Brevan Howard Capital Management LP Buys Shares of 12,197 PTC Therapeutics, Inc. (NASDAQ:PTCT)

Brevan Howard Capital Management LP bought a new stake in shares of 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. The institutional investor bought 12,197 shares of the biopharmaceutical company's stock, valued at approximately $551,000.

Other hedge funds have also recently made changes to their positions in the company. Smartleaf Asset Management LLC boosted its position in shares of PTC Therapeutics by 78.7% in the fourth 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 period. Sterling Capital Management LLC lifted its holdings in shares of PTC Therapeutics by 424.4% in the 4th quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company's stock worth $29,000 after acquiring an additional 522 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in PTC Therapeutics during the 4th quarter valued at about $68,000. R Squared Ltd bought a new stake in shares of PTC Therapeutics in the 4th quarter valued at about $79,000. Finally, KBC Group NV grew 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 buying an additional 813 shares during the last quarter.

Wall Street Analysts Forecast Growth

PTCT has been the topic of several recent research reports. Barclays dropped their price objective on shares of PTC Therapeutics from $56.00 to $42.00 and set an "equal weight" rating on the stock in a report on Thursday, May 8th. Bank of America raised shares of PTC Therapeutics from a "neutral" rating to a "buy" rating and upped their price objective for the company from $55.00 to $68.00 in a report on Friday, May 9th. Scotiabank began coverage on shares of PTC Therapeutics in a research note on Friday, March 7th. They issued a "sector perform" rating and a $55.00 price objective for the company. StockNews.com raised shares of PTC Therapeutics from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 8th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of PTC Therapeutics from $75.00 to $67.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, PTC Therapeutics presently has an average rating of "Moderate Buy" and an average price target of $61.92.

PTC Therapeutics Trading Down 1.2%

Shares of NASDAQ PTCT traded down $0.56 on Thursday, reaching $46.19. 999,567 shares of the company traded hands, compared to its average volume of 859,930. PTC Therapeutics, Inc. has a fifty-two week low of $28.72 and a fifty-two week high of $58.38. The company has a 50 day moving average of $48.62 and a 200 day moving average of $47.09. The stock has a market capitalization of $3.66 billion, a PE ratio of -7.78 and a beta of 0.52.

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

Insider Activity

In other news, Director Stephanie Okey sold 5,000 shares of the firm's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $54.00, for a total value of $270,000.00. Following the transaction, the director now directly owns 8,867 shares in the company, valued at approximately $478,818. This trade represents a 36.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Christine Marie Utter sold 879 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $50.10, for a total transaction of $44,037.90. Following the completion of the transaction, the chief accounting officer now owns 63,442 shares in the company, valued at approximately $3,178,444.20. The trade was a 1.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 32,305 shares of company stock worth $1,682,755. 5.50% of the stock is currently owned by insiders.

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.