PTC Therapeutics, Inc. (NASDAQ:PTCT) Given Average Recommendation of "Hold" by Brokerages

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) have received an average recommendation of "Hold" from the fifteen research firms that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $52.38.

A number of research firms have weighed in on PTCT. Raymond James initiated coverage on shares of PTC Therapeutics in a research note on Thursday, October 10th. They issued a "market perform" rating on the stock. Baird R W raised shares of PTC Therapeutics to a "strong-buy" rating in a research report on Wednesday, September 4th. JPMorgan Chase & Co. boosted their price target on shares of PTC Therapeutics from $51.00 to $62.00 and gave the company an "overweight" rating in a research report on Tuesday, November 19th. The Goldman Sachs Group lifted their price objective on shares of PTC Therapeutics from $32.00 to $42.00 and gave the company a "sell" rating in a research note on Wednesday. Finally, UBS Group increased their target price on shares of PTC Therapeutics from $47.00 to $71.00 and gave the company a "buy" rating in a report on Tuesday.

Hedge Funds Weigh In On PTC Therapeutics

Several large investors have recently bought and sold shares of the stock. KBC Group NV grew its holdings in shares of PTC Therapeutics by 29.2% in the 3rd quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company's stock worth $83,000 after purchasing an additional 504 shares during the last quarter. CWM LLC raised its holdings in PTC Therapeutics by 354.7% during 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 during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of PTC Therapeutics by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company's stock worth $104,000 after acquiring an additional 492 shares in the last quarter. Quest Partners LLC bought a new position in shares of PTC Therapeutics in the second quarter valued at $128,000. Finally, Quarry LP grew its stake in shares of PTC Therapeutics by 100.0% in the second quarter. Quarry LP now owns 5,000 shares of the biopharmaceutical company's stock valued at $153,000 after buying an additional 2,500 shares in the last quarter.

PTC Therapeutics Trading Down 0.9 %

Shares of NASDAQ PTCT traded down $0.43 during trading hours on Wednesday, reaching $49.86. The stock had a trading volume of 941,516 shares, compared to its average volume of 856,180. The business's fifty day moving average price is $40.80 and its two-hundred day moving average price is $36.57. The firm has a market cap of $3.85 billion, a price-to-earnings ratio of -8.47 and a beta of 0.63. PTC Therapeutics has a 52-week low of $23.58 and a 52-week high of $54.16.

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.