Los Angeles Capital Management LLC Has $561,000 Stock Holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Los Angeles Capital Management LLC grew its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 40.0% in the third quarter, Holdings Channel reports. The institutional investor owned 15,130 shares of the biopharmaceutical company’s stock after acquiring an additional 4,325 shares during the period. Los Angeles Capital Management LLC’s holdings in PTC Therapeutics were worth $561,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in PTC Therapeutics by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 9,369,014 shares of the biopharmaceutical company’s stock valued at $272,545,000 after purchasing an additional 568,171 shares during the last quarter. Armistice Capital LLC boosted its position in shares of PTC Therapeutics by 2.9% during the second quarter. Armistice Capital LLC now owns 6,962,227 shares of the biopharmaceutical company’s stock valued at $212,905,000 after buying an additional 198,227 shares during the last quarter. Cowen AND Company LLC grew its holdings in PTC Therapeutics by 0.8% during the second quarter. Cowen AND Company LLC now owns 3,756,469 shares of the biopharmaceutical company’s stock worth $114,873,000 after buying an additional 30,843 shares in the last quarter. Janus Henderson Group PLC raised its position in PTC Therapeutics by 40.5% in the 1st quarter. Janus Henderson Group PLC now owns 3,669,816 shares of the biopharmaceutical company’s stock valued at $106,744,000 after buying an additional 1,057,223 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in PTC Therapeutics by 21.3% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,605,841 shares of the biopharmaceutical company’s stock worth $46,714,000 after acquiring an additional 282,422 shares during the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PTCT. Morgan Stanley increased their target price on shares of PTC Therapeutics from $32.00 to $45.00 and gave the company an “equal weight” rating in a report on Friday, October 11th. Baird R W raised shares of PTC Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 4th. UBS Group began coverage on PTC Therapeutics in a research note on Monday, August 26th. They issued a “buy” rating and a $47.00 target price on the stock. Barclays increased their price target on PTC Therapeutics from $31.00 to $43.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Finally, Royal Bank of Canada boosted their price objective on PTC Therapeutics from $32.00 to $34.00 and gave the stock a “sector perform” rating in a research report on Friday, October 4th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $41.31.

PTC Therapeutics Stock Down 7.4 %

NASDAQ PTCT opened at $39.23 on Friday. The company has a market cap of $3.03 billion, a PE ratio of -6.60 and a beta of 0.63. PTC Therapeutics, Inc. has a 52 week low of $19.75 and a 52 week high of $46.98. The firm’s 50-day simple moving average is $38.40 and its two-hundred day simple moving average is $35.53.

PTC Therapeutics Company 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.