PTC Therapeutics (NASDAQ:PTCT) Price Target Raised to $43.00

PTC Therapeutics (NASDAQ:PTCT) had its price target lifted by Barclays from $31.00 to $43.00 in a report published on Monday,Benzinga reports. Barclays currently has an equal weight rating on the biopharmaceutical company’s stock.

Other analysts also recently issued reports about the stock. Robert W. Baird boosted their target price on shares of PTC Therapeutics from $44.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Cantor Fitzgerald reiterated an “overweight” rating and set a $64.00 price target on shares of PTC Therapeutics in a report on Tuesday, September 17th. UBS Group assumed coverage on shares of PTC Therapeutics in a research report on Monday, August 26th. They issued a “buy” rating and a $47.00 price objective for the company. Morgan Stanley upped their price target on shares of PTC Therapeutics from $32.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Friday, October 11th. Finally, Raymond James started coverage on shares of PTC Therapeutics in a research note on Thursday, October 10th. They set a “market perform” rating for the company. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $41.31.

PTC Therapeutics Trading Down 3.7 %

Shares of PTC Therapeutics stock opened at $42.38 on Monday. PTC Therapeutics has a 1-year low of $19.75 and a 1-year high of $46.98. The company’s fifty day simple moving average is $38.03 and its 200-day simple moving average is $35.43.

Institutional Investors Weigh In On PTC Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Choreo LLC lifted its holdings in PTC Therapeutics by 4.1% in the 2nd quarter. Choreo LLC now owns 11,426 shares of the biopharmaceutical company’s stock valued at $356,000 after purchasing an additional 452 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of PTC Therapeutics by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock valued at $104,000 after acquiring an additional 492 shares during the last quarter. KBC Group NV increased its stake in shares of PTC Therapeutics by 29.2% during the 3rd quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock valued at $83,000 after acquiring an additional 504 shares during the last quarter. Arizona State Retirement System increased its stake in shares of PTC Therapeutics by 3.4% during the 2nd quarter. Arizona State Retirement System now owns 19,301 shares of the biopharmaceutical company’s stock valued at $590,000 after acquiring an additional 636 shares during the last quarter. Finally, Creative Planning increased its stake in shares of PTC Therapeutics by 8.1% during the 3rd quarter. Creative Planning now owns 10,944 shares of the biopharmaceutical company’s stock valued at $406,000 after acquiring an additional 816 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.