PTC Therapeutics (NASDAQ:PTCT) Rating Lowered to Hold at StockNews.com

StockNews.com downgraded shares of PTC Therapeutics (NASDAQ:PTCT) from a buy rating to a hold rating in a report issued on Tuesday morning.

A number of other research firms have also recently weighed in on PTCT. Robert W. Baird raised their price target on PTC Therapeutics from $44.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Baird R W upgraded PTC Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 4th. UBS Group assumed coverage on PTC Therapeutics in a research report on Monday, August 26th. They issued a “buy” rating and a $47.00 price objective on the stock. 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, Morgan Stanley increased their price objective on PTC Therapeutics from $32.00 to $45.00 and gave the company an “equal weight” rating in a research report on Friday, October 11th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $42.00.

PTC Therapeutics Price Performance

PTCT stock opened at $43.23 on Tuesday. The business has a fifty day moving average price of $39.11 and a 200 day moving average price of $35.74. PTC Therapeutics has a fifty-two week low of $20.75 and a fifty-two week high of $46.98. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of -7.22 and a beta of 0.63.

Institutional Trading of PTC Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of PTC Therapeutics in the 1st quarter valued at about $46,000. KBC Group NV increased its position in shares of PTC Therapeutics by 29.2% in the third quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock valued at $83,000 after acquiring an additional 504 shares during the last quarter. CWM LLC increased its position in shares of PTC Therapeutics by 354.7% in the third quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company’s stock valued at $100,000 after acquiring an additional 2,096 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of PTC Therapeutics by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock valued at $104,000 after acquiring an additional 492 shares during the last quarter. Finally, Quest Partners LLC acquired a new stake in shares of PTC Therapeutics in the second quarter valued at about $128,000.

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.