PTC Therapeutics (NASDAQ:PTCT) Stock Price Down 3.4% – Should You Sell?

PTC Therapeutics, Inc. (NASDAQ:PTCT)’s share price traded down 3.4% on Friday . The company traded as low as $43.53 and last traded at $43.57. 30,044 shares were traded during trading, a decline of 96% from the average session volume of 840,922 shares. The stock had previously closed at $45.11.

Wall Street Analyst Weigh In

Several research firms have recently commented on PTCT. Cantor Fitzgerald reissued an “overweight” rating and issued a $64.00 price target on shares of PTC Therapeutics in a research report on Tuesday, September 17th. Royal Bank of Canada raised their price target on shares of PTC Therapeutics from $32.00 to $34.00 and gave the company a “sector perform” rating in a report on Friday, October 4th. JPMorgan Chase & Co. raised their target price on shares of PTC Therapeutics from $51.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. Raymond James initiated coverage on PTC Therapeutics in a report on Thursday, October 10th. They set a “market perform” rating for the company. Finally, StockNews.com lowered PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $44.69.

PTC Therapeutics Stock Down 3.6 %

The stock has a market cap of $3.35 billion, a PE ratio of -7.59 and a beta of 0.63. The business has a 50 day moving average price of $40.07 and a 200 day moving average price of $36.18.

Institutional Investors Weigh In On PTC Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in PTCT. KBC Group NV boosted its holdings in PTC Therapeutics by 29.2% during the third quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock worth $83,000 after buying an additional 504 shares in the last quarter. CWM LLC boosted its stake in shares of PTC Therapeutics by 354.7% during the 3rd quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company’s stock worth $100,000 after acquiring an additional 2,096 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of PTC Therapeutics by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock valued at $104,000 after acquiring an additional 492 shares during the period. Quest Partners LLC purchased a new position in shares of PTC Therapeutics in the 2nd quarter valued at about $128,000. Finally, Quarry LP raised its holdings in PTC Therapeutics by 100.0% in the 2nd quarter. Quarry LP now owns 5,000 shares of the biopharmaceutical company’s stock worth $153,000 after purchasing an additional 2,500 shares during the period.

About PTC Therapeutics

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.