PTC Therapeutics (NASDAQ:PTCT) Given New $48.00 Price Target at Robert W. Baird

PTC Therapeutics (NASDAQ:PTCT) had its price objective upped by Robert W. Baird from $44.00 to $48.00 in a research report report published on Friday morning,Benzinga reports. They currently have an outperform rating on the biopharmaceutical company’s stock.

Several other equities analysts have also commented on PTCT. Raymond James started coverage on shares of PTC Therapeutics in a report on Thursday, October 10th. They issued a “market perform” rating on the stock. Royal Bank of Canada increased their target price on shares of PTC Therapeutics from $32.00 to $34.00 and gave the stock a “sector perform” rating in a report on Friday, October 4th. Barclays increased their target price on shares of PTC Therapeutics from $25.00 to $31.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Morgan Stanley increased their target price 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. Finally, UBS Group began coverage on shares of PTC Therapeutics in a report on Monday, August 26th. They set a “buy” rating and a $47.00 target price on the stock. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $40.38.

PTC Therapeutics Price Performance

NASDAQ PTCT traded up $1.32 during trading hours on Friday, hitting $44.28. 1,019,356 shares of the company’s stock traded hands, compared to its average volume of 846,980. PTC Therapeutics has a 52-week low of $18.15 and a 52-week high of $46.55. The company has a market capitalization of $3.41 billion, a PE ratio of -7.45 and a beta of 0.63. The firm’s 50-day moving average is $37.41 and its 200-day moving average is $34.99.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($0.16). The company had revenue of $186.70 million for the quarter, compared to the consensus estimate of $192.12 million. Equities research analysts predict that PTC Therapeutics will post -5.28 earnings per share for the current fiscal year.

Institutional Trading of PTC Therapeutics

Hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its stake in shares of PTC Therapeutics by 57.9% in the 1st quarter. Russell Investments Group Ltd. now owns 301,790 shares of the biopharmaceutical company’s stock worth $8,779,000 after acquiring an additional 110,670 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in PTC Therapeutics by 8.7% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 439,365 shares of the biopharmaceutical company’s stock worth $12,782,000 after acquiring an additional 35,173 shares during the last quarter. Edgestream Partners L.P. raised its position in PTC Therapeutics by 49.3% during the first quarter. Edgestream Partners L.P. now owns 53,522 shares of the biopharmaceutical company’s stock worth $1,557,000 after acquiring an additional 17,681 shares during the last quarter. Burney Co. acquired a new position in PTC Therapeutics during the first quarter worth about $1,223,000. Finally, Assenagon Asset Management S.A. raised its position in PTC Therapeutics by 21.7% during the second quarter. Assenagon Asset Management S.A. now owns 372,827 shares of the biopharmaceutical company’s stock worth $11,401,000 after acquiring an additional 66,596 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.