Massachusetts Financial Services Co. MA Buys Shares of 44,771 PTC Therapeutics, Inc. (NASDAQ:PTCT)

Massachusetts Financial Services Co. MA acquired a new position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) during the 3rd quarter, according to the company in its most recent filing 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 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of PTC Therapeutics by 6.5% in the 1st quarter. Vanguard Group Inc. now owns 9,369,014 shares of the biopharmaceutical company's stock worth $272,545,000 after acquiring an additional 568,171 shares during the period. Armistice Capital LLC boosted its position in 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 acquiring an additional 198,227 shares during the period. Cowen AND Company LLC grew its position in PTC Therapeutics by 0.8% in the 2nd quarter. Cowen AND Company LLC now owns 3,756,469 shares of the biopharmaceutical company's stock valued at $114,873,000 after buying an additional 30,843 shares in the last quarter. Renaissance Technologies LLC lifted its position in PTC Therapeutics by 7.4% in the second quarter. Renaissance Technologies LLC now owns 818,100 shares of the biopharmaceutical company's stock worth $25,017,000 after purchasing an additional 56,700 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in PTC Therapeutics by 32.1% in the third quarter. Assenagon Asset Management S.A. now owns 492,464 shares of the biopharmaceutical company's stock worth $18,270,000 after acquiring an additional 119,637 shares in the last quarter.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of PTC Therapeutics from $51.00 to $62.00 and gave the company an "overweight" rating in a research report on Tuesday, November 19th. Barclays increased their price target on shares of PTC Therapeutics from $31.00 to $43.00 and gave the stock an "equal weight" rating in a research report on Monday, November 11th. Royal Bank of Canada upped their price objective on shares of PTC Therapeutics from $32.00 to $34.00 and gave the company a "sector perform" rating in a research note on Friday, October 4th. Wells Fargo & Company lifted their target price on shares of PTC Therapeutics from $56.00 to $68.00 and gave the company an "overweight" rating in a research note on Tuesday. Finally, StockNews.com downgraded shares of PTC Therapeutics from a "buy" rating to a "hold" rating in a research note on Tuesday, November 19th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $44.69.

PTC Therapeutics Price Performance

PTCT traded down $0.90 on Thursday, hitting $45.11. The company had a trading volume of 789,522 shares, compared to its average volume of 844,491. The stock has a market cap of $3.48 billion, a price-to-earnings ratio of -7.59 and a beta of 0.63. The company's fifty day moving average price is $40.07 and its 200 day moving average price is $36.18. PTC Therapeutics, Inc. has a 1-year low of $21.10 and a 1-year high of $47.24.

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.