Barclays Issues Positive Forecast for PTC Therapeutics (NASDAQ:PTCT) Stock Price

PTC Therapeutics (NASDAQ:PTCT) had its price objective raised by research analysts at Barclays from $45.00 to $56.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the biopharmaceutical company’s stock. Barclays‘s price target would indicate a potential upside of 7.55% from the stock’s current price.

Several other research analysts have also issued reports on the company. Baird R W raised PTC Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 4th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $64.00 target price on shares of PTC Therapeutics in a report on Tuesday, September 17th. Raymond James began coverage on PTC Therapeutics in a report on Thursday, October 10th. They issued a “market perform” rating for the company. Morgan Stanley boosted their price target on PTC Therapeutics from $32.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Friday, October 11th. Finally, UBS Group initiated coverage on PTC Therapeutics in a report on Monday, August 26th. They issued a “buy” rating and a $47.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $51.15.

PTC Therapeutics Stock Up 18.7 %

Shares of PTCT stock traded up $8.19 during trading hours on Tuesday, hitting $52.07. 3,542,300 shares of the company’s stock traded hands, compared to its average volume of 725,012. The stock has a market cap of $4.02 billion, a PE ratio of -8.77 and a beta of 0.63. The stock’s 50 day simple moving average is $40.52 and its 200 day simple moving average is $36.45. PTC Therapeutics has a 12 month low of $23.58 and a 12 month high of $52.97.

Institutional Trading of PTC Therapeutics

A number of institutional investors have recently modified their holdings of PTCT. Harbor Capital Advisors Inc. boosted its position in PTC Therapeutics by 39.1% in the second quarter. Harbor Capital Advisors Inc. now owns 47,380 shares of the biopharmaceutical company’s stock worth $1,449,000 after purchasing an additional 13,326 shares during the last quarter. Diversified Trust Co lifted its position in PTC Therapeutics by 5.6% during the second quarter. Diversified Trust Co now owns 15,317 shares of the biopharmaceutical company’s stock valued at $468,000 after purchasing an additional 818 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in PTC Therapeutics by 21.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 372,827 shares of the biopharmaceutical company’s stock valued at $11,401,000 after buying an additional 66,596 shares in the last quarter. Neo Ivy Capital Management purchased a new position in shares of PTC Therapeutics in the 2nd quarter worth approximately $1,245,000. Finally, Sanibel Captiva Trust Company Inc. acquired a new position in shares of PTC Therapeutics in the 2nd quarter valued at $205,000.

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.