PTC Therapeutics (NASDAQ:PTCT) Price Target Raised to $45.00

by · The Markets Daily

PTC Therapeutics (NASDAQ:PTCT – Get Free Report) had its price target hoisted by analysts at Morgan Stanley from $32.00 to $45.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the biopharmaceutical company’s stock. Morgan Stanley’s price target indicates a potential upside of 15.33% from the stock’s current price.

PTCT has been the topic of a number of other research reports. Royal Bank of Canada upped their target price on shares of PTC Therapeutics from $32.00 to $34.00 and gave the stock a “sector perform” rating in a report on Friday, October 4th. Robert W. Baird reaffirmed an “outperform” rating and set a $44.00 price objective on shares of PTC Therapeutics in a report on Tuesday. Baird R W raised PTC Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 4th. Barclays upped their price target on PTC Therapeutics from $25.00 to $31.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $53.00 price target on shares of PTC Therapeutics in a report on Thursday, June 20th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $40.08.

Check Out Our Latest Analysis on PTC Therapeutics

PTC Therapeutics Stock Performance

Shares of NASDAQ PTCT traded up $0.53 during trading on Friday, hitting $39.02. 228,321 shares of the company traded hands, compared to its average volume of 854,341. The business’s fifty day moving average is $34.46 and its 200 day moving average is $33.08. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of -6.19 and a beta of 0.65. PTC Therapeutics has a fifty-two week low of $17.53 and a fifty-two week high of $41.81.

PTC Therapeutics (NASDAQ:PTCT – Get Free Report) last announced its quarterly earnings results 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 during the quarter, compared to analyst estimates of $192.12 million. On average, analysts predict that PTC Therapeutics will post -5.09 EPS for the current year.

Insider Activity at PTC Therapeutics

In other PTC Therapeutics news, CFO Pierre Gravier sold 2,269 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $34.02, for a total value of $77,191.38. Following the completion of the transaction, the chief financial officer now owns 53,531 shares in the company, valued at $1,821,124.62. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 5.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PTC Therapeutics

A number of hedge funds have recently added to or reduced their stakes in PTCT. CWM LLC raised its position in shares of PTC Therapeutics by 354.7% in the third quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company’s stock valued at $100,000 after buying an additional 2,096 shares during the last quarter. Handelsbanken Fonder AB grew its holdings in shares of PTC Therapeutics by 11.3% during the third quarter. Handelsbanken Fonder AB now owns 24,700 shares of the biopharmaceutical company’s stock valued at $916,000 after purchasing an additional 2,500 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of PTC Therapeutics during the third quarter valued at $835,000. Quarry LP boosted its stake in shares of PTC Therapeutics by 100.0% during the 2nd quarter. Quarry LP now owns 5,000 shares of the biopharmaceutical company’s stock worth $153,000 after acquiring an additional 2,500 shares in the last quarter. Finally, Creative Planning grew its stake in PTC Therapeutics by 19.0% during the 2nd quarter. Creative Planning now owns 10,128 shares of the biopharmaceutical company’s stock valued at $310,000 after acquiring an additional 1,619 shares in the last quarter.

PTC Therapeutics Company Profile

(Get Free Report)

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.

Featured Stories