PDT Partners LLC Grows Stake in PTC Therapeutics, Inc. (NASDAQ:PTCT)

PDT Partners LLC increased its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 18.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 165,068 shares of the biopharmaceutical company’s stock after purchasing an additional 25,688 shares during the period. PTC Therapeutics accounts for 0.5% of PDT Partners LLC’s holdings, making the stock its 12th biggest holding. PDT Partners LLC’s holdings in PTC Therapeutics were worth $6,124,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PTCT. Choreo LLC grew its position in shares of PTC Therapeutics by 4.1% during the second quarter. Choreo LLC now owns 11,426 shares of the biopharmaceutical company’s stock valued at $356,000 after purchasing an additional 452 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in PTC Therapeutics by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 492 shares during the last quarter. KBC Group NV grew its holdings in PTC Therapeutics by 29.2% during the 3rd quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock valued at $83,000 after buying an additional 504 shares in the last quarter. Arizona State Retirement System increased its stake in PTC Therapeutics by 3.4% in the 2nd quarter. Arizona State Retirement System now owns 19,301 shares of the biopharmaceutical company’s stock worth $590,000 after acquiring an additional 636 shares during the last quarter. Finally, Creative Planning raised its holdings in shares of PTC Therapeutics by 8.1% during the 3rd quarter. Creative Planning now owns 10,944 shares of the biopharmaceutical company’s stock worth $406,000 after acquiring an additional 816 shares in the last quarter.

Analyst Ratings Changes

A number of research firms recently weighed in on PTCT. StockNews.com lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. Wells Fargo & Company lifted their price objective on shares of PTC Therapeutics from $56.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday. Cantor Fitzgerald restated an “overweight” rating and set a $64.00 target price on shares of PTC Therapeutics in a research report on Tuesday, September 17th. JPMorgan Chase & Co. lifted their price target on PTC Therapeutics from $51.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. Finally, Raymond James initiated coverage on PTC Therapeutics in a research report on Thursday, October 10th. They set a “market perform” rating on the stock. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $44.69.

PTC Therapeutics Stock Down 2.7 %

PTCT stock opened at $43.88 on Friday. The firm has a market cap of $3.38 billion, a price-to-earnings ratio of -7.39 and a beta of 0.63. PTC Therapeutics, Inc. has a twelve month low of $22.47 and a twelve month high of $47.24. The business’s fifty day simple moving average is $40.22 and its two-hundred day simple moving average is $36.27.

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.