Analysts Set PTC Therapeutics, Inc. (NASDAQ:PTCT) Price Target at $56.63
Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) have earned an average rating of “Buy” from the thirteen research firms that are covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $56.63.
A number of equities analysts recently weighed in on the stock. Credit Suisse Group reissued a “buy” rating and issued a $54.00 price target on shares of PTC Therapeutics in a report on Thursday, October 31st. Royal Bank of Canada restated an “outperform” rating and set a $58.00 price target on shares of PTC Therapeutics in a research report on Thursday. Citigroup set a $62.00 price objective on shares of PTC Therapeutics and gave the stock a “buy” rating in a report on Thursday, September 26th. TheStreet raised shares of PTC Therapeutics from a “d” rating to a “c-” rating in a research report on Tuesday, October 29th. Finally, Barclays reiterated a “hold” rating and issued a $43.00 target price on shares of PTC Therapeutics in a research note on Monday, August 12th.
PTCT stock opened at $49.20 on Friday. The stock’s fifty day simple moving average is $42.36 and its two-hundred day simple moving average is $42.01. The company has a current ratio of 4.40, a quick ratio of 4.30 and a debt-to-equity ratio of 0.44. PTC Therapeutics has a 1-year low of $27.53 and a 1-year high of $50.96. The stock has a market cap of $3.03 billion, a P/E ratio of -26.74 and a beta of 1.90.
In other PTC Therapeutics news, CEO Stuart Walter Peltz sold 22,463 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $49.43, for a total value of $1,110,346.09. Company insiders own 7.00% of the company’s stock.
Large investors have recently modified their holdings of the business. Quantamental Technologies LLC purchased a new position in shares of PTC Therapeutics in the second quarter worth about $49,000. Meeder Asset Management Inc. raised its position in shares of PTC Therapeutics by 2,347.9% in the third quarter. Meeder Asset Management Inc. now owns 1,738 shares of the biopharmaceutical company’s stock valued at $60,000 after purchasing an additional 1,667 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of PTC Therapeutics by 15.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,596 shares of the biopharmaceutical company’s stock valued at $122,000 after purchasing an additional 474 shares during the period. Aperio Group LLC purchased a new stake in shares of PTC Therapeutics during the 2nd quarter valued at approximately $168,000. Finally, Tower Research Capital LLC TRC purchased a new stake in shares of PTC Therapeutics during the 3rd quarter valued at approximately $130,000. Hedge funds and other institutional investors own 99.31% of the company’s stock.
About PTC Therapeutics
PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines for the treatment of rare disorders. The company offers Translarna (ataluren) and Emflaza (deflazacort) for the treatment of nonsense mutation Duchenne muscular dystrophy in ambulatory patients.
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