Baker BROS. Advisors LP Takes $921,000 Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

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

A number of other hedge funds have also recently modified their holdings of PTCT. Vanguard Group Inc. grew its stake in shares of PTC Therapeutics by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 9,178,822 shares of the biopharmaceutical company's stock worth $414,332,000 after purchasing an additional 53,688 shares during the period. Pictet Asset Management Holding SA boosted its stake in shares of PTC Therapeutics by 107.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 736,388 shares of the biopharmaceutical company's stock worth $33,241,000 after acquiring an additional 381,319 shares in the last quarter. Northern Trust Corp grew its position in shares of PTC Therapeutics by 7.8% during the 4th quarter. Northern Trust Corp now owns 727,976 shares of the biopharmaceutical company's stock valued at $32,861,000 after acquiring an additional 52,714 shares during the period. Renaissance Technologies LLC raised its holdings in PTC Therapeutics by 21.3% in the 4th quarter. Renaissance Technologies LLC now owns 653,100 shares of the biopharmaceutical company's stock worth $29,481,000 after purchasing an additional 114,900 shares during the period. Finally, Alliancebernstein L.P. grew its holdings in PTC Therapeutics by 62.9% in the fourth quarter. Alliancebernstein L.P. now owns 361,644 shares of the biopharmaceutical company's stock valued at $16,325,000 after purchasing an additional 139,596 shares during the period.

Insider Buying and Selling

In other news, CEO Eric Pauwels sold 1,378 shares of the firm'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 $69,037.80. Following the sale, the chief executive officer now directly owns 85,427 shares in the company, valued at approximately $4,279,892.70. This trade represents a 1.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Christine Marie Utter sold 879 shares of the 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 completion of 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. Insiders have sold a total of 32,305 shares of company stock valued at $1,682,755 in the last ninety days. Company insiders own 5.50% of the company's stock.

Wall Street Analysts Forecast Growth

PTCT has been the topic of a number of research analyst reports. Morgan Stanley reissued an "overweight" rating and issued a $70.00 price target (up previously from $67.00) on shares of PTC Therapeutics in a research note on Friday, March 7th. Bank of America upgraded PTC Therapeutics from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $55.00 to $68.00 in a research note on Friday. Royal Bank of Canada boosted their price target on PTC Therapeutics from $57.00 to $58.00 and gave the stock an "outperform" rating in a research report on Wednesday. Barclays lowered their target price on shares of PTC Therapeutics from $56.00 to $42.00 and set an "equal weight" rating on the stock in a research note on Thursday. Finally, Citigroup raised shares of PTC Therapeutics from a "sell" rating to a "neutral" rating and decreased their target price for the stock from $50.00 to $40.00 in a research note on Wednesday. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $61.92.

PTC Therapeutics Price Performance

Shares of NASDAQ:PTCT traded up $2.28 during mid-day trading on Friday, reaching $44.79. 964,474 shares of the company were exchanged, compared to its average volume of 849,043. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of -7.54 and a beta of 0.52. PTC Therapeutics, Inc. has a 1 year low of $28.72 and a 1 year high of $58.38. The firm's 50-day simple moving average is $49.01 and its 200 day simple moving average is $46.96.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported $10.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $9.19. The firm had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $437.16 million. PTC Therapeutics's quarterly revenue was down 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.20) EPS. On average, research analysts forecast that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

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.