PTC Therapeutics (NASDAQ:PTCT) Shares Gap Up – What’s Next?

PTC Therapeutics, Inc. (NASDAQ:PTCT) gapped up before the market opened on Monday . The stock had previously closed at $43.88, but opened at $52.08. PTC Therapeutics shares last traded at $49.78, with a volume of 928,434 shares trading hands.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on PTC Therapeutics from $51.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. Baird R W raised shares of PTC Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 4th. Wells Fargo & Company lifted their target price on shares of PTC Therapeutics from $56.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. StockNews.com cut shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th. Finally, Royal Bank of Canada upped their price objective on PTC Therapeutics from $32.00 to $34.00 and gave the company a “sector perform” rating in a report on Friday, October 4th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $44.69.

PTC Therapeutics Trading Up 15.9 %

The company has a fifty day simple moving average of $40.22 and a two-hundred day simple moving average of $36.32. The company has a market cap of $3.92 billion, a PE ratio of -8.58 and a beta of 0.63.

Institutional Investors Weigh In On PTC Therapeutics

A number of large investors have recently modified their holdings of the company. KBC Group NV lifted its position in shares of 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 purchasing an additional 504 shares during the last quarter. CWM LLC increased its holdings in shares of PTC Therapeutics by 354.7% in the 3rd 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. lifted its stake in PTC Therapeutics by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock worth $104,000 after purchasing an additional 492 shares during the last quarter. Quest Partners LLC purchased a new stake in PTC Therapeutics during the second quarter worth approximately $128,000. Finally, Quarry LP boosted its holdings in PTC Therapeutics by 100.0% in the second quarter. Quarry LP now owns 5,000 shares of the biopharmaceutical company’s stock valued at $153,000 after purchasing an additional 2,500 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.