PTC Therapeutics (NASDAQ:PTCT) Price Target Raised to $52.00 at Robert W. Baird

PTC Therapeutics (NASDAQ:PTCT) had its price objective lifted by equities research analysts at Robert W. Baird from $48.00 to $52.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the biopharmaceutical company’s stock. Robert W. Baird’s target price suggests a potential upside of 15.27% from the company’s current price.

Other research analysts have also issued research reports about the company. Morgan Stanley increased their price target on PTC Therapeutics from $32.00 to $45.00 and gave the stock an “equal weight” rating in a report on Friday, October 11th. Raymond James initiated coverage on shares of PTC Therapeutics in a research report on Thursday, October 10th. They issued a “market perform” rating for the company. Wells Fargo & Company upped their price objective on shares of PTC Therapeutics from $56.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday. UBS Group assumed coverage on shares of PTC Therapeutics in a report on Monday, August 26th. They set a “buy” rating and a $47.00 price objective for the company. Finally, Royal Bank of Canada upped their target price on shares of PTC Therapeutics from $32.00 to $34.00 and gave the stock a “sector perform” rating in a report on Friday, October 4th. 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $44.69.

PTC Therapeutics Price Performance

PTCT stock opened at $45.11 on Wednesday. The company’s 50-day moving average is $40.07 and its 200-day moving average is $36.18. The stock has a market capitalization of $3.48 billion, a PE ratio of -7.59 and a beta of 0.63. PTC Therapeutics has a 1 year low of $21.10 and a 1 year high of $47.24.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Choreo LLC raised its stake in shares of PTC Therapeutics by 4.1% during the 2nd 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 period. Mirae Asset Global Investments Co. Ltd. raised its position in PTC Therapeutics by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock worth $104,000 after acquiring an additional 492 shares during the period. KBC Group NV boosted its stake in PTC Therapeutics by 29.2% in the third 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 boosted its stake in PTC Therapeutics by 3.4% in the second 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 worth $406,000 after purchasing 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.