Driehaus Capital Management LLC Acquires Shares of 1,041,059 PTC Therapeutics, Inc. (NASDAQ:PTCT)

Driehaus Capital Management LLC bought a new stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,041,059 shares of the biopharmaceutical company's stock, valued at approximately $46,993,000. Driehaus Capital Management LLC owned approximately 1.35% of PTC Therapeutics as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC increased its stake in PTC Therapeutics by 78.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company's stock valued at $28,000 after purchasing an additional 270 shares in the last quarter. Sterling Capital Management LLC lifted its position 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 purchasing an additional 522 shares during the period. Venturi Wealth Management LLC bought a new stake in shares of PTC Therapeutics during the 4th quarter valued at about $68,000. R Squared Ltd bought a new stake in shares of PTC Therapeutics during the 4th quarter valued at $79,000. Finally, KBC Group NV raised its stake in shares of PTC Therapeutics by 36.4% in the fourth 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 period.

Wall Street Analysts Forecast Growth

PTCT has been the topic of a number of research analyst reports. 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 report on Wednesday, May 7th. Citigroup upgraded PTC Therapeutics from a "sell" rating to a "neutral" rating and lowered their target price for the company from $50.00 to $40.00 in a research report on Wednesday, May 7th. Scotiabank assumed coverage on shares of PTC Therapeutics in a research note on Friday, March 7th. They set a "sector perform" rating and a $55.00 price target on the stock. Robert W. Baird lowered their price target on PTC Therapeutics from $70.00 to $66.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Finally, Bank of America raised PTC Therapeutics from a "neutral" rating to a "buy" rating and raised their price target for the stock from $55.00 to $68.00 in a research note on Friday. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $61.92.

Insider Buying and Selling at PTC Therapeutics

In other news, EVP Lee Scott Golden sold 897 shares of PTC Therapeutics stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $46.95, for a total transaction of $42,114.15. Following the completion of the sale, the executive vice president now owns 75,997 shares in the company, valued at $3,568,059.15. The trade was a 1.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Matthew B. Klein sold 2,804 shares of the company's stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $48.74, for a total value of $136,666.96. Following the completion of the sale, the chief executive officer now owns 273,234 shares of the company's stock, valued at $13,317,425.16. This represents a 1.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,305 shares of company stock valued at $1,682,755 in the last 90 days. 5.50% of the stock is currently owned by insiders.

PTC Therapeutics Price Performance

Shares of PTCT stock traded up $0.01 on Tuesday, hitting $46.02. 459,665 shares of the stock traded hands, compared to its average volume of 854,157. The company's fifty day moving average is $48.74 and its 200 day moving average is $47.10. PTC Therapeutics, Inc. has a 1-year low of $28.72 and a 1-year high of $58.38. The company has a market capitalization of $3.65 billion, a PE ratio of -7.75 and a beta of 0.52.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last released its 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 firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $437.16 million. The business's revenue for the quarter was down 9.6% on a year-over-year basis. During the same quarter last year, the company earned ($1.20) earnings per share. As a group, equities research analysts expect that PTC Therapeutics, Inc. will post -4.52 EPS for the current 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.