Equities research analysts at SunTrust Banks initiated coverage on shares of PTC Therapeutics (NASDAQ:PTCT) in a research report issued to clients and investors on Tuesday, The Fly reports. The brokerage set a “buy” rating and a $78.00 price target on the biopharmaceutical company’s stock. SunTrust Banks’ price objective would indicate a potential upside of 89.09% from the stock’s current price.
Several other brokerages have also recently commented on PTCT. Royal Bank of Canada reissued a “buy” rating on shares of PTC Therapeutics in a research note on Tuesday, September 24th. Barclays reissued a “hold” rating and issued a $43.00 price target on shares of PTC Therapeutics in a research note on Monday, August 12th. Citigroup reduced their target price on PTC Therapeutics from $62.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. TheStreet upgraded PTC Therapeutics from a “d” rating to a “c-” rating in a report on Tuesday, October 29th. Finally, ValuEngine upgraded PTC Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $53.50.
Shares of NASDAQ PTCT traded down $0.05 during trading hours on Tuesday, hitting $41.25. The stock had a trading volume of 2,814 shares, compared to its average volume of 725,706. The company has a market capitalization of $2.54 billion, a P/E ratio of -22.45 and a beta of 1.88. The firm’s 50-day moving average price is $37.25 and its two-hundred day moving average price is $41.15. PTC Therapeutics has a 52 week low of $27.53 and a 52 week high of $48.81. The company has a debt-to-equity ratio of 0.44, a quick ratio of 4.30 and a current ratio of 4.40.
Several hedge funds have recently modified their holdings of the company. Sector Gamma AS raised its stake in shares of PTC Therapeutics by 17.8% in the second quarter. Sector Gamma AS now owns 229,498 shares of the biopharmaceutical company’s stock valued at $10,327,000 after purchasing an additional 34,755 shares in the last quarter. Aperio Group LLC acquired a new position in shares of PTC Therapeutics in the second quarter valued at $168,000. Emerald Advisers LLC raised its stake in shares of PTC Therapeutics by 29.6% in the second quarter. Emerald Advisers LLC now owns 388,010 shares of the biopharmaceutical company’s stock valued at $17,460,000 after purchasing an additional 88,579 shares in the last quarter. RMB Capital Management LLC acquired a new position in shares of PTC Therapeutics in the second quarter valued at $1,423,000. Finally, Axon Capital LP raised its stake in shares of PTC Therapeutics by 30.4% in the second quarter. Axon Capital LP now owns 216,200 shares of the biopharmaceutical company’s stock valued at $9,729,000 after purchasing an additional 50,400 shares in the last quarter. Institutional investors own 93.65% of the company’s stock.
About PTC Therapeutics
PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines for the treatment of rare disorders. The company offers Translarna (ataluren) and Emflaza (deflazacort) for the treatment of nonsense mutation Duchenne muscular dystrophy in ambulatory patients.
Featured Article: What does an inverted yield curve signify?
Receive News & Ratings for PTC Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PTC Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.