Marshall Wace LLP Acquires 157,460 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

Marshall Wace LLP raised its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 708.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 179,679 shares of the biopharmaceutical company’s stock after buying an additional 157,460 shares during the period. Marshall Wace LLP owned about 0.23% of PTC Therapeutics worth $5,495,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Janus Henderson Group PLC increased its stake in shares of PTC Therapeutics by 40.5% in the first quarter. Janus Henderson Group PLC now owns 3,669,816 shares of the biopharmaceutical company’s stock worth $106,744,000 after purchasing an additional 1,057,223 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of PTC Therapeutics by 10.8% in the fourth quarter. Vanguard Group Inc. now owns 8,800,843 shares of the biopharmaceutical company’s stock worth $242,551,000 after purchasing an additional 855,354 shares in the last quarter. Norges Bank bought a new position in shares of PTC Therapeutics in the fourth quarter valued at approximately $15,058,000. Wellington Management Group LLP boosted its position in shares of PTC Therapeutics by 4.0% in the fourth quarter. Wellington Management Group LLP now owns 9,816,603 shares of the biopharmaceutical company’s stock valued at $270,546,000 after acquiring an additional 380,415 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of PTC Therapeutics by 21.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,605,841 shares of the biopharmaceutical company’s stock valued at $46,714,000 after acquiring an additional 282,422 shares during the period.

PTC Therapeutics Stock Down 2.8 %

NASDAQ PTCT opened at $36.05 on Wednesday. PTC Therapeutics, Inc. has a 52 week low of $17.53 and a 52 week high of $40.69. The firm has a market capitalization of $2.76 billion, a P/E ratio of -4.69 and a beta of 0.64. The company has a 50-day moving average price of $33.86 and a 200-day moving average price of $32.71.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.16) EPS for the quarter, missing the consensus estimate of ($1.00) by ($0.16). The firm had revenue of $186.70 million for the quarter, compared to analysts’ expectations of $192.12 million. As a group, equities research analysts anticipate that PTC Therapeutics, Inc. will post -5.09 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PTCT shares. Morgan Stanley raised their price objective on shares of PTC Therapeutics from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Friday, July 12th. Bank of America lifted their target price on shares of PTC Therapeutics from $25.00 to $32.00 and gave the company an “underperform” rating in a research report on Friday, June 21st. Cantor Fitzgerald reissued an “overweight” rating and set a $64.00 price target 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 set a “buy” rating and a $47.00 price target on the stock. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $53.00 target price on shares of PTC Therapeutics in a research note on Thursday, June 20th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $37.64.

Insiders Place Their Bets

In other PTC Therapeutics news, CFO Pierre Gravier sold 2,269 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $34.02, for a total value of $77,191.38. Following the completion of the transaction, the chief financial officer now directly owns 53,531 shares in the company, valued at approximately $1,821,124.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 5.50% of the stock is currently owned by corporate insiders.

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.