PTC Therapeutics, Inc. (NASDAQ:PTCT) Shares Bought by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D raised its stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 7.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 56,820 shares of the biopharmaceutical company’s stock after buying an additional 3,727 shares during the period. State of New Jersey Common Pension Fund D’s holdings in PTC Therapeutics were worth $2,108,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new position in shares of PTC Therapeutics during the first quarter valued at approximately $46,000. Russell Investments Group Ltd. lifted its holdings in shares of PTC Therapeutics by 57.9% in the first quarter. Russell Investments Group Ltd. now owns 301,790 shares of the biopharmaceutical company’s stock valued at $8,779,000 after buying an additional 110,670 shares during the period. ProShare Advisors LLC boosted its stake in PTC Therapeutics by 9.3% during the first quarter. ProShare Advisors LLC now owns 18,313 shares of the biopharmaceutical company’s stock valued at $533,000 after buying an additional 1,564 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in PTC Therapeutics by 8.7% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 439,365 shares of the biopharmaceutical company’s stock worth $12,782,000 after acquiring an additional 35,173 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its position in PTC Therapeutics by 9.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 22,101 shares of the biopharmaceutical company’s stock worth $643,000 after acquiring an additional 1,890 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PTCT shares. Baird R W raised shares of PTC Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. Raymond James started coverage on shares of PTC Therapeutics in a research report on Thursday, October 10th. They issued a “market perform” rating on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $64.00 price objective on shares of PTC Therapeutics in a research note on Tuesday, September 17th. Barclays upped their price target on shares of PTC Therapeutics from $31.00 to $43.00 and gave the company an “equal weight” rating in a research report on Monday. Finally, StockNews.com upgraded shares of PTC Therapeutics from a “hold” rating to a “buy” rating in a research report on Monday. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, PTC Therapeutics has an average rating of “Hold” and a consensus target price of $41.31.

PTC Therapeutics Stock Performance

Shares of NASDAQ PTCT opened at $42.38 on Friday. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of -7.13 and a beta of 0.63. The business has a 50 day simple moving average of $38.03 and a 200 day simple moving average of $35.43. PTC Therapeutics, Inc. has a 52 week low of $19.75 and a 52 week high of $46.98.

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.