PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) shares hit a new 52-week high on Thursday . The stock traded as high as $44.56 and last traded at $43.74, with a volume of 51311 shares. The stock had previously closed at $43.18.
Analyst Ratings Changes
PTCT has been the subject of several analyst reports. Morgan Stanley raised their target price on shares of PTC Therapeutics from $32.00 to $45.00 and gave the company an "equal weight" rating in a research note on Friday, October 11th. UBS Group initiated coverage on shares of PTC Therapeutics in a research note on Monday, August 26th. They issued a "buy" rating and a $47.00 target price for the company. Cantor Fitzgerald reissued an "overweight" rating and issued a $64.00 target price on shares of PTC Therapeutics in a research note on Tuesday, September 17th. Royal Bank of Canada raised their target price on shares of PTC Therapeutics from $32.00 to $34.00 and gave the company a "sector perform" rating in a research note on Friday, October 4th. Finally, Robert W. Baird reissued an "outperform" rating and issued a $44.00 target price on shares of PTC Therapeutics in a research note on Tuesday, October 8th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, PTC Therapeutics currently has an average rating of "Hold" and an average price target of $40.08.
View Our Latest Research Report on PTCT
PTC Therapeutics Stock Down 0.5 %
The company has a market cap of $3.30 billion, a price-to-earnings ratio of -6.81 and a beta of 0.63. The stock has a fifty day moving average price of $37.23 and a two-hundred day moving average price of $34.86.
PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.16) earnings per share for the quarter, missing analysts' consensus estimates of ($1.00) by ($0.16). The firm had revenue of $186.70 million during the quarter, compared to the consensus estimate of $192.12 million. Analysts predict that PTC Therapeutics, Inc. will post -5.28 earnings per share for the current fiscal year.
Institutional Investors Weigh In On PTC Therapeutics
A number of hedge funds and other institutional investors have recently modified their holdings of PTCT. Russell Investments Group Ltd. raised its stake in PTC Therapeutics by 57.9% in the first quarter. Russell Investments Group Ltd. now owns 301,790 shares of the biopharmaceutical company's stock valued at $8,779,000 after purchasing an additional 110,670 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in PTC Therapeutics by 8.7% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 439,365 shares of the biopharmaceutical company's stock valued at $12,782,000 after purchasing an additional 35,173 shares in the last quarter. Edgestream Partners L.P. raised its stake in PTC Therapeutics by 49.3% in the first quarter. Edgestream Partners L.P. now owns 53,522 shares of the biopharmaceutical company's stock valued at $1,557,000 after purchasing an additional 17,681 shares in the last quarter. Burney Co. acquired a new position in PTC Therapeutics in the first quarter valued at about $1,223,000. Finally, Assenagon Asset Management S.A. raised its stake in PTC Therapeutics by 21.7% in the second quarter. Assenagon Asset Management S.A. now owns 372,827 shares of the biopharmaceutical company's stock valued at $11,401,000 after purchasing an additional 66,596 shares in 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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