PTC Therapeutics, Inc. (NASDAQ:PTCT) Position Raised by Swiss National Bank

Swiss National Bank lifted its stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCTGet Rating) by 0.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 151,265 shares of the biopharmaceutical company’s stock after purchasing an additional 800 shares during the quarter. Swiss National Bank’s holdings in PTC Therapeutics were worth $6,060,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. CM Management LLC raised its stake in shares of PTC Therapeutics by 12.5% during the second quarter. CM Management LLC now owns 45,000 shares of the biopharmaceutical company’s stock valued at $1,803,000 after purchasing an additional 5,000 shares in the last quarter. Integral Health Asset Management LLC raised its stake in shares of PTC Therapeutics by 149.2% during the second quarter. Integral Health Asset Management LLC now owns 104,656 shares of the biopharmaceutical company’s stock valued at $4,193,000 after purchasing an additional 62,656 shares in the last quarter. Walleye Capital LLC raised its stake in shares of PTC Therapeutics by 502.1% during the second quarter. Walleye Capital LLC now owns 60,412 shares of the biopharmaceutical company’s stock valued at $2,420,000 after purchasing an additional 50,379 shares in the last quarter. Teacher Retirement System of Texas raised its stake in shares of PTC Therapeutics by 6.4% during the first quarter. Teacher Retirement System of Texas now owns 13,027 shares of the biopharmaceutical company’s stock valued at $486,000 after purchasing an additional 789 shares in the last quarter. Finally, Panagora Asset Management Inc. raised its stake in shares of PTC Therapeutics by 4.6% during the first quarter. Panagora Asset Management Inc. now owns 236,041 shares of the biopharmaceutical company’s stock valued at $8,807,000 after purchasing an additional 10,299 shares in the last quarter.

Analysts Set New Price Targets

PTCT has been the topic of a number of recent analyst reports. Morgan Stanley lowered their target price on PTC Therapeutics from $54.00 to $40.00 and set an “equal weight” rating on the stock in a report on Friday, October 28th. Jefferies Financial Group initiated coverage on PTC Therapeutics in a report on Monday, September 12th. They set a “buy” rating and a $62.00 target price on the stock. Raymond James lifted their target price on PTC Therapeutics from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, August 11th. StockNews.com raised PTC Therapeutics from a “hold” rating to a “buy” rating in a report on Monday, October 31st. Finally, Barclays lowered their target price on PTC Therapeutics to $47.00 in a report on Tuesday, November 1st. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $55.50.

PTC Therapeutics Price Performance

NASDAQ:PTCT opened at $39.40 on Thursday. PTC Therapeutics, Inc. has a fifty-two week low of $25.01 and a fifty-two week high of $55.58. The stock’s 50-day moving average is $45.12 and its two-hundred day moving average is $42.66. The stock has a market cap of $2.83 billion, a PE ratio of -5.27 and a beta of 0.43.

Insider Buying and Selling at PTC Therapeutics

In other PTC Therapeutics news, VP Mark Elliott Boulding sold 1,176 shares of PTC Therapeutics stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $55.00, for a total transaction of $64,680.00. Following the transaction, the vice president now owns 61,110 shares of the company’s stock, valued at approximately $3,361,050. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 6.00% of the company’s stock.

PTC Therapeutics Company Profile

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PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders. Its portfolio pipeline includes commercial products and product candidates in various stages of development, including clinical, pre-clinical and research and discovery stages, focuses on the development of treatments for multiple therapeutic areas, such as rare diseases.

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Institutional Ownership by Quarter for PTC Therapeutics (NASDAQ:PTCT)

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