PTC Therapeutics (NASDAQ:PTCT) Shares Up 4.5% – Should You Buy?

PTC Therapeutics, Inc. (NASDAQ:PTCT) shares rose 4.5% on Wednesday . The company traded as high as $41.08 and last traded at $41.08. Approximately 434,757 shares changed hands during trading, a decline of 49% from the average daily volume of 850,198 shares. The stock had previously closed at $39.32.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PTCT shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $64.00 price target on shares of PTC Therapeutics in a research note on Tuesday, September 17th. Robert W. Baird reiterated an “outperform” rating and issued a $44.00 target price on shares of PTC Therapeutics in a research note on Tuesday, October 8th. Royal Bank of Canada boosted their price target on PTC Therapeutics from $32.00 to $34.00 and gave the stock a “sector perform” rating in a research report on Friday, October 4th. Morgan Stanley upped their price objective on PTC Therapeutics from $32.00 to $45.00 and gave the company an “equal weight” rating in a research note on Friday, October 11th. Finally, UBS Group assumed coverage on PTC Therapeutics in a research note on Monday, August 26th. They set a “buy” rating and a $47.00 target price for the company. Three analysts have rated the stock with a sell rating, five have issued 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, the company has a consensus rating of “Hold” and a consensus price target of $40.08.

PTC Therapeutics Stock Performance

The stock’s fifty day moving average price is $35.50 and its two-hundred day moving average price is $33.70. The company has a market cap of $3.24 billion, a P/E ratio of -6.64 and a beta of 0.65.

PTC Therapeutics (NASDAQ:PTCT) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.16). The business had revenue of $186.70 million during the quarter, compared to analysts’ expectations of $192.12 million. On average, equities research analysts forecast that PTC Therapeutics, Inc. will post -5.17 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PTCT. Vanguard Group Inc. increased its position in PTC Therapeutics by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 9,369,014 shares of the biopharmaceutical company’s stock worth $272,545,000 after purchasing an additional 568,171 shares in the last quarter. Armistice Capital LLC increased its holdings in shares of PTC Therapeutics by 2.9% during the second quarter. Armistice Capital LLC now owns 6,962,227 shares of the biopharmaceutical company’s stock worth $212,905,000 after buying an additional 198,227 shares in the last quarter. Cowen AND Company LLC lifted its stake in shares of PTC Therapeutics by 0.8% in the 2nd quarter. Cowen AND Company LLC now owns 3,756,469 shares of the biopharmaceutical company’s stock valued at $114,873,000 after acquiring an additional 30,843 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of PTC Therapeutics by 40.5% during the 1st quarter. Janus Henderson Group PLC now owns 3,669,816 shares of the biopharmaceutical company’s stock valued at $106,744,000 after acquiring an additional 1,057,223 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in PTC Therapeutics by 21.3% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,605,841 shares of the biopharmaceutical company’s stock worth $46,714,000 after acquiring an additional 282,422 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.