PTC Therapeutics (NASDAQ:PTCT) Research Coverage Started at Raymond James

Raymond James started coverage on shares of PTC Therapeutics (NASDAQ:PTCT) in a research note published on Thursday, MarketBeat Ratings reports. The brokerage issued a market perform rating on the biopharmaceutical company’s stock.

A number of other equities analysts have also weighed in on PTCT. UBS Group initiated coverage on PTC Therapeutics in a research report on Monday, August 26th. They issued a buy rating and a $47.00 target price for the company. Cantor Fitzgerald restated an overweight rating and set a $64.00 price objective on shares of PTC Therapeutics in a research report on Tuesday, September 17th. Barclays lifted their target price on shares of PTC Therapeutics from $25.00 to $31.00 and gave the stock an equal weight rating in a research report on Friday, August 9th. Robert W. Baird reissued an outperform rating and set a $44.00 price target on shares of PTC Therapeutics in a report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. reaffirmed an overweight rating and issued a $53.00 price objective on shares of PTC Therapeutics in a report on Thursday, June 20th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $40.08.

PTC Therapeutics Stock Performance

Shares of NASDAQ PTCT opened at $39.00 on Thursday. The firm’s 50 day moving average price is $34.59 and its 200-day moving average price is $33.19. PTC Therapeutics has a 52-week low of $17.53 and a 52-week high of $41.81. The company has a market cap of $2.99 billion, a PE ratio of -5.08 and a beta of 0.65.

PTC Therapeutics (NASDAQ:PTCT) last issued its 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 business had revenue of $186.70 million during the quarter, compared to analyst estimates of $192.12 million. On average, analysts forecast that PTC Therapeutics will post -5.09 earnings per share for the current fiscal year.

Insider Activity at PTC Therapeutics

In other PTC Therapeutics news, CFO Pierre Gravier sold 2,269 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $34.02, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PTC Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of PTCT. Allspring Global Investments Holdings LLC bought a new position in shares of PTC Therapeutics in the first quarter worth about $46,000. CWM LLC boosted its stake in PTC Therapeutics by 354.7% in the 3rd quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company’s stock worth $100,000 after purchasing an additional 2,096 shares during the period. Quest Partners LLC purchased a new stake in PTC Therapeutics during the 2nd quarter valued at approximately $128,000. Quarry LP raised its position in shares of PTC Therapeutics by 100.0% during the second 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 during the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in shares of PTC Therapeutics by 268.9% in the first quarter. Lazard Asset Management LLC now owns 6,504 shares of the biopharmaceutical company’s stock worth $188,000 after buying an additional 4,741 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.