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) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 195,000 shares of the biopharmaceutical company’s stock, valued at approximately $7,234,000. Parkman Healthcare Partners LLC owned 0.25% of PTC Therapeutics at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PTCT. Edgestream Partners L.P. grew its holdings in shares of PTC Therapeutics by 37.6% in the 3rd quarter. Edgestream Partners L.P. now owns 30,383 shares of the biopharmaceutical company’s stock worth $1,127,000 after purchasing an additional 8,303 shares during the last quarter. PDT Partners LLC grew its stake in PTC Therapeutics by 18.4% during the third quarter. PDT Partners LLC now owns 165,068 shares of the biopharmaceutical company’s stock worth $6,124,000 after buying an additional 25,688 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of PTC Therapeutics by 6.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,413 shares of the biopharmaceutical company’s stock worth $572,000 after buying an additional 884 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of PTC Therapeutics by 7.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 706,730 shares of the biopharmaceutical company’s stock worth $26,220,000 after acquiring an additional 47,902 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new stake in PTC Therapeutics during the 3rd quarter worth approximately $1,661,000.

PTC Therapeutics Price Performance

Shares of NASDAQ PTCT opened at $50.29 on Wednesday. The business has a fifty day moving average price of $40.80 and a two-hundred day moving average price of $36.57. The stock has a market capitalization of $3.88 billion, a PE ratio of -8.47 and a beta of 0.63. PTC Therapeutics, Inc. has a fifty-two week low of $23.58 and a fifty-two week high of $54.16.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PTCT shares. Morgan Stanley boosted their price objective on PTC Therapeutics from $32.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Friday, October 11th. JPMorgan Chase & Co. increased their price objective on shares of PTC Therapeutics from $51.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. Barclays boosted their target price on shares of PTC Therapeutics from $45.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Wells Fargo & Company raised their price target on PTC Therapeutics from $56.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Finally, Raymond James began coverage on PTC Therapeutics in a report on Thursday, October 10th. They set a “market perform” rating for the company. Three research analysts have rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $51.15.

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.