PTC Therapeutics (NASDAQ:PTCT) Stock Price Expected to Rise, Robert W. Baird Analyst Says

PTC Therapeutics (NASDAQ:PTCT) had its target price raised by analysts at Robert W. Baird from $48.00 to $52.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the biopharmaceutical company’s stock. Robert W. Baird’s price objective suggests a potential upside of 13.02% from the company’s current price.

PTCT has been the subject of several other research reports. Royal Bank of Canada upped their price target on PTC Therapeutics from $32.00 to $34.00 and gave the stock a “sector perform” rating in a report on Friday, October 4th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $64.00 target price on shares of PTC Therapeutics in a report on Tuesday, September 17th. UBS Group assumed coverage on shares of PTC Therapeutics in a research report on Monday, August 26th. They set a “buy” rating and a $47.00 price target on the stock. Baird R W raised shares of PTC Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 4th. Finally, Barclays upped their target price on PTC Therapeutics from $31.00 to $43.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $44.69.

PTC Therapeutics Price Performance

PTCT opened at $46.01 on Wednesday. The firm has a market capitalization of $3.55 billion, a PE ratio of -7.75 and a beta of 0.63. PTC Therapeutics has a fifty-two week low of $20.75 and a fifty-two week high of $47.24. The company’s 50-day moving average is $39.70 and its 200 day moving average is $36.06.

Institutional Investors Weigh In On PTC Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. KBC Group NV raised its position in shares of PTC Therapeutics by 29.2% during the 3rd quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock valued at $83,000 after buying an additional 504 shares in the last quarter. CWM LLC increased its position in PTC Therapeutics by 354.7% during the 3rd quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company’s stock valued at $100,000 after purchasing an additional 2,096 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in PTC Therapeutics by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock worth $104,000 after buying an additional 492 shares in the last quarter. Quest Partners LLC purchased a new position in shares of PTC Therapeutics in the 2nd quarter valued at approximately $128,000. Finally, Quarry LP boosted its holdings 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 valued at $153,000 after buying an additional 2,500 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.