PTC Therapeutics, Inc. (NASDAQ:PTCT – Get Free Report) hit a new 52-week high on Friday after JPMorgan Chase & Co. raised their price target on the stock from $72.00 to $78.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. PTC Therapeutics traded as high as $55.65 and last traded at $55.13, with a volume of 286870 shares. The stock had previously closed at $52.76.
Several other equities research analysts also recently commented on the stock. The Goldman Sachs Group lifted their price objective on shares of PTC Therapeutics from $32.00 to $42.00 and gave the stock a “sell” rating in a research note on Wednesday, December 4th. Citigroup increased their price target on PTC Therapeutics from $32.00 to $45.00 and gave the stock a “sell” rating in a research report on Wednesday, February 12th. StockNews.com downgraded shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Robert W. Baird upped their price target on shares of PTC Therapeutics from $52.00 to $70.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Cantor Fitzgerald boosted their price objective on PTC Therapeutics from $76.00 to $113.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.00.
View Our Latest Analysis on PTCT
Insider Activity
Hedge Funds Weigh In On PTC Therapeutics
A number of large investors have recently bought and sold shares of PTCT. State of New Jersey Common Pension Fund D grew its stake in shares of PTC Therapeutics by 7.0% during the third quarter. State of New Jersey Common Pension Fund D now owns 56,820 shares of the biopharmaceutical company’s stock valued at $2,108,000 after acquiring an additional 3,727 shares in the last quarter. Los Angeles Capital Management LLC boosted its holdings in shares of PTC Therapeutics by 40.0% during the third quarter. Los Angeles Capital Management LLC now owns 15,130 shares of the biopharmaceutical company’s stock valued at $561,000 after acquiring an additional 4,325 shares during the period. KBC Group NV lifted its position in PTC Therapeutics by 29.2% in the 3rd quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock valued at $83,000 after purchasing an additional 504 shares during the last quarter. Thrivent Financial for Lutherans acquired a new position in PTC Therapeutics during the 3rd quarter valued at about $1,450,000. Finally, Quest Partners LLC grew its position in PTC Therapeutics by 433.9% in the 3rd quarter. Quest Partners LLC now owns 22,359 shares of the biopharmaceutical company’s stock worth $830,000 after purchasing an additional 18,171 shares during the last quarter.
PTC Therapeutics Price Performance
The company has a market cap of $4.36 billion, a P/E ratio of -9.28 and a beta of 0.66. The stock has a fifty day moving average price of $48.44 and a two-hundred day moving average price of $43.37.
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.
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