PTC Therapeutics (NASDAQ:PTCT) Earns Buy Rating from Analysts at UBS Group

UBS Group assumed coverage on shares of PTC Therapeutics (NASDAQ:PTCT) in a research report released on Monday, Marketbeat reports. The brokerage issued a buy rating and a $47.00 price target on the biopharmaceutical company’s stock.

PTCT has been the topic of a number of other research reports. Raymond James raised PTC Therapeutics from an underperform rating to a market perform rating in a research report on Monday, May 20th. Bank of America lifted their price target on PTC Therapeutics from $25.00 to $32.00 and gave the company an underperform rating in a research report on Friday, June 21st. The Goldman Sachs Group lifted their price target on PTC Therapeutics from $18.00 to $32.00 and gave the company a sell rating in a research report on Tuesday, May 28th. Morgan Stanley raised their price objective on PTC Therapeutics from $30.00 to $32.00 and gave the company an equal weight rating in a report on Friday, July 12th. Finally, Barclays raised their price objective on PTC Therapeutics from $25.00 to $31.00 and gave the company an equal weight rating in a report on Friday, August 9th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $36.64.

PTC Therapeutics Trading Up 1.0 %

PTCT opened at $35.53 on Monday. PTC Therapeutics has a 12-month low of $17.53 and a 12-month high of $41.93. The business’s fifty day simple moving average is $33.09 and its 200-day simple moving average is $31.68. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of -4.63 and a beta of 0.65.

Insider Activity at PTC Therapeutics

In related news, CFO Pierre Gravier sold 2,269 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $34.02, for a total value of $77,191.38. Following the sale, the chief financial officer now owns 53,531 shares in the company, valued at approximately $1,821,124.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On PTC Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. raised its holdings in shares of PTC Therapeutics by 57.9% in the 1st quarter. Russell Investments Group Ltd. now owns 301,790 shares of the biopharmaceutical company’s stock valued at $8,779,000 after buying an additional 110,670 shares during the period. Vise Technologies Inc. raised its holdings in shares of PTC Therapeutics by 20.1% in the 4th quarter. Vise Technologies Inc. now owns 12,808 shares of the biopharmaceutical company’s stock valued at $353,000 after buying an additional 2,140 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of PTC Therapeutics by 8.7% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 439,365 shares of the biopharmaceutical company’s stock valued at $12,782,000 after buying an additional 35,173 shares during the period. Edgestream Partners L.P. grew its stake in PTC Therapeutics by 49.3% during the 1st quarter. Edgestream Partners L.P. now owns 53,522 shares of the biopharmaceutical company’s stock worth $1,557,000 after purchasing an additional 17,681 shares in the last quarter. Finally, Burney Co. acquired a new position in PTC Therapeutics during the 1st quarter worth $1,223,000.

About PTC Therapeutics

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.