Mirae Asset Global Investments Co. Ltd. Buys 492 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

Mirae Asset Global Investments Co. Ltd. boosted its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 21.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,782 shares of the biopharmaceutical company’s stock after acquiring an additional 492 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in PTC Therapeutics were worth $104,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PTCT. Assenagon Asset Management S.A. grew its holdings in PTC Therapeutics by 32.1% during the third quarter. Assenagon Asset Management S.A. now owns 492,464 shares of the biopharmaceutical company’s stock valued at $18,270,000 after purchasing an additional 119,637 shares during the period. Creative Planning boosted its holdings in shares of PTC Therapeutics by 8.1% during the 3rd quarter. Creative Planning now owns 10,944 shares of the biopharmaceutical company’s stock valued at $406,000 after purchasing an additional 816 shares during the last quarter. CWM LLC raised its holdings in shares of PTC Therapeutics by 354.7% during the 3rd quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company’s stock worth $100,000 after acquiring an additional 2,096 shares in the last quarter. Handelsbanken Fonder AB lifted its position in PTC Therapeutics by 11.3% during the third quarter. Handelsbanken Fonder AB now owns 24,700 shares of the biopharmaceutical company’s stock valued at $916,000 after purchasing an additional 2,500 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in PTC Therapeutics in the third quarter worth about $835,000.

PTC Therapeutics Trading Down 0.2 %

Shares of PTCT opened at $40.39 on Tuesday. The firm has a market cap of $3.11 billion, a P/E ratio of -6.40 and a beta of 0.63. The stock’s 50 day moving average is $36.81 and its two-hundred day moving average is $34.63. PTC Therapeutics, Inc. has a 12 month low of $18.15 and a 12 month high of $43.40.

PTC Therapeutics (NASDAQ:PTCT) last issued 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 company had revenue of $186.70 million during the quarter, compared to analysts’ expectations of $192.12 million. Equities research analysts forecast that PTC Therapeutics, Inc. will post -5.28 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on PTCT. Morgan Stanley lifted their price objective on shares of PTC Therapeutics from $32.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Friday, October 11th. Cantor Fitzgerald restated 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 started coverage on PTC Therapeutics in a report on Monday, August 26th. They issued a “buy” rating and a $47.00 price target on the stock. Barclays boosted their price objective on shares of PTC Therapeutics from $25.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Finally, 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 report on Friday, October 4th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $40.08.

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.