Quest Partners LLC Raises Holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Quest Partners LLC increased its stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 433.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,359 shares of the biopharmaceutical company's stock after purchasing an additional 18,171 shares during the quarter. Quest Partners LLC's holdings in PTC Therapeutics were worth $830,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PTCT. KBC Group NV increased its position in PTC Therapeutics by 29.2% during the 3rd quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company's stock valued at $83,000 after buying an additional 504 shares in the last quarter. CWM LLC increased its position in PTC Therapeutics by 354.7% during the 3rd quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company's stock valued at $100,000 after buying an additional 2,096 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in PTC Therapeutics by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company's stock valued at $104,000 after buying an additional 492 shares in the last quarter. Quarry LP increased its holdings in shares of 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 during the period. Finally, Lazard Asset Management LLC increased its holdings in shares of 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 during the period.

PTC Therapeutics Stock Performance

Shares of NASDAQ:PTCT traded up $0.34 on Friday, hitting $43.23. 548,739 shares of the company's stock were exchanged, compared to its average volume of 842,228. The firm's 50-day moving average is $39.11 and its 200 day moving average is $35.74. The company has a market capitalization of $3.33 billion, a PE ratio of -7.22 and a beta of 0.63. PTC Therapeutics, Inc. has a 1-year low of $20.75 and a 1-year high of $46.98.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price objective on PTC Therapeutics from $51.00 to $62.00 and gave the company an "overweight" rating in a report on Tuesday. Cantor Fitzgerald reissued an "overweight" rating and issued a $64.00 price objective on shares of PTC Therapeutics in a report on Tuesday, September 17th. Royal Bank of Canada increased their price objective on PTC Therapeutics from $32.00 to $34.00 and gave the company a "sector perform" rating in a report on Friday, October 4th. Robert W. Baird raised their target price on PTC Therapeutics from $44.00 to $48.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. Finally, Raymond James initiated coverage on PTC Therapeutics in a report on Thursday, October 10th. They set a "market perform" rating on the stock. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, PTC Therapeutics currently has an average rating of "Hold" and a consensus target price of $42.00.

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.