The PTC Therapeutics, Inc. (PTCT) Receives Average Recommendation of “Hold” from Brokerages

The PTC Therapeutics, Inc. (PTCT) Receives Average Recommendation of “Hold” from Brokerages

PTC Therapeutics, Inc. (NASDAQ:PTCT) has been assigned an average rating of “Hold” from the twelve research firms that are presently covering the stock. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $15.78.

A number of equities research analysts have weighed in on PTCT shares. Zacks Investment Research upgraded shares of PTC Therapeutics from a “sell” rating to a “buy” rating and set a $6.25 target price for the company in a research note on Tuesday, November 8th. Citigroup Inc upgraded shares of PTC Therapeutics from a “neutral” rating to a “buy” rating and boosted their target price for the company from $7.00 to $15.00 in a research note on Friday, November 11th. Royal Bank of Canada decreased their target price on shares of PTC Therapeutics to $13.00 and set a “sector perform” rating for the company in a research note on Friday, November 11th. RBC Capital Markets boosted their target price on shares of PTC Therapeutics to $13.00 and gave the company a “hold” rating in a research note on Friday, November 11th. Finally, Wedbush reiterated a “neutral” rating and set a $7.00 target price (down from $12.00) on shares of PTC Therapeutics in a research note on Friday, November 11th.

Large investors have recently bought and sold shares of the company. Sectoral Asset Management Inc raised its stake in PTC Therapeutics by 20.2% in the third quarter. Sectoral Asset Management Inc now owns 779,998 shares of the biopharmaceutical company’s stock valued at $10,928,000 after buying an additional 131,022 shares during the period. Columbus Circle Investors bought a new stake in PTC Therapeutics during the third quarter valued at approximately $557,000. Asymmetry Capital Management L.P. raised its stake in PTC Therapeutics by 85.1% in the third quarter. Asymmetry Capital Management L.P. now owns 567,683 shares of the biopharmaceutical company’s stock valued at $7,953,000 after buying an additional 261,033 shares during the period. Canada Pension Plan Investment Board bought a new stake in PTC Therapeutics during the third quarter valued at approximately $140,000. Finally, BlackRock Inc. raised its stake in PTC Therapeutics by 0.7% in the third quarter. BlackRock Inc. now owns 58,239 shares of the biopharmaceutical company’s stock valued at $816,000 after buying an additional 433 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

PTC Therapeutics (NASDAQ:PTCT) traded up 4.69% during midday trading on Monday, reaching $10.27. The company had a trading volume of 2,075,906 shares. The company’s market capitalization is $350.87 million. PTC Therapeutics has a 52 week low of $4.03 and a 52 week high of $16.50. The firm has a 50-day moving average price of $13.31 and a 200-day moving average price of $11.05.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc is a biopharmaceutical company focused on the discovery, development and commercialization of orally administered, small molecule therapeutics that focus on post-transcriptional control processes. The Company’s lead product, Translarna (ataluren), is used for the treatment of nonsense mutation Duchenne muscular dystrophy (nmDMD) in ambulatory patients with age of over five years and older.

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