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

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) have received an average recommendation of “Hold” from the fifteen research firms that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $40.08.

Several analysts have recently issued reports on the stock. Morgan Stanley lifted their target price on shares of PTC Therapeutics from $32.00 to $45.00 and gave the company an “equal weight” rating in a research report on Friday, October 11th. Robert W. Baird reiterated an “outperform” rating and issued a $44.00 price objective on shares of PTC Therapeutics in a report on Tuesday, October 8th. Royal Bank of Canada increased their target price on PTC Therapeutics from $32.00 to $34.00 and gave the company a “sector perform” rating in a report on Friday, October 4th. Raymond James assumed coverage on PTC Therapeutics in a research report on Thursday, October 10th. They issued a “market perform” rating on the stock. Finally, Barclays boosted their price target on PTC Therapeutics from $25.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th.

PTC Therapeutics Trading Down 1.7 %

Shares of PTCT stock opened at $38.44 on Tuesday. PTC Therapeutics has a 12-month low of $17.53 and a 12-month high of $41.81. The business’s 50 day moving average is $35.35 and its two-hundred day moving average is $33.61. The company has a market capitalization of $2.95 billion, a P/E ratio of -5.01 and a beta of 0.65.

PTC Therapeutics (NASDAQ:PTCT) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.16). The firm had revenue of $186.70 million during the quarter, compared to analysts’ expectations of $192.12 million. On average, research analysts predict that PTC Therapeutics will post -5.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PTC Therapeutics

A number of institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. increased its holdings in shares of PTC Therapeutics by 57.9% during the 1st quarter. Russell Investments Group Ltd. now owns 301,790 shares of the biopharmaceutical company’s stock worth $8,779,000 after buying an additional 110,670 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in PTC Therapeutics by 8.7% in the first 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 purchasing an additional 35,173 shares during the period. Edgestream Partners L.P. lifted its stake in shares of PTC Therapeutics by 49.3% in the 1st quarter. Edgestream Partners L.P. now owns 53,522 shares of the biopharmaceutical company’s stock valued at $1,557,000 after purchasing an additional 17,681 shares during the last quarter. Burney Co. purchased a new position in shares of PTC Therapeutics during the 1st quarter worth $1,223,000. Finally, Assenagon Asset Management S.A. increased its position in shares of PTC Therapeutics by 21.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 372,827 shares of the biopharmaceutical company’s stock worth $11,401,000 after purchasing an additional 66,596 shares during the last quarter.

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.