PTC Therapeutics (NASDAQ:PTCT) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of PTC Therapeutics (NASDAQ:PTCT) from a hold rating to a buy rating in a research report released on Monday.

Other research analysts also recently issued reports about the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $64.00 price objective on shares of PTC Therapeutics in a report on Tuesday, September 17th. Royal Bank of Canada raised their price target on PTC Therapeutics from $32.00 to $34.00 and gave the stock a “sector perform” rating in a report on Friday, October 4th. Morgan Stanley boosted their price objective on PTC Therapeutics from $32.00 to $45.00 and gave the company an “equal weight” rating in a research note on Friday, October 11th. Raymond James started coverage on PTC Therapeutics in a research note on Thursday, October 10th. They issued a “market perform” rating for the company. Finally, Barclays upped their price target on PTC Therapeutics from $31.00 to $43.00 and gave the company an “equal weight” rating in a research report on Monday. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $41.31.

PTC Therapeutics Trading Down 3.7 %

Shares of NASDAQ:PTCT opened at $42.38 on Monday. The company has a 50-day moving average price of $38.03 and a two-hundred day moving average price of $35.43. PTC Therapeutics has a twelve month low of $19.75 and a twelve month high of $46.98.

Institutional Trading of PTC Therapeutics

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