PTC Therapeutics (NASDAQ:PTCT) Shares Down 3.4% - Should You Sell?

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) fell 3.4% during mid-day trading on Friday . The company traded as low as $43.53 and last traded at $43.57. 30,044 shares were traded during mid-day trading, a decline of 96% from the average session volume of 840,922 shares. The stock had previously closed at $45.11.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PTCT shares. JPMorgan Chase & Co. raised their target price on PTC Therapeutics from $51.00 to $62.00 and gave the company an "overweight" rating in a report on Tuesday, November 19th. Baird R W upgraded shares of PTC Therapeutics to a "strong-buy" rating in a research note on Wednesday, September 4th. Morgan Stanley upped 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. Royal Bank of Canada lifted their price target on shares of PTC Therapeutics from $32.00 to $34.00 and gave the stock a "sector perform" rating in a research note on Friday, October 4th. Finally, Wells Fargo & Company upped their price objective on shares of PTC Therapeutics from $56.00 to $68.00 and gave the company an "overweight" rating in a research report on Tuesday. Three research analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $44.69.

PTC Therapeutics Price Performance

The company has a fifty day moving average of $40.22 and a two-hundred day moving average of $36.30. The stock has a market capitalization of $3.38 billion, a P/E ratio of -7.39 and a beta of 0.63.

Hedge Funds Weigh In On PTC Therapeutics

A number of hedge funds have recently added to or reduced their stakes in PTCT. KBC Group NV boosted its stake in PTC Therapeutics by 29.2% in the third 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 during the period. CWM LLC grew its stake 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 last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in 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 buying an additional 492 shares during the period. Quest Partners LLC bought a new stake in PTC Therapeutics in the second quarter valued at $128,000. Finally, Quarry LP boosted its holdings in shares of 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 period.

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.