PTC Therapeutics (NASDAQ:PTCT) Research Coverage Started at Raymond James

Raymond James started coverage on shares of PTC Therapeutics (NASDAQ:PTCT) in a research report released on Thursday, MarketBeat.com reports. The firm issued a market perform rating on the biopharmaceutical company’s stock.

Several other analysts have also weighed in on PTCT. Royal Bank of Canada lifted their price objective on shares of PTC Therapeutics from $32.00 to $34.00 and gave the company a sector perform rating in a research note on Friday, October 4th. Robert W. Baird restated an outperform rating and set a $44.00 price target on shares of PTC Therapeutics in a research note on Tuesday, October 8th. JPMorgan Chase & Co. restated an overweight rating and set a $53.00 price target on shares of PTC Therapeutics in a research note on Thursday, June 20th. Baird R W upgraded shares of PTC Therapeutics to a strong-buy rating in a research note on Wednesday, September 4th. Finally, Bank of America boosted their price target on shares of PTC Therapeutics from $25.00 to $32.00 and gave the company an underperform rating in a research note on Friday, June 21st. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $40.08.

PTC Therapeutics Stock Up 1.3 %

NASDAQ:PTCT opened at $39.00 on Thursday. The company has a fifty day moving average of $34.59 and a 200-day moving average of $33.19. The firm has a market capitalization of $2.99 billion, a P/E ratio of -5.08 and a beta of 0.65. PTC Therapeutics has a twelve month low of $17.53 and a twelve month high of $41.81.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.16) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($0.16). The firm had revenue of $186.70 million for the quarter, compared to the consensus estimate of $192.12 million. On average, analysts anticipate that PTC Therapeutics will post -5.09 EPS for the current fiscal year.

Insider Transactions at PTC Therapeutics

In other news, CFO Pierre Gravier sold 2,269 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $34.02, for a total value of $77,191.38. Following the completion of the sale, the chief financial officer now owns 53,531 shares in the company, valued at $1,821,124.62. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On PTC Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its holdings in shares of PTC Therapeutics by 4.0% in the 4th quarter. Wellington Management Group LLP now owns 9,816,603 shares of the biopharmaceutical company’s stock worth $270,546,000 after buying an additional 380,415 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of PTC Therapeutics by 6.5% in the 1st quarter. Vanguard Group Inc. now owns 9,369,014 shares of the biopharmaceutical company’s stock worth $272,545,000 after buying an additional 568,171 shares during the last quarter. Armistice Capital LLC boosted its holdings in shares of PTC Therapeutics by 2.9% in the 2nd 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 during the last quarter. Cowen AND Company LLC boosted its holdings 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 worth $114,873,000 after buying an additional 30,843 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of PTC Therapeutics by 40.5% in the 1st quarter. Janus Henderson Group PLC now owns 3,669,816 shares of the biopharmaceutical company’s stock worth $106,744,000 after buying an additional 1,057,223 shares during the last quarter.

About PTC Therapeutics

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.