12,197 Shares in PTC Therapeutics, Inc. (NASDAQ:PTCT) Acquired by Brevan Howard Capital Management LP

Brevan Howard Capital Management LP acquired a new position in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 12,197 shares of the biopharmaceutical company's stock, valued at approximately $551,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pictet Asset Management Holding SA boosted its holdings in PTC Therapeutics by 107.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 736,388 shares of the biopharmaceutical company's stock worth $33,241,000 after buying an additional 381,319 shares during the last quarter. Alliancebernstein L.P. grew its holdings in PTC Therapeutics by 62.9% during 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. Renaissance Technologies LLC increased its stake in PTC Therapeutics by 21.3% in the fourth quarter. Renaissance Technologies LLC now owns 653,100 shares of the biopharmaceutical company's stock valued at $29,481,000 after purchasing an additional 114,900 shares in the last quarter. Walleye Capital LLC bought a new stake in PTC Therapeutics in the fourth quarter valued at approximately $4,966,000. Finally, Dimensional Fund Advisors LP acquired a new stake in PTC Therapeutics in the fourth quarter worth $4,742,000.

Analyst Ratings Changes

Several analysts recently commented on the company. JPMorgan Chase & Co. dropped their price objective on PTC Therapeutics from $75.00 to $67.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. Royal Bank of Canada raised 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, May 7th. StockNews.com upgraded PTC Therapeutics from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 8th. Cantor Fitzgerald dropped their target price on shares of PTC Therapeutics from $113.00 to $112.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Finally, Scotiabank assumed 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 target on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $61.92.

Insider Activity

In other PTC Therapeutics news, VP Mark Elliott Boulding sold 15,521 shares of the company's stock in a transaction dated 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 transaction, the vice president now owns 103,901 shares of the company's stock, valued at $5,537,923.30. This represents a 13.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Stephanie Okey sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $54.00, for a total value of $270,000.00. Following the completion of the transaction, the director now directly owns 8,867 shares of the company's stock, valued at $478,818. This represents a 36.06% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,305 shares of company stock worth $1,682,755. Corporate insiders own 5.50% of the company's stock.

PTC Therapeutics Stock Performance

Shares of PTC Therapeutics stock traded up $0.38 on Tuesday, reaching $46.39. 1,078,746 shares of the stock were exchanged, compared to its average volume of 856,310. The firm has a market cap of $3.68 billion, a PE ratio of -7.81 and a beta of 0.52. The firm's 50 day moving average is $48.74 and its 200-day moving average is $47.10. PTC Therapeutics, Inc. has a one year low of $28.72 and a one year high of $58.38.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $437.16 million. During the same quarter in the previous year, the business posted ($1.20) EPS. The company's revenue for the quarter was down 9.6% on a year-over-year basis. On average, equities research analysts expect that PTC Therapeutics, Inc. will post -4.52 EPS for the current fiscal year.

About PTC Therapeutics

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.