PTC Therapeutics (NASDAQ:PTCT) Cut to Hold at StockNews.com

StockNews.com cut shares of PTC Therapeutics (NASDAQ:PTCT - Free Report) from a buy rating to a hold rating in a research report report published on Tuesday morning.

Several other research analysts have also commented on PTCT. Morgan Stanley boosted their price objective on PTC Therapeutics from $32.00 to $45.00 and gave the stock an "equal weight" rating in a report on Friday, October 11th. Royal Bank of Canada increased their price target on shares of PTC Therapeutics from $32.00 to $34.00 and gave the stock a "sector perform" rating in a report on Friday, October 4th. Barclays raised their price objective on shares of PTC Therapeutics from $31.00 to $43.00 and gave the company an "equal weight" rating in a research report on Monday, November 11th. Raymond James began coverage on shares of PTC Therapeutics in a research report on Thursday, October 10th. They issued a "market perform" rating for the company. Finally, Robert W. Baird raised their price target on PTC Therapeutics from $44.00 to $48.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $42.00.

PTC Therapeutics Trading Up 0.3 %

Shares of PTCT stock traded up $0.13 during trading hours on Tuesday, reaching $39.36. The stock had a trading volume of 817,074 shares, compared to its average volume of 845,146. The stock's fifty day simple moving average is $38.56 and its 200 day simple moving average is $35.60. The firm has a market capitalization of $3.04 billion, a PE ratio of -6.66 and a beta of 0.63. PTC Therapeutics has a 12 month low of $20.50 and a 12 month high of $46.98.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new stake in PTC Therapeutics during the first quarter worth about $46,000. KBC Group NV grew its stake 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 buying an additional 504 shares during the last quarter. CWM LLC increased 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 valued at $100,000 after buying an additional 2,096 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in PTC Therapeutics by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company's stock valued at $104,000 after buying an additional 492 shares during the last quarter. Finally, Quest Partners LLC bought a new stake in PTC Therapeutics in the second quarter worth $128,000.

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.