KBC Group NV Grows Stock Holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT)

KBC Group NV grew its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 29.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,232 shares of the biopharmaceutical company’s stock after acquiring an additional 504 shares during the period. KBC Group NV’s holdings in PTC Therapeutics were worth $83,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Burney Co. acquired a new position in shares of PTC Therapeutics during the first quarter worth about $1,223,000. Assenagon Asset Management S.A. lifted its position in PTC Therapeutics by 21.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 372,827 shares of the biopharmaceutical company’s stock worth $11,401,000 after acquiring an additional 66,596 shares in the last quarter. Bank of New York Mellon Corp grew its position in PTC Therapeutics by 17.1% in the second quarter. Bank of New York Mellon Corp now owns 279,049 shares of the biopharmaceutical company’s stock valued at $8,533,000 after acquiring an additional 40,840 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of PTC Therapeutics by 7.4% during the second quarter. Renaissance Technologies LLC now owns 818,100 shares of the biopharmaceutical company’s stock valued at $25,017,000 after purchasing an additional 56,700 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in shares of PTC Therapeutics during the third quarter valued at approximately $835,000.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. StockNews.com lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday. Raymond James initiated coverage on PTC Therapeutics in a research note on Thursday, October 10th. They set a “market perform” rating for the company. Barclays boosted their price target on PTC Therapeutics from $31.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Cantor Fitzgerald restated an “overweight” rating and set a $64.00 price objective on shares of PTC Therapeutics in a research note on Tuesday, September 17th. Finally, Morgan Stanley lifted their price objective on PTC Therapeutics from $32.00 to $45.00 and gave the stock an “equal weight” rating in a report on Friday, October 11th. Three 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 company. Based on data from MarketBeat, PTC Therapeutics currently has an average rating of “Hold” and a consensus price target of $42.00.

PTC Therapeutics Price Performance

PTC Therapeutics stock opened at $43.23 on Friday. PTC Therapeutics, Inc. has a 12 month low of $20.75 and a 12 month high of $46.98. The company has a fifty day moving average price of $39.11 and a two-hundred day moving average price of $35.74. The company has a market cap of $3.33 billion, a PE ratio of -7.22 and a beta of 0.63.

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.