Fintel reports that on September 18, 2023, Truist Securities maintained coverage of PTC Therapeutics (NASDAQ:PTCT) with a Buy recommendation.
Analyst Price Forecast Suggests 119.01% Upside
As of August 31, 2023, the average one-year price target for PTC Therapeutics is 53.18. The forecasts range from a low of 35.35 to a high of $76.65. The average price target represents an increase of 119.01% from its latest reported closing price of 24.28.
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The projected annual revenue for PTC Therapeutics is 882MM, an increase of 7.73%. The projected annual non-GAAP EPS is -4.59.
What is the Fund Sentiment?
There are 532 funds or institutions reporting positions in PTC Therapeutics. This is an increase of 32 owner(s) or 6.40% in the last quarter. Average portfolio weight of all funds dedicated to PTCT is 0.22%, a decrease of 8.03%. Total shares owned by institutions increased in the last three months by 3.17% to 93,015K shares. 
The put/call ratio of PTCT is 1.15, indicating a bearish outlook.
What are Other Shareholders Doing?
Rtw Investments holds 7,235K shares representing 9.60% ownership of the company. In it's prior filing, the firm reported owning 7,093K shares, representing an increase of 1.96%. The firm decreased its portfolio allocation in PTCT by 21.71% over the last quarter.
Wellington Management Group Llp holds 6,786K shares representing 9.01% ownership of the company. In it's prior filing, the firm reported owning 6,998K shares, representing a decrease of 3.11%. The firm decreased its portfolio allocation in PTCT by 22.30% over the last quarter.
Janus Henderson Group holds 3,597K shares representing 4.77% ownership of the company. In it's prior filing, the firm reported owning 3,196K shares, representing an increase of 11.13%. The firm decreased its portfolio allocation in PTCT by 12.01% over the last quarter.
Franklin Resources holds 3,312K shares representing 4.40% ownership of the company. In it's prior filing, the firm reported owning 3,446K shares, representing a decrease of 4.04%. The firm increased its portfolio allocation in PTCT by 244.70% over the last quarter.
Armistice Capital holds 3,236K shares representing 4.29% ownership of the company. In it's prior filing, the firm reported owning 2,924K shares, representing an increase of 9.64%. The firm decreased its portfolio allocation in PTCT by 6.63% over the last quarter.
PTC Therapeutics Background Information
(This description is provided by the company.)
PTC is a science-driven, global biopharmaceutical company focused on the discovery, development and commercialization of clinically differentiated medicines that provide benefits to patients with rare disorders. PTC's ability to globally commercialize products is the foundation that drives investment in a robust and diversified pipeline of transformative medicines and its mission to provide access to best-in-class treatments for patients who have an unmet medical need. The Company's strategy is to leverage its strong scientific expertise and global commercial infrastructure to maximize value for its patients and other stakeholders.
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This story originally appeared on Fintel.
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