18,806 Shares in PTC Therapeutics, Inc. (NASDAQ:PTCT) Bought by Intech Investment Management LLC

Intech Investment Management LLC acquired a new stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) during the 3rd quarter, HoldingsChannel reports. The fund acquired 18,806 shares of the biopharmaceutical company’s stock, valued at approximately $698,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PTCT. Armistice Capital LLC raised its position in shares of PTC Therapeutics by 2.9% during the 2nd quarter. Armistice Capital LLC now owns 6,962,227 shares of the biopharmaceutical company’s stock worth $212,905,000 after purchasing an additional 198,227 shares during the last quarter. Ensign Peak Advisors Inc raised its holdings in shares of PTC Therapeutics by 650.9% during the second quarter. Ensign Peak Advisors Inc now owns 208,302 shares of the biopharmaceutical company’s stock valued at $6,370,000 after acquiring an additional 180,561 shares during the last quarter. Millennium Management LLC lifted its position in shares of PTC Therapeutics by 123.2% in the second quarter. Millennium Management LLC now owns 317,579 shares of the biopharmaceutical company’s stock valued at $9,712,000 after acquiring an additional 175,289 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of PTC Therapeutics by 708.7% in the second quarter. Marshall Wace LLP now owns 179,679 shares of the biopharmaceutical company’s stock worth $5,495,000 after acquiring an additional 157,460 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in shares of PTC Therapeutics during the second quarter worth approximately $3,758,000.

PTC Therapeutics Stock Down 2.7 %

PTCT stock opened at $43.88 on Friday. PTC Therapeutics, Inc. has a 52-week low of $22.47 and a 52-week high of $47.24. The stock has a market cap of $3.38 billion, a price-to-earnings ratio of -7.39 and a beta of 0.63. The business has a fifty day moving average of $40.22 and a two-hundred day moving average of $36.27.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PTCT. Royal Bank of Canada raised their price objective on PTC Therapeutics from $32.00 to $34.00 and gave the company a “sector perform” rating in a report on Friday, October 4th. Robert W. Baird raised their price target on shares of PTC Therapeutics from $48.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $64.00 price objective on shares of PTC Therapeutics in a research note on Tuesday, September 17th. UBS Group assumed coverage on shares of PTC Therapeutics in a research note on Monday, August 26th. They issued a “buy” rating and a $47.00 target price on the stock. Finally, Raymond James started coverage on PTC Therapeutics in a research report on Thursday, October 10th. They issued a “market perform” rating for the company. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $44.69.

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.