PTC Therapeutics (NASDAQ:PTCT) Price Target Raised to $62.00

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) had its price target lifted by equities researchers at JPMorgan Chase & Co. from $51.00 to $62.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the biopharmaceutical company's stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 57.52% from the company's current price.

Other equities analysts have also recently issued research reports about the company. Cantor Fitzgerald reiterated an "overweight" rating and issued a $64.00 price target on shares of PTC Therapeutics in a report on Tuesday, September 17th. Robert W. Baird lifted their price target on shares of PTC Therapeutics from $44.00 to $48.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. StockNews.com cut shares of PTC Therapeutics from a "buy" rating to a "hold" rating in a research note on Tuesday. Baird R W upgraded shares of PTC Therapeutics to a "strong-buy" rating in a research report on Wednesday, September 4th. Finally, Royal Bank of Canada raised their price target on PTC Therapeutics from $32.00 to $34.00 and gave the stock a "sector perform" rating in a research report on Friday, October 4th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $42.00.

PTC Therapeutics Stock Up 0.3 %

NASDAQ:PTCT traded up $0.13 during trading hours on Tuesday, hitting $39.36. 817,074 shares of the stock were exchanged, compared to its average volume of 845,146. The company has a market capitalization of $3.04 billion, a P/E ratio of -6.66 and a beta of 0.63. The company's 50 day moving average is $38.56 and its two-hundred day moving average is $35.60. PTC Therapeutics has a twelve month low of $20.50 and a twelve month high of $46.98.

Institutional Investors Weigh In On PTC Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC acquired a new stake in shares of PTC Therapeutics in the 1st quarter valued at about $46,000. KBC Group NV lifted its stake in 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 acquiring an additional 504 shares in the last quarter. CWM LLC lifted its stake in PTC Therapeutics by 354.7% in the 3rd quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company's stock valued at $100,000 after acquiring an additional 2,096 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in 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 during the last quarter. Finally, Quest Partners LLC bought a new position in shares of PTC Therapeutics during the 2nd quarter worth approximately $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.