PTC Therapeutics (NASDAQ:PTCT) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

PTC Therapeutics (NASDAQ:PTCT) had its price objective lifted by equities research analysts at Wells Fargo & Company from $56.00 to $68.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 50.74% from the stock’s previous close.

PTCT has been the subject of several other research reports. Baird R W upgraded PTC Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. Robert W. Baird lifted their price target on shares of PTC Therapeutics from $44.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Morgan Stanley boosted their price target 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. Royal Bank of Canada raised their price objective on shares of PTC Therapeutics from $32.00 to $34.00 and gave the company a “sector perform” rating in a report on Friday, October 4th. Finally, StockNews.com cut shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, November 19th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, PTC Therapeutics has a consensus rating of “Hold” and an average price target of $44.69.

PTC Therapeutics Stock Down 2.0 %

NASDAQ:PTCT opened at $45.11 on Tuesday. PTC Therapeutics has a 52 week low of $21.10 and a 52 week high of $47.24. The stock’s fifty day moving average is $39.89 and its two-hundred day moving average is $36.12. The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of -7.59 and a beta of 0.63.

Institutional Trading of PTC Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Choreo LLC lifted its position in shares of PTC Therapeutics by 4.1% during the second quarter. Choreo LLC now owns 11,426 shares of the biopharmaceutical company’s stock worth $356,000 after purchasing an additional 452 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in PTC Therapeutics by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 492 shares in the last quarter. KBC Group NV lifted its holdings in PTC Therapeutics by 29.2% during the 3rd quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock worth $83,000 after buying an additional 504 shares during the last quarter. Arizona State Retirement System grew its position in shares of PTC Therapeutics by 3.4% in the 2nd quarter. Arizona State Retirement System now owns 19,301 shares of the biopharmaceutical company’s stock worth $590,000 after acquiring an additional 636 shares in the last quarter. Finally, Creative Planning increased its holdings in shares of PTC Therapeutics by 8.1% in 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.

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.