PTC Therapeutics (NASDAQ:PTCT - Get Free Report) had its price objective raised by equities research analysts at Robert W. Baird from $48.00 to $52.00 in a report released on Wednesday,Benzinga reports. The firm presently has an "outperform" rating on the biopharmaceutical company's stock. Robert W. Baird's price target points to a potential upside of 13.02% from the stock's current price.
A number of other brokerages have also recently issued reports on PTCT. Wells Fargo & Company boosted their price objective on shares of PTC Therapeutics from $56.00 to $68.00 and gave the company an "overweight" rating in a report on Tuesday. Royal Bank of Canada boosted their target price on PTC Therapeutics from $32.00 to $34.00 and gave the company a "sector perform" rating in a research note on Friday, October 4th. Raymond James began coverage on PTC Therapeutics in a report on Thursday, October 10th. They issued a "market perform" rating for the company. StockNews.com downgraded shares of PTC Therapeutics from a "buy" rating to a "hold" rating in a report on Tuesday, November 19th. Finally, Barclays upped their price objective on PTC Therapeutics from $31.00 to $43.00 and gave the company an "equal weight" rating in a research note on Monday, November 11th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $44.69.
View Our Latest Research Report on PTCT
PTC Therapeutics Stock Performance
PTCT opened at $46.01 on Wednesday. The company has a fifty day moving average price of $39.70 and a two-hundred day moving average price of $36.06. The firm has a market capitalization of $3.55 billion, a PE ratio of -7.75 and a beta of 0.63. PTC Therapeutics has a 52 week low of $20.75 and a 52 week high of $47.24.
Institutional Investors Weigh In On PTC Therapeutics
Large investors have recently added to or reduced their stakes in the stock. KBC Group NV boosted 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 valued at $83,000 after purchasing an additional 504 shares in the last quarter. CWM LLC raised its position 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 purchasing an additional 2,096 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of PTC Therapeutics by 21.5% in the third 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 during the period. Quest Partners LLC acquired a new position in shares of PTC Therapeutics in the 2nd quarter worth approximately $128,000. Finally, Quarry LP boosted its position in PTC Therapeutics by 100.0% during the second quarter. Quarry LP now owns 5,000 shares of the biopharmaceutical company's stock valued at $153,000 after acquiring an additional 2,500 shares during the last quarter.
About PTC Therapeutics
(
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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