PTC Therapeutics Got Some Good News

By Ryan Adsit

In a report released today, Alethia Young from Credit Suisse upgraded PTC Therapeutics (NASDAQ: PTCT) to Buy. The company’s shares opened today at $12.

According to TipRanks.com, Young is ranked 0 out of 5 stars with an average return of -3.4% and a 37.8% success rate. Young covers the Healthcare sector, focusing on stocks such as Achillion Pharmaceuticals, Ionis Pharmaceuticals Inc, and Alexion Pharmaceuticals.

Currently, the analyst consensus on PTC Therapeutics is Moderate Buy and the average price target is $16.67, representing a 38.9% upside.

In a report issued on November 2, Barclays also reiterated a Buy rating on the stock with a $20 price target.

The company has a one year high of $35.40 and a one year low of $4.03. Currently, PTC Therapeutics has an average volume of 2.02M.

Based on the recent corporate insider activity of 7 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PTCT in relation to earlier this year. Last month, Mark Rothera, the CCO of PTCT bought 1,950 shares for a total of $21,158.

PTC Therapeutics, Inc. engages in the discovery, development, and commercialization of orally administered, small molecule therapeutics targeting an area of RNA biology. Its preclinical and discovery programs are focused on the development of new treatments for multiple therapeutic areas, including neuromuscular disease, oncology and infectious disease. It product, candidate ataluren, is used for the treatment of patients with genetic disorders that arise from a type of genetic mutation known as a nonsense mutation. The company was founded by Allan S. Jacobson and Stuart W. Peltz on March 31, 1998 and is headquartered in South Plainfield, NJ.