PTC Therapeutics Inc (NASDAQ:PTCT): Positive Stock Sentiment

PTC Therapeutics, Inc. (NASDAQ:PTCT) Logo

Sentiment for PTC Therapeutics Inc (NASDAQ:PTCT)

PTC Therapeutics Inc (NASDAQ:PTCT) institutional sentiment increased to 2.06 in 2019 Q1. Its up 0.81, from 1.25 in 2018Q4. The ratio increased, as 99 hedge funds increased and started new equity positions, while 48 sold and reduced equity positions in PTC Therapeutics Inc. The hedge funds in our partner’s database reported: 55.24 million shares, up from 45.09 million shares in 2018Q4. Also, the number of hedge funds holding PTC Therapeutics Inc in their top 10 equity positions was flat from 3 to 3 for the same number . Sold All: 21 Reduced: 27 Increased: 64 New Position: 35.

PTC Therapeutics, Inc., a biopharmaceutical company, focuses on the discovery, development, and commercialization of orally administered, small molecule drugs that target post-transcriptional control processes. The company has market cap of $2.59 billion. The companyÂ’s lead product is Translarna , for the treatment of nonsense mutation Duchenne muscular dystrophy in ambulatory patients; and which is in phase III clinical trials to treat cystic fibrosis caused by nonsense mutations. It currently has negative earnings. It also develops Translarna, which is in Phase II clinical trials for the treatment of mucopolysaccharidosis type I caused by nonsense mutation, nonsense mutation aniridia, and nonsense mutation Dravet syndrome/CDKL5; and RG7916 that is in Phase I clinical trials to treat spinal muscular atrophy.

The stock decreased 1.23% or $0.55 during the last trading session, reaching $44.34. About 405,252 shares traded. PTC Therapeutics, Inc. (NASDAQ:PTCT) has risen 30.72% since August 15, 2018 and is uptrending. It has outperformed by 30.72% the S&P500.

Axon Capital Lp holds 13.11% of its portfolio in PTC Therapeutics, Inc. for 165,800 shares. Great Point Partners Llc owns 1.81 million shares or 6.76% of their US portfolio. Moreover, Opaleye Management Inc. has 2.23% invested in the company for 213,800 shares. The Quebec – Canada-based Sectoral Asset Management Inc has invested 2.1% in the stock. Elk Creek Partners Llc, a Colorado-based fund reported 467,537 shares.

PTC Therapeutics, Inc. (NASDAQ:PTCT) Ratings Coverage

Ratings analysis reveals 100% of PTC Therapeutics’s analysts are positive. Out of 3 Wall Street analysts rating PTC Therapeutics, 3 give it “Buy”, 0 “Sell” rating, while 0 recommend “Hold”. The lowest target is $40 while the high is $61. The stock’s average target of $48 is 8.25% above today’s ($44.34) share price. PTCT was included in 8 notes of analysts from February 22, 2019. Cantor Fitzgerald maintained the stock with “Buy” rating in Wednesday, March 6 report. Cantor Fitzgerald maintained PTC Therapeutics, Inc. (NASDAQ:PTCT) on Thursday, February 28 with “Buy” rating. RBC Capital Markets maintained the stock with “Buy” rating in Friday, February 22 report. The company was maintained on Tuesday, March 19 by RBC Capital Markets.

More notable recent PTC Therapeutics, Inc. (NASDAQ:PTCT) news were published by: Nasdaq.com which released: “Analysts Estimate PTC Therapeutics (PTCT) to Report a Decline in Earnings: What to Look Out for – Nasdaq” on April 25, 2019, also Seekingalpha.com with their article: “PTC Therapeutics Q2 Translarna sales up 21% – Seeking Alpha” published on August 06, 2019, Benzinga.com published: “The Daily Biotech Pulse: Sanofi’s Dupixent Found Effective For Pediatric Itchy Skin, Novavax Gets Nod For Late-Stage Study, Allakos Offering – Benzinga” on August 06, 2019. More interesting news about PTC Therapeutics, Inc. (NASDAQ:PTCT) were released by: Seekingalpha.com and their article: “European advisory group rejects extended use of PTC’s Translarna; shares down 7% premarket – Seeking Alpha” published on June 28, 2019 as well as Benzinga.com‘s news article titled: “40 Healthcare Stocks Moving In Friday’s After-Market Session – Benzinga” with publication date: July 29, 2019.

PTC Therapeutics, Inc. (NASDAQ:PTCT) Institutional Positions Chart

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