PTC Therapeutics (NASDAQ:PTCT) Upgraded to Strong-Buy at Baird R W

Baird R W upgraded shares of PTC Therapeutics (NASDAQ:PTCT) to a strong-buy rating in a research report report published on Wednesday morning, Zacks.com reports.

Several other research analysts have also weighed in on the stock. The Goldman Sachs Group upped their target price on shares of PTC Therapeutics from $18.00 to $32.00 and gave the stock a sell rating in a research report on Tuesday, May 28th. Bank of America upped their target price on PTC Therapeutics from $25.00 to $32.00 and gave the company an underperform rating in a report on Friday, June 21st. Citigroup lifted their price target on PTC Therapeutics from $18.00 to $26.00 and gave the stock a sell rating in a research note on Tuesday, May 21st. Jefferies Financial Group increased their price objective on shares of PTC Therapeutics from $35.00 to $46.00 and gave the company a buy rating in a research note on Monday, May 20th. Finally, Barclays lifted their target price on shares of PTC Therapeutics from $25.00 to $31.00 and gave the stock an equal weight rating in a research report on Friday, August 9th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PTC Therapeutics currently has a consensus rating of Hold and an average price target of $37.13.

PTC Therapeutics Price Performance

NASDAQ:PTCT opened at $31.54 on Wednesday. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of -4.11 and a beta of 0.64. The firm’s fifty day moving average price is $32.95 and its 200 day moving average price is $32.02. PTC Therapeutics has a 1-year low of $17.53 and a 1-year high of $41.93.

PTC Therapeutics (NASDAQ:PTCT) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.16) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($0.16). The firm had revenue of $186.70 million for the quarter, compared to analyst estimates of $192.12 million. As a group, analysts expect that PTC Therapeutics will post -5.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In other PTC Therapeutics news, CFO Pierre Gravier sold 2,269 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $34.02, for a total value of $77,191.38. Following the sale, the chief financial officer now directly owns 53,531 shares of the company’s stock, valued at approximately $1,821,124.62. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 5.50% of the stock is currently owned by company insiders.

Institutional Trading of PTC Therapeutics

Several institutional investors have recently made changes to their positions in PTCT. Choreo LLC grew its holdings in shares of PTC Therapeutics by 4.1% during the 2nd 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 period. Arizona State Retirement System grew its holdings in shares of PTC Therapeutics by 3.4% during the 2nd quarter. Arizona State Retirement System now owns 19,301 shares of the biopharmaceutical company’s stock worth $590,000 after purchasing an additional 636 shares during the period. Diversified Trust Co grew its holdings in shares of PTC Therapeutics by 5.6% during the 2nd quarter. Diversified Trust Co now owns 15,317 shares of the biopharmaceutical company’s stock worth $468,000 after purchasing an additional 818 shares during the period. ProShare Advisors LLC grew its holdings in shares of PTC Therapeutics by 9.3% during the 1st quarter. ProShare Advisors LLC now owns 18,313 shares of the biopharmaceutical company’s stock worth $533,000 after purchasing an additional 1,564 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of PTC Therapeutics during the 1st quarter worth about $46,000.

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.