Recent Investment Analysts’ Ratings Updates for PTC Therapeutics (PTCT)

PTC Therapeutics (NASDAQ: PTCT) has recently received a number of price target changes and ratings updates:

• 10/11/2024 – PTC Therapeutics had its price target raised by analysts at Morgan Stanley from $32.00 to $45.00. They now have an “equal weight” rating on the stock.
• 10/10/2024 – PTC Therapeutics is now covered by analysts at Raymond James. They set a “market perform” rating on the stock.
• 10/8/2024 – PTC Therapeutics had its “outperform” rating reaffirmed by analysts at Robert W. Baird. They now have a $44.00 price target on the stock.
• 10/4/2024 – PTC Therapeutics had its price target raised by analysts at Royal Bank of Canada from $32.00 to $34.00. They now have a “sector perform” rating on the stock.
• 9/17/2024 – PTC Therapeutics had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $64.00 price target on the stock.
• 9/4/2024 – PTC Therapeutics was upgraded by analysts at Baird R W to a “strong-buy” rating.
• 9/4/2024 – PTC Therapeutics is now covered by analysts at Robert W. Baird. They set an “outperform” rating and a $44.00 price target on the stock.
• 8/26/2024 – PTC Therapeutics is now covered by analysts at UBS Group AG. They set a “buy” rating and a $47.00 price target on the stock.

PTC Therapeutics Trading Down 3.3 %

PTCT stock traded down $1.30 during mid-day trading on Monday, hitting $37.80. The stock had a trading volume of 159,599 shares, compared to its average volume of 852,087. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of -4.92 and a beta of 0.65. PTC Therapeutics, Inc. has a 1-year low of $17.53 and a 1-year high of $41.81. The company has a fifty day moving average of $35.21 and a 200 day moving average of $33.54.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.16) EPS for the quarter, missing the consensus estimate of ($1.00) by ($0.16). The firm had revenue of $186.70 million for the quarter, compared to the consensus estimate of $192.12 million. As a group, sell-side analysts expect that PTC Therapeutics, Inc. will post -5.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PTC Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PTCT. Allspring Global Investments Holdings LLC bought a new stake in shares of PTC Therapeutics in the first quarter valued at approximately $46,000. CWM LLC boosted its stake in PTC Therapeutics by 354.7% during the third quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company’s stock worth $100,000 after buying an additional 2,096 shares in the last quarter. Quest Partners LLC bought a new stake in PTC Therapeutics in the 2nd quarter valued at $128,000. Quarry LP raised its stake in shares of PTC Therapeutics by 100.0% in 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. Finally, Lazard Asset Management LLC lifted its holdings in shares of PTC Therapeutics by 268.9% during the 1st quarter. Lazard Asset Management LLC now owns 6,504 shares of the biopharmaceutical company’s stock worth $188,000 after acquiring an additional 4,741 shares during the period.

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.