of 49% from the average session volume of 850,198 shares. The stock had previously closed at $39.32.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PTCT. Barclays increased their price objective on PTC Therapeutics from $25.00 to $31.00 and gave the company an "equal weight" rating in a research report on Friday, August 9th. Baird R W raised PTC Therapeutics to a "strong-buy" rating in a report on Wednesday, September 4th. Cantor Fitzgerald reissued an "overweight" rating and issued a $64.00 target price on shares of PTC Therapeutics in a report on Tuesday, September 17th. UBS Group assumed coverage on PTC Therapeutics in a report on Monday, August 26th. They issued a "buy" rating and a $47.00 target price on the stock. Finally, Raymond James assumed coverage on PTC Therapeutics in a report on Thursday, October 10th. They issued a "market perform" rating on the stock. Three analysts have rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $40.08.

PTC Therapeutics Stock Up 8.0 %

The firm has a 50 day moving average price of $35.71 and a 200 day moving average price of $33.76. The stock has a market cap of $3.27 billion, a P/E ratio of -6.73 and a beta of 0.65.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its earnings results 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 during the quarter, compared to the consensus estimate of $192.12 million. Equities analysts predict that PTC Therapeutics, Inc. will post -5.17 earnings per share for the current fiscal year.

Institutional Trading of PTC Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Choreo LLC raised its stake in PTC Therapeutics by 4.1% during the 2nd quarter. Choreo LLC now owns 11,426 shares of the biopharmaceutical company's stock valued at $356,000 after purchasing an additional 452 shares during the period. Arizona State Retirement System grew its holdings in PTC Therapeutics by 3.4% during the 2nd quarter. Arizona State Retirement System now owns 19,301 shares of the biopharmaceutical company's stock valued at $590,000 after buying an additional 636 shares in the last quarter. Creative Planning grew its holdings in PTC Therapeutics by 8.1% during the 3rd quarter. Creative Planning now owns 10,944 shares of the biopharmaceutical company's stock valued at $406,000 after buying an additional 816 shares in the last quarter. Diversified Trust Co grew its holdings in PTC Therapeutics by 5.6% during the 2nd quarter. Diversified Trust Co now owns 15,317 shares of the biopharmaceutical company's stock valued at $468,000 after buying an additional 818 shares in the last quarter. Finally, ProShare Advisors LLC grew its holdings in PTC Therapeutics by 9.3% during the 1st quarter. ProShare Advisors LLC now owns 18,313 shares of the biopharmaceutical company's stock valued at $533,000 after buying an additional 1,564 shares in 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.