Massachusetts Financial Services Co. MA Takes $1.66 Million Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Massachusetts Financial Services Co. MA acquired a new stake in PTC Therapeutics, Inc. (NASDAQ:PTCT) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 44,771 shares of the biopharmaceutical company’s stock, valued at approximately $1,661,000. Massachusetts Financial Services Co. MA owned 0.06% of PTC Therapeutics at the end of the most recent reporting period.

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

PTC Therapeutics Price Performance

PTCT opened at $45.11 on Thursday. PTC Therapeutics, Inc. has a 1 year low of $21.10 and a 1 year high of $47.24. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of -7.59 and a beta of 0.63. The firm’s fifty day moving average price is $39.89 and its two-hundred day moving average price is $36.12.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PTCT shares. StockNews.com lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. Cantor Fitzgerald reissued an “overweight” rating and issued a $64.00 price objective on shares of PTC Therapeutics in a research note on Tuesday, September 17th. Royal Bank of Canada raised their target price on PTC Therapeutics from $32.00 to $34.00 and gave the stock a “sector perform” rating in a research note on Friday, October 4th. Raymond James assumed coverage on PTC Therapeutics in a research note on Thursday, October 10th. They issued a “market perform” rating on the stock. Finally, Robert W. Baird raised their price objective on shares of PTC Therapeutics from $48.00 to $52.00 and gave the stock an “outperform” rating in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $44.69.

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.