Robert W. Baird Increases PTC Therapeutics (NASDAQ:PTCT) Price Target to $52.00

PTC Therapeutics (NASDAQ:PTCT) had its price target hoisted by research analysts at Robert W. Baird from $48.00 to $52.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the biopharmaceutical company’s stock. Robert W. Baird’s price target points to a potential upside of 15.27% from the company’s previous close.

Several other brokerages have also issued reports on PTCT. StockNews.com lowered PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th. Baird R W raised PTC Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. Cantor Fitzgerald restated an “overweight” rating and issued a $64.00 price target on shares of PTC Therapeutics in a research note on Tuesday, September 17th. Barclays lifted their price target on shares of PTC Therapeutics from $31.00 to $43.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Finally, Raymond James started coverage on shares of PTC Therapeutics in a research report on Thursday, October 10th. They issued a “market perform” rating on the stock. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $44.69.

PTC Therapeutics Stock Down 2.0 %

PTCT stock opened at $45.11 on Wednesday. The company’s 50-day moving average price is $40.07 and its two-hundred day moving average price is $36.18. PTC Therapeutics has a 12 month low of $21.10 and a 12 month high of $47.24. The firm has a market cap of $3.48 billion, a P/E ratio of -7.59 and a beta of 0.63.

Institutional Trading of PTC Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Choreo LLC increased its position in shares of PTC Therapeutics by 4.1% during the second quarter. Choreo LLC now owns 11,426 shares of the biopharmaceutical company’s stock worth $356,000 after buying an additional 452 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in PTC Therapeutics by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock worth $104,000 after acquiring an additional 492 shares during the period. KBC Group NV grew its holdings in PTC Therapeutics by 29.2% during the 3rd quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock worth $83,000 after acquiring an additional 504 shares during the period. Arizona State Retirement System raised its position in shares of PTC Therapeutics by 3.4% in the 2nd quarter. Arizona State Retirement System now owns 19,301 shares of the biopharmaceutical company’s stock worth $590,000 after acquiring an additional 636 shares in the last quarter. Finally, Creative Planning lifted its stake in shares of PTC Therapeutics by 8.1% in the 3rd quarter. Creative Planning now owns 10,944 shares of the biopharmaceutical company’s stock valued at $406,000 after purchasing an additional 816 shares during the period.

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.