Parkman Healthcare Partners LLC Takes $7.23 Million Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Parkman Healthcare Partners LLC bought a new position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 195,000 shares of the biopharmaceutical company's stock, valued at approximately $7,234,000. Parkman Healthcare Partners LLC owned about 0.25% of PTC Therapeutics as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Edgestream Partners L.P. lifted its position in PTC Therapeutics by 37.6% in the third quarter. Edgestream Partners L.P. now owns 30,383 shares of the biopharmaceutical company's stock valued at $1,127,000 after acquiring an additional 8,303 shares during the last quarter. PDT Partners LLC lifted its holdings in shares of PTC Therapeutics by 18.4% in the 3rd quarter. PDT Partners LLC now owns 165,068 shares of the biopharmaceutical company's stock valued at $6,124,000 after purchasing an additional 25,688 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of PTC Therapeutics by 6.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,413 shares of the biopharmaceutical company's stock valued at $572,000 after purchasing an additional 884 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in PTC Therapeutics by 7.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 706,730 shares of the biopharmaceutical company's stock valued at $26,220,000 after buying an additional 47,902 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new stake in PTC Therapeutics in the third quarter valued at approximately $1,661,000.

Analyst Ratings Changes

Several analysts recently commented on PTCT shares. 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. UBS Group upped their target price on shares of PTC Therapeutics from $47.00 to $71.00 and gave the company a "buy" rating in a report on Tuesday. Wells Fargo & Company upped their target price on shares of PTC Therapeutics from $56.00 to $68.00 and gave the company an "overweight" rating in a report on Tuesday, November 26th. Barclays upped their price objective on PTC Therapeutics from $45.00 to $56.00 and gave the company an "equal weight" rating in a research note on Tuesday. Finally, Citigroup upped their price objective on PTC Therapeutics from $26.00 to $32.00 and gave the company a "sell" rating in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $52.38.

PTC Therapeutics Stock Down 0.9 %

NASDAQ PTCT traded down $0.43 during mid-day trading on Wednesday, hitting $49.86. The stock had a trading volume of 941,523 shares, compared to its average volume of 857,446. PTC Therapeutics, Inc. has a 52-week low of $23.58 and a 52-week high of $54.16. The company has a market cap of $3.85 billion, a price-to-earnings ratio of -8.47 and a beta of 0.63. The company has a 50 day simple moving average of $40.80 and a 200 day simple moving average of $36.57.

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.