PTC Therapeutics, Inc. (NASDAQ:PTCT) Stock Position Increased by Cwm LLC

Cwm LLC lifted its position in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 354.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,687 shares of the biopharmaceutical company’s stock after buying an additional 2,096 shares during the period. Cwm LLC’s holdings in PTC Therapeutics were worth $100,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of PTCT. Allspring Global Investments Holdings LLC acquired a new position in shares of PTC Therapeutics in the 1st quarter worth $46,000. Quest Partners LLC purchased a new position in shares of PTC Therapeutics during the second quarter valued at $128,000. Quarry LP grew its stake in PTC Therapeutics by 100.0% in the second quarter. Quarry LP now owns 5,000 shares of the biopharmaceutical company’s stock valued at $153,000 after purchasing an additional 2,500 shares in the last quarter. Lazard Asset Management LLC grew its stake in PTC Therapeutics by 268.9% in the first quarter. Lazard Asset Management LLC now owns 6,504 shares of the biopharmaceutical company’s stock valued at $188,000 after purchasing an additional 4,741 shares in the last quarter. Finally, Headlands Technologies LLC grew its stake in PTC Therapeutics by 83.2% in the second quarter. Headlands Technologies LLC now owns 6,611 shares of the biopharmaceutical company’s stock valued at $202,000 after purchasing an additional 3,002 shares in the last quarter.

Analysts Set New Price Targets

PTCT has been the topic of several recent research reports. Raymond James initiated coverage on PTC Therapeutics in a report on Thursday, October 10th. They set a “market perform” rating on the stock. UBS Group assumed coverage on PTC Therapeutics in a research note on Monday, August 26th. They set a “buy” rating and a $47.00 target price for the company. Morgan Stanley upped their price target on PTC Therapeutics from $32.00 to $45.00 and gave the stock an “equal weight” rating in a report on Friday, October 11th. Cantor Fitzgerald reiterated an “overweight” rating and set a $64.00 target price on shares of PTC Therapeutics in a research note on Tuesday, September 17th. Finally, Baird R W upgraded PTC Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, PTC Therapeutics presently has an average rating of “Hold” and a consensus target price of $40.08.

PTC Therapeutics Trading Down 1.6 %

Shares of PTCT opened at $40.75 on Friday. The stock has a 50-day moving average price of $36.03 and a 200-day moving average price of $33.91. PTC Therapeutics, Inc. has a 12-month low of $17.53 and a 12-month high of $43.40. The company has a market cap of $3.13 billion, a PE ratio of -6.46 and a beta of 0.65.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.16). The firm had revenue of $186.70 million during the quarter, compared to analysts’ expectations of $192.12 million. As a group, analysts predict that PTC Therapeutics, Inc. will post -5.17 earnings per share for the current year.

About PTC Therapeutics

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.