Los Angeles Capital Management LLC Purchases 4,325 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

Los Angeles Capital Management LLC increased its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 40.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PTCT. Allspring Global Investments Holdings LLC bought a new stake in shares of PTC Therapeutics during the first quarter worth about $46,000. Russell Investments Group Ltd. increased its position in PTC Therapeutics by 57.9% in the 1st quarter. Russell Investments Group Ltd. now owns 301,790 shares of the biopharmaceutical company’s stock valued at $8,779,000 after acquiring an additional 110,670 shares during the period. ProShare Advisors LLC raised its stake in shares of PTC Therapeutics by 9.3% during the first quarter. ProShare Advisors LLC now owns 18,313 shares of the biopharmaceutical company’s stock valued at $533,000 after acquiring an additional 1,564 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in shares of PTC Therapeutics by 9.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 22,101 shares of the biopharmaceutical company’s stock worth $643,000 after purchasing an additional 1,890 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of PTC Therapeutics by 6.5% in the first quarter. Vanguard Group Inc. now owns 9,369,014 shares of the biopharmaceutical company’s stock worth $272,545,000 after purchasing an additional 568,171 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages have commented on PTCT. Baird R W raised PTC Therapeutics to a “strong-buy” rating in a 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 price objective on the stock. Barclays increased their target price on shares of PTC Therapeutics from $31.00 to $43.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. StockNews.com upgraded shares of PTC Therapeutics from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Finally, Raymond James began coverage on shares of PTC Therapeutics in a research note on Thursday, October 10th. They set a “market perform” rating for the company. Three analysts have rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $41.31.

PTC Therapeutics Price Performance

Shares of PTCT opened at $39.23 on Friday. PTC Therapeutics, Inc. has a one year low of $19.75 and a one year high of $46.98. The company has a market cap of $3.03 billion, a PE ratio of -6.60 and a beta of 0.63. The stock has a 50-day moving average of $38.40 and a 200-day moving average of $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.