PTC Therapeutics (NASDAQ:PTCT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The brokerage currently has a $19.00 price objective on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 5.50% from the company’s current price.

According to Zacks, “PTC Therapeutics, Inc. is a biopharmaceutical company. It is focused on the discovery and development of orally administered, small-molecule drugs for genetic disorders, oncology and infectious disease. PTC Therapeutics, Inc. is based in South Plainfield, United States. “

Several other equities research analysts have also commented on the stock. ValuEngine lowered shares of PTC Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, September 7th. JPMorgan Chase & Co. boosted their price objective on shares of PTC Therapeutics to $15.00 and gave the stock a “neutral” rating in a research note on Friday, November 24th. Bank of America lowered shares of PTC Therapeutics from a “neutral” rating to an “underperform” rating in a research note on Thursday, October 26th. Cowen restated a “hold” rating on shares of PTC Therapeutics in a research note on Wednesday, October 25th. Finally, Royal Bank of Canada set a $15.00 price target on shares of PTC Therapeutics and gave the company a “hold” rating in a research note on Wednesday, October 25th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. PTC Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $18.25.

PTC Therapeutics (NASDAQ:PTCT) traded up $0.55 during trading on Thursday, reaching $18.01. 968,900 shares of the company’s stock traded hands, compared to its average volume of 858,000. The stock has a market cap of $724.41, a PE ratio of -6.23 and a beta of 1.23. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.97 and a current ratio of 3.08. PTC Therapeutics has a 12 month low of $8.12 and a 12 month high of $22.00.

A number of hedge funds and other institutional investors have recently made changes to their positions in PTCT. Schwab Charles Investment Management Inc. lifted its holdings in PTC Therapeutics by 22.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 154,429 shares of the biopharmaceutical company’s stock valued at $2,831,000 after purchasing an additional 28,668 shares in the last quarter. State of Wisconsin Investment Board acquired a new stake in PTC Therapeutics during the second quarter worth about $440,000. Prudential Financial Inc. acquired a new stake in PTC Therapeutics during the second quarter worth about $201,000. Chicago Equity Partners LLC increased its position in PTC Therapeutics by 9.2% during the second quarter. Chicago Equity Partners LLC now owns 62,290 shares of the biopharmaceutical company’s stock worth $1,142,000 after purchasing an additional 5,270 shares during the last quarter. Finally, Swiss National Bank increased its position in PTC Therapeutics by 13.0% during the second quarter. Swiss National Bank now owns 56,565 shares of the biopharmaceutical company’s stock worth $1,037,000 after purchasing an additional 6,500 shares during the last quarter. 86.12% of the stock is currently owned by hedge funds and other institutional investors.

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About PTC Therapeutics

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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