PTC Therapeutics Inc. (NASDAQ:PTCT) shares shot up 3.2% during mid-day trading on Wednesday . The stock traded as high as $7.24 and last traded at $7.05, with a volume of 321,413 shares traded. The stock had previously closed at $6.83.

Several research firms have recently issued reports on PTCT. Oppenheimer Holdings Inc. restated a “buy” rating and set a $39.00 price objective on shares of PTC Therapeutics in a report on Sunday, April 17th. Wedbush restated a “neutral” rating and set a $11.00 price objective on shares of PTC Therapeutics in a report on Wednesday, March 23rd. Jefferies Group restated a “hold” rating and set a $8.00 price objective on shares of PTC Therapeutics in a report on Friday, May 6th. Royal Bank Of Canada restated a “sector perform” rating and set a $9.00 price objective on shares of PTC Therapeutics in a report on Monday, April 18th. Finally, Credit Suisse Group AG restated a “buy” rating on shares of PTC Therapeutics in a report on Friday, May 6th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. PTC Therapeutics currently has an average rating of “Hold” and a consensus target price of $36.05.

The stock’s market cap is $241.16 million. The company’s 50-day moving average price is $7.35 and its 200-day moving average price is $13.36.

PTC Therapeutics (NASDAQ:PTCT) last posted its earnings results on Thursday, May 5th. The biopharmaceutical company reported ($1.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.26) by $0.04. The company had revenue of $18.90 million for the quarter, compared to analyst estimates of $13.74 million. The business’s quarterly revenue was up 152.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.15) EPS. Equities research analysts predict that PTC Therapeutics Inc. will post ($4.93) EPS for the current year.

Several hedge funds recently bought and sold shares of PTCT. Jennison Associates LLC boosted its stake in PTC Therapeutics by 5.9% in the fourth quarter. Jennison Associates LLC now owns 1,023,987 shares of the biopharmaceutical company’s stock worth $33,177,000 after buying an additional 57,092 shares in the last quarter. Jennison Associates bought a new stake in PTC Therapeutics during the third quarter worth about $17,806,000. Pinnacle Associates Ltd. boosted its stake in PTC Therapeutics by 59.2% in the fourth quarter. Pinnacle Associates Ltd. now owns 380,092 shares of the biopharmaceutical company’s stock worth $12,315,000 after buying an additional 141,322 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its stake in PTC Therapeutics by 82.2% in the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 204,392 shares of the biopharmaceutical company’s stock worth $6,622,000 after buying an additional 92,190 shares in the last quarter. Finally, South Dakota Investment Council bought a new stake in PTC Therapeutics during the fourth quarter worth about $2,145,000.

PTC Therapeutics, Inc is a biopharmaceutical company focused on the discovery, development and commercialization of orally administered, small molecule therapeutics that focus on post-transcriptional control processes. The Company’s lead product, Translarna (ataluren), is used for the treatment of nonsense mutation Duchenne muscular dystrophy (nmDMD) in ambulatory patients with age of over five years and older.

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