PTC Therapeutics (NASDAQ:PTCT) Rating Lowered to Hold at StockNews.com

StockNews.com cut shares of PTC Therapeutics (NASDAQ:PTCT) from a buy rating to a hold rating in a report issued on Tuesday.

PTCT has been the subject of a number of other research reports. Baird R W upgraded PTC Therapeutics to a “strong-buy” rating in a report on Wednesday, September 4th. Barclays boosted their price objective on PTC Therapeutics from $31.00 to $43.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Robert W. Baird boosted their price objective on PTC Therapeutics from $44.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. UBS Group assumed coverage on PTC Therapeutics in a research note on Monday, August 26th. They issued a “buy” rating and a $47.00 price target for the company. Finally, Raymond James assumed coverage on PTC Therapeutics in a research note on Thursday, October 10th. They issued a “market perform” rating for the company. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $42.00.

PTC Therapeutics Stock Performance

PTC Therapeutics stock opened at $43.23 on Tuesday. PTC Therapeutics has a 52 week low of $20.75 and a 52 week high of $46.98. The stock has a market capitalization of $3.33 billion, a P/E ratio of -7.22 and a beta of 0.63. The stock has a 50-day simple moving average of $39.11 and a 200 day simple moving average of $35.74.

Institutional Trading of PTC Therapeutics

A number of institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new position in shares of PTC Therapeutics during the 1st quarter worth about $46,000. ProShare Advisors LLC boosted its position in shares of PTC Therapeutics by 9.3% during the 1st quarter. ProShare Advisors LLC now owns 18,313 shares of the biopharmaceutical company’s stock worth $533,000 after purchasing an additional 1,564 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of PTC Therapeutics by 9.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 22,101 shares of the biopharmaceutical company’s stock worth $643,000 after purchasing an additional 1,890 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of PTC Therapeutics by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 9,369,014 shares of the biopharmaceutical company’s stock worth $272,545,000 after purchasing an additional 568,171 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of PTC Therapeutics during the 1st quarter worth about $3,302,000.

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.