Shares of PTC Therapeutics Inc. (NASDAQ:PTCT) shot up 4.8% during trading on Friday . The company traded as high as $8.24 and last traded at $8.10, with a volume of 1,558,510 shares traded. The stock had previously closed at $7.73.

A number of research firms have recently commented on PTCT. Oppenheimer Holdings Inc. reissued a “buy” rating and issued a $39.00 price objective on shares of PTC Therapeutics in a research note on Sunday, April 17th. Zacks Investment Research raised PTC Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday. Credit Suisse Group AG downgraded PTC Therapeutics from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 26th. Wedbush decreased their target price on PTC Therapeutics from $12.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, July 26th. Finally, Citigroup Inc. lifted their target price on PTC Therapeutics from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Monday. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. PTC Therapeutics presently has a consensus rating of “Hold” and an average price target of $34.72.

The firm’s 50-day moving average price is $6.93 and its 200 day moving average price is $9.61. The firm’s market cap is $276.75 million.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($1.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.27) by $0.13. The firm had revenue of $15.40 million for the quarter, compared to analyst estimates of $15.24 million. During the same period in the prior year, the company posted ($1.14) EPS. The firm’s quarterly revenue was up 150.0% compared to the same quarter last year. Analysts expect that PTC Therapeutics Inc. will post ($4.95) EPS for the current fiscal year.

A number of hedge funds and institutional investors have recently bought and sold shares of the company. Westfield Capital Management Co. LP increased its position in PTC Therapeutics by 49.6% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,872,220 shares of the biopharmaceutical company’s stock valued at $60,660,000 after buying an additional 621,079 shares in the last quarter. Jennison Associates LLC increased its position 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 valued at $33,177,000 after buying an additional 57,092 shares in the last quarter. BlackRock Advisors LLC increased its position in PTC Therapeutics by 2.3% in the fourth quarter. BlackRock Advisors LLC now owns 505,966 shares of the biopharmaceutical company’s stock valued at $16,393,000 after buying an additional 11,568 shares in the last quarter. Marshall Wace LLP increased its position in PTC Therapeutics by 50.6% in the fourth quarter. Marshall Wace LLP now owns 44,410 shares of the biopharmaceutical company’s stock valued at $1,439,000 after buying an additional 14,926 shares in the last quarter. Finally, Rhumbline Advisers increased its position in PTC Therapeutics by 8.1% in the fourth quarter. Rhumbline Advisers now owns 33,247 shares of the biopharmaceutical company’s stock valued at $1,077,000 after buying an additional 2,485 shares in the last quarter.

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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