Baker BROS. Advisors LP Acquires New Shares in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Baker BROS. Advisors LP acquired a new position in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 20,400 shares of the biopharmaceutical company's stock, valued at approximately $921,000.

Several other hedge funds and other institutional investors have also modified their holdings of PTCT. Smartleaf Asset Management LLC grew its position in PTC Therapeutics by 78.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company's stock worth $28,000 after purchasing an additional 270 shares during the last quarter. Sterling Capital Management LLC increased its stake in PTC Therapeutics by 424.4% during the fourth quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company's stock valued at $29,000 after acquiring an additional 522 shares during the period. Venturi Wealth Management LLC bought a new position in PTC Therapeutics during the fourth quarter valued at about $68,000. R Squared Ltd bought a new stake in shares of PTC Therapeutics in the 4th quarter worth approximately $79,000. Finally, KBC Group NV lifted its position in shares of PTC Therapeutics by 36.4% in the 4th quarter. KBC Group NV now owns 3,045 shares of the biopharmaceutical company's stock worth $137,000 after acquiring an additional 813 shares during the period.

Insider Buying and Selling at PTC Therapeutics

In other news, VP Mark Elliott Boulding sold 15,521 shares of PTC Therapeutics stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $53.30, for a total value of $827,269.30. Following the completion of the sale, the vice president now directly owns 103,901 shares of the company's stock, valued at approximately $5,537,923.30. This trade represents a 13.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Christine Marie Utter sold 879 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total value of $44,037.90. Following the transaction, the chief accounting officer now directly owns 63,442 shares in the company, valued at $3,178,444.20. This trade represents a 1.37 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,305 shares of company stock worth $1,682,755. 5.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PTCT. Royal Bank of Canada upped their target price on PTC Therapeutics from $57.00 to $58.00 and gave the company an "outperform" rating in a research note on Wednesday. JPMorgan Chase & Co. reduced their price objective on shares of PTC Therapeutics from $75.00 to $67.00 and set an "overweight" rating for the company in a report on Wednesday. Citigroup upgraded shares of PTC Therapeutics from a "sell" rating to a "neutral" rating and decreased their target price for the company from $50.00 to $40.00 in a research report on Wednesday. Robert W. Baird cut their price target on shares of PTC Therapeutics from $70.00 to $66.00 and set an "outperform" rating for the company in a research note on Wednesday. Finally, Scotiabank started coverage on PTC Therapeutics in a research note on Friday, March 7th. They issued a "sector perform" rating and a $55.00 price objective on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, PTC Therapeutics presently has a consensus rating of "Moderate Buy" and an average price target of $62.00.

PTC Therapeutics Trading Up 12.6 %

NASDAQ PTCT traded up $4.55 during trading hours on Wednesday, reaching $40.74. 3,105,856 shares of the company's stock were exchanged, compared to its average volume of 842,337. The firm has a fifty day moving average of $49.51 and a 200-day moving average of $46.97. PTC Therapeutics, Inc. has a one year low of $28.72 and a one year high of $58.38. The stock has a market cap of $3.21 billion, a PE ratio of -6.86 and a beta of 0.52.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last announced its earnings results on Tuesday, May 6th. The biopharmaceutical company reported $10.04 EPS for the quarter, topping the consensus estimate of $0.85 by $9.19. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $437.16 million. During the same quarter in the previous year, the company posted ($1.20) EPS. PTC Therapeutics's revenue for the quarter was down 9.6% on a year-over-year basis. As a group, research analysts forecast that PTC Therapeutics, Inc. will post -4.52 EPS for the current year.

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.