UBS Group Issues Positive Forecast for PTC Therapeutics (NASDAQ:PTCT) Stock Price

PTC Therapeutics (NASDAQ:PTCTGet Free Report) had its price objective lifted by UBS Group from $47.00 to $71.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. UBS Group’s target price suggests a potential upside of 36.35% from the stock’s current price.

A number of other equities research analysts also recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on PTC Therapeutics from $51.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Robert W. Baird boosted their target price on PTC Therapeutics from $52.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday. Wells Fargo & Company increased their price target on PTC Therapeutics from $56.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Baird R W upgraded PTC Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. Finally, Royal Bank of Canada raised PTC Therapeutics from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $39.00 to $63.00 in a report on Tuesday. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, PTC Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $51.15.

View Our Latest Report on PTCT

PTC Therapeutics Stock Up 18.7 %

Shares of NASDAQ PTCT traded up $8.19 during trading hours on Tuesday, reaching $52.07. 3,542,300 shares of the stock traded hands, compared to its average volume of 725,012. The company has a market capitalization of $4.02 billion, a P/E ratio of -8.77 and a beta of 0.63. PTC Therapeutics has a 52-week low of $23.58 and a 52-week high of $52.97. The company’s 50-day simple moving average is $40.52 and its two-hundred day simple moving average is $36.45.

Institutional Investors Weigh In On PTC Therapeutics

Large investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its position in PTC Therapeutics by 0.6% during the third quarter. Geode Capital Management LLC now owns 1,798,666 shares of the biopharmaceutical company’s stock worth $66,743,000 after buying an additional 10,886 shares in the last quarter. Two Sigma Advisers LP raised its holdings in PTC Therapeutics by 10.3% in the 3rd quarter. Two Sigma Advisers LP now owns 429,842 shares of the biopharmaceutical company’s stock valued at $15,947,000 after acquiring an additional 40,300 shares during the period. Sphera Funds Management LTD. boosted its position in shares of PTC Therapeutics by 25.5% during the 3rd quarter. Sphera Funds Management LTD. now owns 118,345 shares of the biopharmaceutical company’s stock worth $4,391,000 after acquiring an additional 24,027 shares in the last quarter. State Street Corp boosted its position in PTC Therapeutics by 5.4% in the third quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company’s stock valued at $107,554,000 after buying an additional 149,700 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in PTC Therapeutics by 945.6% in the third quarter. Point72 Asset Management L.P. now owns 575,860 shares of the biopharmaceutical company’s stock valued at $21,364,000 after buying an additional 643,960 shares during the period.

PTC Therapeutics Company Profile

(Get Free Report)

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.

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