PTC Therapeutics (NASDAQ:PTCT) Stock Price Up 4.5% – Should You Buy?

PTC Therapeutics, Inc. (NASDAQ:PTCT) rose 4.5% during trading on Wednesday . The stock traded as high as $41.08 and last traded at $41.08. Approximately 434,757 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 850,198 shares. The stock had previously closed at $39.32.

Wall Street Analyst Weigh In

PTCT has been the subject of several analyst reports. Morgan Stanley raised their target price on PTC Therapeutics from $32.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Friday, October 11th. Baird R W raised PTC Therapeutics to a “strong-buy” rating in a report on Wednesday, September 4th. Robert W. Baird reissued an “outperform” rating and set a $44.00 price objective on shares of PTC Therapeutics in a report on Tuesday, October 8th. Cantor Fitzgerald reissued an “overweight” rating and set a $64.00 price objective on shares of PTC Therapeutics in a report on Tuesday, September 17th. Finally, Royal Bank of Canada raised their price objective on PTC Therapeutics from $32.00 to $34.00 and gave the company a “sector perform” rating in a report on Friday, October 4th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, PTC Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $40.08.

PTC Therapeutics Stock Performance

The stock has a market capitalization of $3.13 billion, a P/E ratio of -6.58 and a beta of 0.65. The stock has a 50-day moving average price of $35.88 and a two-hundred day moving average price of $33.81.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.16). The firm had revenue of $186.70 million during the quarter, compared to analysts’ expectations of $192.12 million. Equities analysts anticipate that PTC Therapeutics, Inc. will post -5.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PTC Therapeutics

A number of large investors have recently made changes to their positions in the business. Choreo LLC boosted 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 valued at $356,000 after purchasing an additional 452 shares in 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 during the last quarter. Arizona State Retirement System raised its stake in PTC Therapeutics by 3.4% during the second quarter. Arizona State Retirement System now owns 19,301 shares of the biopharmaceutical company’s stock valued at $590,000 after buying an additional 636 shares during the last quarter. Creative Planning raised its stake in PTC Therapeutics by 8.1% during the third quarter. Creative Planning now owns 10,944 shares of the biopharmaceutical company’s stock valued at $406,000 after buying an additional 816 shares during the last quarter. Finally, Diversified Trust Co raised its stake in PTC Therapeutics by 5.6% during the second quarter. Diversified Trust Co now owns 15,317 shares of the biopharmaceutical company’s stock valued at $468,000 after buying an additional 818 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.