PTC Therapeutics (NASDAQ:PTCT) Stock Price Down 7.4% – Should You Sell?

PTC Therapeutics, Inc. (NASDAQ:PTCT)’s stock price dropped 7.4% during trading on Friday . The company traded as low as $39.21 and last traded at $39.23. Approximately 229,263 shares traded hands during trading, a decline of 73% from the average daily volume of 843,456 shares. The stock had previously closed at $42.38.

Wall Street Analysts Forecast Growth

PTCT has been the topic of a number of research analyst reports. Robert W. Baird increased their price objective on shares of PTC Therapeutics from $44.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. UBS Group started coverage on shares of PTC Therapeutics in a research report on Monday, August 26th. They set a “buy” rating and a $47.00 target price on the stock. Raymond James started coverage on shares of PTC Therapeutics in a research report on Thursday, October 10th. They set a “market perform” rating on the stock. Baird R W upgraded shares of PTC Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 4th. Finally, StockNews.com upgraded shares of PTC Therapeutics from a “hold” rating to a “buy” rating in a research report on Monday. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $41.31.

PTC Therapeutics Trading Down 5.6 %

The company has a market capitalization of $3.08 billion, a P/E ratio of -6.60 and a beta of 0.63. The firm’s 50 day moving average price is $38.03 and its two-hundred day moving average price is $35.43.

Hedge Funds Weigh In On PTC Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. boosted its position in PTC Therapeutics by 57.9% during the first quarter. Russell Investments Group Ltd. now owns 301,790 shares of the biopharmaceutical company’s stock worth $8,779,000 after purchasing an additional 110,670 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of PTC Therapeutics by 8.7% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 439,365 shares of the biopharmaceutical company’s stock worth $12,782,000 after buying an additional 35,173 shares in the last quarter. Edgestream Partners L.P. lifted its holdings in shares of PTC Therapeutics by 49.3% during the first quarter. Edgestream Partners L.P. now owns 53,522 shares of the biopharmaceutical company’s stock worth $1,557,000 after buying an additional 17,681 shares in the last quarter. Burney Co. acquired a new stake in shares of PTC Therapeutics during the first quarter worth $1,223,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of PTC Therapeutics by 21.7% during the second quarter. Assenagon Asset Management S.A. now owns 372,827 shares of the biopharmaceutical company’s stock worth $11,401,000 after buying an additional 66,596 shares in 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.