Massachusetts Financial Services Co. MA Purchases New Holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Massachusetts Financial Services Co. MA acquired a new position in PTC Therapeutics, Inc. (NASDAQ:PTCT) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 44,771 shares of the biopharmaceutical company’s stock, valued at approximately $1,661,000.

A number of other institutional investors have also recently bought and sold shares of PTCT. Intech Investment Management LLC purchased a new position in shares of PTC Therapeutics in the 3rd quarter worth about $698,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in PTC Therapeutics by 6.0% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 472,288 shares of the biopharmaceutical company’s stock valued at $17,522,000 after acquiring an additional 26,773 shares during the last quarter. Quest Partners LLC boosted its stake in PTC Therapeutics by 433.9% in the third quarter. Quest Partners LLC now owns 22,359 shares of the biopharmaceutical company’s stock valued at $830,000 after acquiring an additional 18,171 shares during the last quarter. Thrivent Financial for Lutherans bought a new position in shares of PTC Therapeutics during the 3rd quarter valued at approximately $1,450,000. Finally, KBC Group NV raised its holdings in shares of PTC Therapeutics by 29.2% in the 3rd quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock worth $83,000 after purchasing an additional 504 shares during the period.

Analyst Ratings Changes

Several equities analysts have weighed in on PTCT shares. Baird R W raised PTC Therapeutics to a “strong-buy” rating in a report on Wednesday, September 4th. Robert W. Baird boosted their price objective on PTC Therapeutics from $48.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday. UBS Group initiated coverage on shares of PTC Therapeutics in a research report on Monday, August 26th. They set a “buy” rating and a $47.00 target price for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $64.00 price target on shares of PTC Therapeutics in a research report on Tuesday, September 17th. Finally, Barclays raised their price objective on shares of PTC Therapeutics from $31.00 to $43.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $44.69.

PTC Therapeutics Stock Down 2.0 %

NASDAQ:PTCT opened at $45.11 on Thursday. The stock has a market cap of $3.48 billion, a P/E ratio of -7.59 and a beta of 0.63. The business’s 50-day moving average price is $39.89 and its two-hundred day moving average price is $36.12. PTC Therapeutics, Inc. has a twelve month low of $21.10 and a twelve month high of $47.24.

PTC Therapeutics Profile

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders in the United States and internationally. The company offers Translarna and Emflaza for the treatment of Duchenne muscular dystrophy; Upstaza to treat aromatic l-amino acid decarboxylas (AADC) deficiency, a central nervous system disorder; Tegsedi and Waylivra for the treatment of rare diseases; and Evrysdi to treat spinal muscular atrophy (SMA) in adults and children.