PTC Therapeutics (NASDAQ:PTCT) Lowered to Hold Rating by StockNews.com

PTC Therapeutics (NASDAQ:PTCT) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

Several other equities analysts have also commented on PTCT. Cantor Fitzgerald reissued an “overweight” rating and set a $64.00 price objective on shares of PTC Therapeutics in a research report on Tuesday, September 17th. Baird R W raised shares of PTC Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. Morgan Stanley upped their price objective on shares of PTC Therapeutics from $32.00 to $45.00 and gave the stock an “equal weight” rating in a report on Friday, October 11th. Royal Bank of Canada lifted their target price on shares of PTC Therapeutics from $32.00 to $34.00 and gave the company a “sector perform” rating in a report on Friday, October 4th. Finally, Barclays upped their price target on PTC Therapeutics from $31.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $41.31.

PTC Therapeutics Stock Performance

Shares of NASDAQ:PTCT opened at $39.23 on Tuesday. The firm has a market capitalization of $3.03 billion, a P/E ratio of -6.60 and a beta of 0.63. The stock has a 50 day moving average price of $38.40 and a 200-day moving average price of $35.56. PTC Therapeutics has a 52-week low of $20.50 and a 52-week high of $46.98.

Institutional Trading of PTC Therapeutics

Large investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC purchased a new stake in PTC Therapeutics in the first quarter worth approximately $46,000. KBC Group NV lifted its holdings 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 valued at $83,000 after buying an additional 504 shares during the period. CWM LLC boosted its stake 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 worth $100,000 after buying an additional 2,096 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of PTC Therapeutics by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock worth $104,000 after acquiring an additional 492 shares during the period. Finally, Quest Partners LLC purchased a new stake in PTC Therapeutics during the second quarter valued at $128,000.

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.