J P Morgan Chase & Co upgraded shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) from an underweight rating to a neutral rating in a report issued on Thursday. J P Morgan Chase & Co currently has $15.00 target price on the biopharmaceutical company’s stock.

PTCT has been the topic of a number of other research reports. Cowen and Company reissued a hold rating on shares of PTC Therapeutics in a research note on Wednesday, October 25th. Citigroup Inc. reissued a buy rating and issued a $28.00 price target on shares of PTC Therapeutics in a research note on Wednesday, September 27th. ValuEngine cut shares of PTC Therapeutics from a hold rating to a sell rating in a research note on Thursday, September 7th. Barclays PLC reissued a hold rating and issued a $22.00 price target on shares of PTC Therapeutics in a research note on Friday, September 8th. Finally, Zacks Investment Research cut shares of PTC Therapeutics from a buy rating to a hold rating in a research note on Wednesday, October 11th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $18.75.

PTC Therapeutics (PTCT) traded up $0.09 during trading on Thursday, reaching $15.97. 1,090,000 shares of the company were exchanged, compared to its average volume of 1,120,000. PTC Therapeutics has a 1 year low of $8.12 and a 1 year high of $22.00. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.97 and a current ratio of 3.08.

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Institutional investors and hedge funds have recently made changes to their positions in the business. Northern Trust Corp boosted its stake in PTC Therapeutics by 8.5% during the 2nd quarter. Northern Trust Corp now owns 615,096 shares of the biopharmaceutical company’s stock worth $11,275,000 after purchasing an additional 48,308 shares during the last quarter. Alps Advisors Inc. boosted its stake in PTC Therapeutics by 5.6% during the 2nd quarter. Alps Advisors Inc. now owns 31,191 shares of the biopharmaceutical company’s stock worth $572,000 after purchasing an additional 1,667 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in PTC Therapeutics by 75.1% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 42,593 shares of the biopharmaceutical company’s stock worth $781,000 after purchasing an additional 18,273 shares during the last quarter. New York State Common Retirement Fund boosted its stake in PTC Therapeutics by 56.3% during the 2nd quarter. New York State Common Retirement Fund now owns 50,650 shares of the biopharmaceutical company’s stock worth $928,000 after purchasing an additional 18,249 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in PTC Therapeutics by 17.2% during the 2nd quarter. Vanguard Group Inc. now owns 2,366,564 shares of the biopharmaceutical company’s stock worth $43,379,000 after purchasing an additional 346,525 shares during the last quarter. 78.53% of the stock is currently owned by institutional investors.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the discovery, development and commercialization of medicines using its expertise in ribonucleic acid (RNA) biology. Its product pipeline includes Ataluren (Translarna), PTC596 and RG7916. Its product candidate, ataluren, is an orally administered small-molecule compound for the treatment of patients with genetic disorders due to a nonsense mutation.

Analyst Recommendations for PTC Therapeutics (NASDAQ:PTCT)

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