PTC Therapeutics’ (PTCT) Outperform Rating Reiterated at Robert W. Baird

PTC Therapeutics (NASDAQ:PTCT)‘s stock had its “outperform” rating reiterated by investment analysts at Robert W. Baird in a report released on Tuesday, Benzinga reports. They presently have a $44.00 target price on the biopharmaceutical company’s stock. Robert W. Baird’s price objective indicates a potential upside of 7.19% from the stock’s previous close.

A number of other analysts have also recently issued reports on the company. Barclays upped 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. Bank of America upped their target price on PTC Therapeutics from $25.00 to $32.00 and gave the company an “underperform” rating in a research report on Friday, June 21st. UBS Group assumed coverage on PTC Therapeutics in a research report on Monday, August 26th. They issued a “buy” rating and a $47.00 target price for the company. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $53.00 target price on shares of PTC Therapeutics in a research report on Thursday, June 20th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $64.00 target price on shares of PTC Therapeutics in a research report on Tuesday, September 17th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $39.08.

PTC Therapeutics Price Performance

Shares of PTCT traded up $6.06 during mid-day trading on Tuesday, reaching $41.05. The company’s stock had a trading volume of 1,406,876 shares, compared to its average volume of 851,905. PTC Therapeutics has a 12-month low of $17.53 and a 12-month high of $41.38. The stock has a market cap of $3.16 billion, a PE ratio of -5.35 and a beta of 0.65. The company’s 50 day moving average is $34.06 and its 200 day moving average is $32.92.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings data 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 analyst estimates of $192.12 million. As a group, sell-side analysts anticipate that PTC Therapeutics will post -5.09 EPS for the current fiscal year.

Insider Activity

In other news, CFO Pierre Gravier sold 2,269 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $34.02, for a total value of $77,191.38. Following the completion of the sale, the chief financial officer now directly owns 53,531 shares of the company’s stock, valued at $1,821,124.62. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 5.50% of the company’s stock.

Institutional Trading of PTC Therapeutics

Several hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC purchased a new position in PTC Therapeutics in the 1st quarter valued at approximately $46,000. Quest Partners LLC purchased a new position in PTC Therapeutics in the 2nd quarter valued at approximately $128,000. Quarry LP increased its stake in PTC Therapeutics by 100.0% in the 2nd 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. Lazard Asset Management LLC increased its stake in PTC Therapeutics by 268.9% in the 1st quarter. Lazard Asset Management LLC now owns 6,504 shares of the biopharmaceutical company’s stock valued at $188,000 after purchasing an additional 4,741 shares in the last quarter. Finally, Headlands Technologies LLC increased its stake in PTC Therapeutics by 83.2% in the 2nd quarter. Headlands Technologies LLC now owns 6,611 shares of the biopharmaceutical company’s stock valued at $202,000 after purchasing an additional 3,002 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.