PTC Therapeutics (NASDAQ:PTCT) Rating Increased to Buy at StockNews.com

PTC Therapeutics (NASDAQ:PTCT) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.

A number of other brokerages have also issued reports on PTCT. Robert W. Baird increased their price target on PTC Therapeutics from $44.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday. Raymond James began coverage on PTC Therapeutics in a research note on Thursday, October 10th. They set a “market perform” rating for the company. UBS Group began coverage on PTC Therapeutics in a research note on Monday, August 26th. They set a “buy” rating and a $47.00 price target for the company. 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. Finally, Barclays increased their price target on PTC Therapeutics from $31.00 to $43.00 and gave the company an “equal weight” rating in a research note on Monday. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $41.31.

PTC Therapeutics Price Performance

PTCT stock traded up $0.59 on Monday, reaching $44.87. The company’s stock had a trading volume of 1,134,404 shares, compared to its average volume of 848,419. PTC Therapeutics has a 52 week low of $18.15 and a 52 week high of $46.98. The company has a market capitalization of $3.45 billion, a P/E ratio of -7.55 and a beta of 0.63. The firm has a fifty day moving average of $37.41 and a two-hundred day moving average of $35.12.

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

Institutional Trading of PTC Therapeutics

Hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. lifted its holdings in shares of PTC Therapeutics by 57.9% in the first quarter. Russell Investments Group Ltd. now owns 301,790 shares of the biopharmaceutical company’s stock valued at $8,779,000 after purchasing an additional 110,670 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of PTC Therapeutics by 8.7% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 439,365 shares of the biopharmaceutical company’s stock valued at $12,782,000 after purchasing an additional 35,173 shares in the last quarter. Edgestream Partners L.P. lifted its holdings in shares of PTC Therapeutics by 49.3% in the first quarter. Edgestream Partners L.P. now owns 53,522 shares of the biopharmaceutical company’s stock valued at $1,557,000 after purchasing an additional 17,681 shares in the last quarter. Burney Co. purchased a new stake in shares of PTC Therapeutics in the first quarter valued at $1,223,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of PTC Therapeutics by 21.7% in the second quarter. Assenagon Asset Management S.A. now owns 372,827 shares of the biopharmaceutical company’s stock valued at $11,401,000 after purchasing an additional 66,596 shares in the last quarter.

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.