PTC Therapeutics (NASDAQ:PTCT) Downgraded by StockNews.com to “Hold”

StockNews.com downgraded shares of PTC Therapeutics (NASDAQ:PTCT) from a buy rating to a hold rating in a report released on Tuesday morning.

PTCT has been the subject of a number of other reports. Baird R W raised shares of PTC Therapeutics to a “strong-buy” rating in a report on Wednesday, September 4th. UBS Group started coverage on PTC Therapeutics in a research report on Monday, August 26th. They set a “buy” rating and a $47.00 price objective for the company. Raymond James began coverage on PTC Therapeutics in a research note on Thursday, October 10th. They issued a “market perform” rating on the stock. Barclays upped their price target on PTC Therapeutics from $31.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Finally, Morgan Stanley lifted their price objective on shares of PTC Therapeutics from $32.00 to $45.00 and gave the company an “equal weight” rating in a research report on Friday, October 11th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $42.00.

PTC Therapeutics Price Performance

PTCT stock opened at $39.36 on Tuesday. The company has a market cap of $3.04 billion, a price-to-earnings ratio of -6.66 and a beta of 0.63. The company has a fifty day moving average price of $38.56 and a 200 day moving average price of $35.60. PTC Therapeutics has a 12 month low of $20.50 and a 12 month high of $46.98.

Institutional Trading of PTC Therapeutics

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