PTC Therapeutics, Inc. (NASDAQ:PTCT) Receives $40.38 Average Target Price from Analysts

PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) has earned a consensus recommendation of "Hold" from the fifteen analysts that are covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $40.38.

Several research firms have recently issued reports on PTCT. Baird R W raised PTC Therapeutics to a "strong-buy" rating in a research note on Wednesday, September 4th. Robert W. Baird raised their price objective on shares of PTC Therapeutics from $44.00 to $48.00 and gave the stock an "outperform" rating in a report on Friday. Morgan Stanley increased their target price on PTC Therapeutics from $32.00 to $45.00 and gave the stock an "equal weight" rating in a research report on Friday, October 11th. Royal Bank of Canada lifted their price target on PTC Therapeutics from $32.00 to $34.00 and gave the company a "sector perform" rating in a research report on Friday, October 4th. Finally, Raymond James began coverage on PTC Therapeutics in a research report on Thursday, October 10th. They set a "market perform" rating for the company.

Institutional Trading of PTC Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of PTCT. Allspring Global Investments Holdings LLC purchased a new stake in PTC Therapeutics in the 1st quarter worth about $46,000. Duality Advisers LP raised its holdings in shares of PTC Therapeutics by 5.8% in the first quarter. Duality Advisers LP now owns 49,322 shares of the biopharmaceutical company's stock valued at $1,435,000 after acquiring an additional 2,724 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of PTC Therapeutics in the 1st quarter worth approximately $1,210,000. Russell Investments Group Ltd. boosted its position in PTC Therapeutics by 57.9% during the 1st quarter. Russell Investments Group Ltd. now owns 301,790 shares of the biopharmaceutical company's stock valued at $8,779,000 after acquiring an additional 110,670 shares in the last quarter. Finally, ProShare Advisors LLC boosted its position in PTC Therapeutics by 9.3% during the first quarter. ProShare Advisors LLC now owns 18,313 shares of the biopharmaceutical company's stock valued at $533,000 after purchasing an additional 1,564 shares in the last quarter.

PTC Therapeutics Stock Up 3.1 %

Shares of PTCT stock traded up $1.32 during trading on Friday, hitting $44.28. The company had a trading volume of 1,019,356 shares, compared to its average volume of 846,980. The stock has a market capitalization of $3.41 billion, a price-to-earnings ratio of -7.45 and a beta of 0.63. PTC Therapeutics has a 52 week low of $18.15 and a 52 week high of $46.55. The stock's 50-day moving average is $37.41 and its two-hundred day moving average is $34.99.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last posted its quarterly 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 business had revenue of $186.70 million for the quarter, compared to analyst estimates of $192.12 million. On average, research analysts predict that PTC Therapeutics will post -5.28 EPS for the current fiscal year.

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.