PTC Therapeutics (NASDAQ:PTCT) Price Target Raised to $52.00

PTC Therapeutics (NASDAQ:PTCT) had its target price increased by Robert W. Baird from $48.00 to $52.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an outperform rating on the biopharmaceutical company’s stock.

Other analysts have also recently issued research reports about the stock. StockNews.com cut shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th. Barclays upped their target price on PTC Therapeutics from $31.00 to $43.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Wells Fargo & Company increased their target price on PTC Therapeutics from $56.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday. UBS Group assumed coverage on PTC Therapeutics in a report on Monday, August 26th. They set a “buy” rating and a $47.00 price target on the stock. Finally, Morgan Stanley raised their price objective on shares of PTC Therapeutics from $32.00 to $45.00 and gave the company an “equal weight” rating in a report on Friday, October 11th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, PTC Therapeutics presently has an average rating of “Hold” and a consensus target price of $44.69.

PTC Therapeutics Trading Down 2.0 %

PTCT opened at $45.11 on Wednesday. The company’s 50 day moving average is $39.89 and its 200-day moving average is $36.12. The company has a market cap of $3.48 billion, a P/E ratio of -7.59 and a beta of 0.63. PTC Therapeutics has a 1-year low of $21.10 and a 1-year high of $47.24.

Hedge Funds Weigh In On PTC Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its position in shares of PTC Therapeutics by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,798,666 shares of the biopharmaceutical company’s stock worth $66,743,000 after acquiring an additional 10,886 shares in the last quarter. Two Sigma Advisers LP boosted its position in shares of PTC Therapeutics by 10.3% during the 3rd quarter. Two Sigma Advisers LP now owns 429,842 shares of the biopharmaceutical company’s stock valued at $15,947,000 after purchasing an additional 40,300 shares in the last quarter. Sphera Funds Management LTD. increased its holdings in PTC Therapeutics by 25.5% in the third quarter. Sphera Funds Management LTD. now owns 118,345 shares of the biopharmaceutical company’s stock worth $4,391,000 after purchasing an additional 24,027 shares in the last quarter. State Street Corp increased its holdings in PTC Therapeutics by 5.4% in the third quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company’s stock worth $107,554,000 after purchasing an additional 149,700 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in PTC Therapeutics by 945.6% in the third quarter. Point72 Asset Management L.P. now owns 575,860 shares of the biopharmaceutical company’s stock valued at $21,364,000 after buying an additional 643,960 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.