PTC Therapeutics (PTCT) : Traders are bullish on PTC Therapeutics (PTCT) as it has outperformed the S&P 500 by a wide margin of 12.41% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 4.45%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 4.5% in the last 1 week, and is up 13.57% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 19.48% and the 50-Day Moving Average is 15.37%. PTC Therapeutics (NASDAQ:PTCT): stock turned positive on Friday. Though the stock opened at $7.72, the bulls momentum made the stock top out at $8.245 level for the day. The stock recorded a low of $7.671 and closed the trading day at $8.12, in the green by 5.05%. The total traded volume for the day was 1,600,654. The stock had closed at $7.73 in the previous days trading.
The company Insiders own 7.8% of PTC Therapeutics shares according to the proxy statements. Institutional Investors own 89.59% of PTC Therapeutics shares. During last six month period, the net percent change held by insiders has seen a change of 64%. Also, In the latest statement by the brokerage house, Citigroup maintains its outlook on PTC Therapeutics (NASDAQ:PTCT). The current rating of the shares is Neutral, according to the research report released by the firm. The brokerage firm raises the price target from $8 per share to $9 per share. The rating by the firm was issued on August 8, 2016.
PTC Therapeutics, Inc. is a biopharmaceutical company focused on the discovery, development and commercialization of orally administered, small molecule therapeutics that target post-transcriptional control processes. The Companys internally discovered pipeline addresses multiple therapeutic areas, including rare disorders, oncology and infectious diseases. The Companys lead product, Translarna (ataluren), is used for the treatment of genetic disorders due to a nonsense mutation in ambulatory patients aged five years and older. Ataluren is in clinical development for the treatment of Duchenne muscular dystrophy caused by a nonsense mutation (nmDMD) and cystic fibrosis caused by a nonsense mutation (nmCF).