PTC Therapeutics (NASDAQ:PTCT) Stock Price Expected to Rise, Robert W. Baird Analyst Says

PTC Therapeutics (NASDAQ:PTCT) had its price target upped by equities researchers at Robert W. Baird from $52.00 to $70.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the biopharmaceutical company’s stock. Robert W. Baird’s target price indicates a potential upside of 34.43% from the company’s previous close.

PTCT has been the topic of several other reports. Raymond James assumed coverage on shares of PTC Therapeutics in a research report on Thursday, October 10th. They issued a “market perform” rating on the stock. Wells Fargo & Company upped their target price on PTC Therapeutics from $56.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Cantor Fitzgerald restated an “overweight” rating and issued a $64.00 target price on shares of PTC Therapeutics in a research note on Tuesday, September 17th. Morgan Stanley lifted their target price on PTC Therapeutics from $32.00 to $45.00 and gave the stock an “equal weight” rating in a report on Friday, October 11th. Finally, Barclays upped their target price on PTC Therapeutics from $31.00 to $43.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $51.15.

PTC Therapeutics Trading Up 18.7 %

PTCT stock traded up $8.19 during midday trading on Tuesday, reaching $52.07. The company had a trading volume of 3,542,300 shares, 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 1 year low of $23.58 and a 1 year high of $52.97. The company has a 50 day moving average of $40.52 and a two-hundred day moving average of $36.45.

Institutional Investors Weigh In On PTC Therapeutics

Several large investors have recently made changes to their positions in PTCT. KBC Group NV raised its position in shares of PTC Therapeutics by 29.2% during the third quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock worth $83,000 after purchasing an additional 504 shares during the period. CWM LLC increased its position in shares of PTC Therapeutics by 354.7% in the third quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company’s stock worth $100,000 after acquiring an additional 2,096 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of PTC Therapeutics by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock worth $104,000 after buying an additional 492 shares during the last quarter. Quest Partners LLC acquired a new position in PTC Therapeutics during the 2nd quarter valued at about $128,000. Finally, Quarry LP boosted its holdings in shares of PTC Therapeutics by 100.0% in the second quarter. Quarry LP now owns 5,000 shares of the biopharmaceutical company’s stock worth $153,000 after buying an additional 2,500 shares during the period.

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.