Robert W. Baird Issues Positive Forecast for PTC Therapeutics (NASDAQ:PTCT) Stock Price

PTC Therapeutics (NASDAQ:PTCT) had its target price raised by Robert W. Baird from $44.00 to $48.00 in a report published on Friday,Benzinga reports. Robert W. Baird currently has an outperform rating on the biopharmaceutical company’s stock.

Several other brokerages also recently issued reports on PTCT. Raymond James assumed coverage on shares of PTC Therapeutics in a research note on Thursday, October 10th. They issued a “market perform” rating for the company. Royal Bank of Canada lifted their price target 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. Baird R W raised shares of PTC Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. Morgan Stanley lifted their price target 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. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $64.00 price target on shares of PTC Therapeutics in a research note on Tuesday, September 17th. Three analysts have rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, PTC Therapeutics has an average rating of “Hold” and an average price target of $40.38.

PTC Therapeutics Trading Up 3.1 %

Shares of NASDAQ:PTCT traded up $1.32 during trading on Friday, reaching $44.28. The company’s stock had a trading volume of 1,019,356 shares, compared to its average volume of 846,980. The stock has a market capitalization of $3.41 billion, a PE ratio of -7.45 and a beta of 0.63. PTC Therapeutics has a 12 month low of $18.15 and a 12 month high of $46.55. The firm’s 50 day simple moving average is $37.41 and its two-hundred day simple moving average is $34.99.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($0.16). The business had revenue of $186.70 million for the quarter, compared to analyst estimates of $192.12 million. Research analysts anticipate that PTC Therapeutics will post -5.28 EPS for the current fiscal year.

Hedge Funds Weigh In On PTC Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Choreo LLC grew its holdings in PTC Therapeutics by 4.1% in the second quarter. Choreo LLC now owns 11,426 shares of the biopharmaceutical company’s stock worth $356,000 after purchasing an additional 452 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of 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 worth $104,000 after buying an additional 492 shares during the period. KBC Group NV lifted its stake in shares of PTC Therapeutics by 29.2% during the third 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 period. Arizona State Retirement System lifted its stake in shares of PTC Therapeutics by 3.4% during the second quarter. Arizona State Retirement System now owns 19,301 shares of the biopharmaceutical company’s stock worth $590,000 after buying an additional 636 shares during the period. Finally, Creative Planning lifted its stake in shares of PTC Therapeutics by 8.1% during the third quarter. Creative Planning now owns 10,944 shares of the biopharmaceutical company’s stock worth $406,000 after buying an additional 816 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.