tsla

BioPharma Boosted on Analyst Upgrade

The firm also raised its price target to $71 from $48

Deputy Editor
Oct 7, 2020 at 9:14 AM
facebook X logo linkedin


The shares of PTC Therapeutics Inc (NASDAQ:PTCT) are up 3.8% at $51.50 in pre-market trading, after J.P. Morgan Securities upgraded the stock to "overweight" from "neutral," with an added price-target hike to $71 from $48. The firm noted that current shares do not reflect the biopharmaceutical company's Huntington's program or acquired gene therapy, and offer an attractive long-term entry-point.

Today's pop has PTC stock looking to topple pressure at the $51 level, which has rejected the stock's rallies since its late-July dip. Year-to-date, the stock is up around 6%. 

Coming into today, analysts were already leaning bullish on PTCT, with six of the nine in coverage at a "buy" or better and the remaining three at a "hold." Meanwhile, the 12-month consensus price target of $61.18 is a 23.3% premium to last night's close. 

Lastly, though short interest has begun to fall off, down 21.2% during the last two reporting periods, the 4.96 million shares sold short still account for 7.6% of the stock's available float. In other words, it would take nearly seven days to buy back these bearish bets at PTC stock's average pace of trading. 

 

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.