PTC Therapeutics (NASDAQ:PTCT) Stock Rating Upgraded by Baird R W

PTC Therapeutics (NASDAQ:PTCT) was upgraded by Baird R W to a “strong-buy” rating in a research report issued on Wednesday, Zacks.com reports.

A number of other research firms also recently commented on PTCT. Barclays increased their target price on PTC Therapeutics from $25.00 to $31.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Jefferies Financial Group raised their price target on PTC Therapeutics from $35.00 to $46.00 and gave the stock a “buy” rating in a research report on Monday, May 20th. UBS Group began coverage on PTC Therapeutics in a research report on Monday, August 26th. They issued a “buy” rating and a $47.00 price target for the company. Robert W. Baird began coverage on PTC Therapeutics in a research report on Wednesday. They issued an “outperform” rating and a $44.00 price target for the company. Finally, Citigroup raised their price target on PTC Therapeutics from $18.00 to $26.00 and gave the stock a “sell” rating in a research report on Tuesday, May 21st. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $37.13.

PTC Therapeutics Price Performance

Shares of PTCT opened at $31.60 on Wednesday. PTC Therapeutics has a 1 year low of $17.53 and a 1 year high of $41.93. The company has a 50 day simple moving average of $32.99 and a two-hundred day simple moving average of $31.98. The firm has a market cap of $2.43 billion, a P/E ratio of -4.11 and a beta of 0.64.

PTC Therapeutics (NASDAQ:PTCT) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.16) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.16). The firm had revenue of $186.70 million during the quarter, compared to analysts’ expectations of $192.12 million. On average, sell-side analysts anticipate that PTC Therapeutics will post -5.09 earnings per share for the current year.

Insider Buying and Selling at PTC Therapeutics

In other PTC Therapeutics news, CFO Pierre Gravier sold 2,269 shares of PTC Therapeutics stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $34.02, for a total value of $77,191.38. Following the transaction, the chief financial officer now owns 53,531 shares in the company, valued at $1,821,124.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.50% of the stock is owned by insiders.

Institutional Investors Weigh In On PTC Therapeutics

A number of large investors have recently modified their holdings of PTCT. Allspring Global Investments Holdings LLC purchased a new stake in shares of PTC Therapeutics during the first quarter worth about $46,000. Quest Partners LLC purchased a new stake in shares of PTC Therapeutics during the second quarter worth about $128,000. Quarry LP grew its stake in shares of PTC Therapeutics by 100.0% during the second quarter. Quarry LP now owns 5,000 shares of the biopharmaceutical company’s stock worth $153,000 after acquiring an additional 2,500 shares during the last quarter. Lazard Asset Management LLC grew its stake in shares of PTC Therapeutics by 268.9% during the first quarter. Lazard Asset Management LLC now owns 6,504 shares of the biopharmaceutical company’s stock worth $188,000 after acquiring an additional 4,741 shares during the last quarter. Finally, Headlands Technologies LLC grew its stake in shares of PTC Therapeutics by 83.2% during the second quarter. Headlands Technologies LLC now owns 6,611 shares of the biopharmaceutical company’s stock worth $202,000 after acquiring an additional 3,002 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.