PTC Therapeutics (NASDAQ:PTCT) Price Target Raised to $68.00 at Wells Fargo & Company

PTC Therapeutics (NASDAQ:PTCT - Free Report) had its price objective hoisted by Wells Fargo & Company from $56.00 to $68.00 in a report published on Tuesday morning,Benzinga reports. They currently have an overweight rating on the biopharmaceutical company's stock.

Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. boosted their price target on shares of PTC Therapeutics from $51.00 to $62.00 and gave the company an "overweight" rating in a report on Tuesday, November 19th. Royal Bank of Canada increased their price objective on PTC Therapeutics from $32.00 to $34.00 and gave the company a "sector perform" rating in a report on Friday, October 4th. Raymond James assumed coverage on shares of PTC Therapeutics in a research report on Thursday, October 10th. They set a "market perform" rating for the company. Barclays upped their target price 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. Finally, UBS Group initiated coverage on PTC Therapeutics in a research report on Monday, August 26th. They issued a "buy" rating and a $47.00 target price for the company. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, PTC Therapeutics has a consensus rating of "Hold" and an average target price of $44.38.

PTC Therapeutics Stock Performance

Shares of PTC Therapeutics stock traded up $3.62 on Tuesday, reaching $46.61. 844,592 shares of the company were exchanged, compared to its average volume of 841,684. PTC Therapeutics has a 1-year low of $20.75 and a 1-year high of $47.24. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of -7.74 and a beta of 0.63. The company's 50-day moving average is $39.48 and its two-hundred day moving average is $35.96.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PTCT. KBC Group NV increased its stake in shares of 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 buying an additional 504 shares in the last quarter. CWM LLC increased its stake in shares of PTC Therapeutics by 354.7% in the third 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. increased 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 valued at $104,000 after buying an additional 492 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of PTC Therapeutics in the second quarter valued at $128,000. Finally, Quarry LP increased its stake in shares of PTC Therapeutics by 100.0% in the second quarter. Quarry LP now owns 5,000 shares of the biopharmaceutical company's stock valued at $153,000 after buying an additional 2,500 shares in the last quarter.

About PTC Therapeutics

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.