PTC Therapeutics, Inc. (NASDAQ:PTCT – Get Free Report) shares rose 6.2% during trading on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $51.00 to $62.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. PTC Therapeutics traded as high as $41.91 and last traded at $41.81. Approximately 198,635 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 842,283 shares. The stock had previously closed at $39.36.
PTCT has been the topic of several other reports. Royal Bank of Canada increased their price target on shares of PTC Therapeutics from $32.00 to $34.00 and gave the company a “sector perform” rating in a research note on Friday, October 4th. Morgan Stanley upped 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 note on Friday, October 11th. Baird R W raised PTC Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 4th. UBS Group initiated coverage on PTC Therapeutics in a research note on Monday, August 26th. They issued a “buy” rating and a $47.00 price objective for the company. Finally, StockNews.com lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday. Three analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, PTC Therapeutics has a consensus rating of “Hold” and an average target price of $42.00.
View Our Latest Stock Analysis on PTCT
Institutional Trading of PTC Therapeutics
PTC Therapeutics Price Performance
The firm has a 50-day simple moving average of $38.72 and a 200 day simple moving average of $35.65. The company has a market capitalization of $3.21 billion, a PE ratio of -6.59 and a beta of 0.63.
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.
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