Canada Pension Plan Investment Board Buys New Holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Canada Pension Plan Investment Board bought a new position in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 23,500 shares of the biopharmaceutical company's stock, valued at approximately $1,061,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vontobel Holding Ltd. acquired a new stake in shares of PTC Therapeutics in the fourth quarter valued at $521,000. Raymond James Financial Inc. bought a new stake in PTC Therapeutics in the fourth quarter worth about $2,200,000. Natixis Advisors LLC acquired a new stake in PTC Therapeutics in the 4th quarter valued at about $544,000. Proficio Capital Partners LLC bought a new position in shares of PTC Therapeutics during the 4th quarter valued at about $758,000. Finally, American Century Companies Inc. grew its stake in shares of PTC Therapeutics by 66.8% in the 4th quarter. American Century Companies Inc. now owns 60,150 shares of the biopharmaceutical company's stock worth $2,715,000 after purchasing an additional 24,090 shares during the last quarter.

Insider Activity at PTC Therapeutics

In other PTC Therapeutics news, CEO Matthew B. Klein sold 2,804 shares of PTC Therapeutics stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $48.74, for a total value of $136,666.96. Following the transaction, the chief executive officer now directly owns 273,234 shares of the company's stock, valued at $13,317,425.16. The trade was a 1.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Mark Elliott Boulding sold 15,521 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $53.30, for a total transaction of $827,269.30. Following the transaction, the vice president now directly owns 103,901 shares in the company, valued at $5,537,923.30. This trade represents a 13.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,305 shares of company stock valued at $1,682,755. Insiders own 5.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PTCT shares. StockNews.com lowered shares of PTC Therapeutics from a "buy" rating to a "hold" rating in a research report on Monday, February 17th. Cantor Fitzgerald lifted their target price on PTC Therapeutics from $76.00 to $113.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Morgan Stanley reaffirmed an "overweight" rating and set a $70.00 target price (up from $67.00) on shares of PTC Therapeutics in a report on Friday, March 7th. Scotiabank initiated coverage on PTC Therapeutics in a research report on Friday, March 7th. They issued a "sector perform" rating and a $55.00 price target for the company. Finally, Royal Bank of Canada restated an "outperform" rating and set a $65.00 price objective on shares of PTC Therapeutics in a report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $63.92.

PTC Therapeutics Stock Performance

Shares of PTCT stock traded up $0.32 during trading on Wednesday, hitting $49.84. 1,206,672 shares of the company were exchanged, compared to its average volume of 802,212. PTC Therapeutics, Inc. has a twelve month low of $28.72 and a twelve month high of $58.38. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of -8.39 and a beta of 0.58. The business's 50-day simple moving average is $50.02 and its 200 day simple moving average is $46.74.

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.