PTC Therapeutics, Inc. (NASDAQ:PTCT) Receives Consensus Recommendation of “Hold” from Analysts

PTC Therapeutics, Inc. (NASDAQ:PTCT) has been assigned a consensus rating of “Hold” from the fifteen research firms that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $51.15.

PTCT has been the subject of several analyst reports. StockNews.com downgraded PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, November 19th. Wells Fargo & Company lifted their price objective on PTC Therapeutics from $56.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Raymond James began coverage on shares of PTC Therapeutics in a report on Thursday, October 10th. They issued a “market perform” rating on the stock. Morgan Stanley lifted their price target on shares of PTC Therapeutics from $32.00 to $45.00 and gave the company an “equal weight” rating in a report on Friday, October 11th. Finally, JPMorgan Chase & Co. boosted their price target on shares of PTC Therapeutics from $51.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th.

PTC Therapeutics Trading Down 3.4 %

NASDAQ PTCT opened at $50.29 on Wednesday. PTC Therapeutics has a 1-year low of $23.58 and a 1-year high of $54.16. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of -8.47 and a beta of 0.63. The stock’s 50 day moving average is $40.80 and its two-hundred day moving average is $36.57.

Institutional Trading of PTC Therapeutics

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