Cerity Partners LLC Takes Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Cerity Partners LLC bought a new stake in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 12,581 shares of the biopharmaceutical company's stock, valued at approximately $641,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of PTC Therapeutics by 0.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,681 shares of the biopharmaceutical company's stock worth $2,967,000 after buying an additional 205 shares during the last quarter. Summit Investment Advisors Inc. raised its stake in shares of PTC Therapeutics by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,968 shares of the biopharmaceutical company's stock worth $360,000 after buying an additional 253 shares during the last quarter. Diversified Trust Co raised its stake in shares of PTC Therapeutics by 2.0% during the 1st quarter. Diversified Trust Co now owns 17,147 shares of the biopharmaceutical company's stock worth $874,000 after buying an additional 329 shares during the last quarter. GF Fund Management CO. LTD. raised its stake in shares of PTC Therapeutics by 21.9% during the 1st quarter. GF Fund Management CO. LTD. now owns 1,974 shares of the biopharmaceutical company's stock worth $101,000 after buying an additional 355 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of PTC Therapeutics by 86.3% during the 1st quarter. GAMMA Investing LLC now owns 952 shares of the biopharmaceutical company's stock worth $49,000 after buying an additional 441 shares during the last quarter.

Wall Street Analysts Forecast Growth

PTCT has been the subject of several research reports. Cantor Fitzgerald cut their price target on PTC Therapeutics from $113.00 to $112.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. Barclays cut their target price on shares of PTC Therapeutics from $56.00 to $42.00 and set an "equal weight" rating for the company in a research note on Thursday, May 8th. Truist Financial assumed coverage on shares of PTC Therapeutics in a research note on Tuesday, June 17th. They issued a "buy" rating and a $80.00 target price for the company. JPMorgan Chase & Co. cut their target price on shares of PTC Therapeutics from $75.00 to $67.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. Finally, Royal Bank Of Canada boosted their target price on shares of PTC Therapeutics from $57.00 to $58.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $65.00.

PTC Therapeutics Stock Performance

Shares of NASDAQ:PTCT traded down $1.58 during trading on Friday, reaching $44.74. 1,287,660 shares of the stock were exchanged, compared to its average volume of 881,089. PTC Therapeutics, Inc. has a 12-month low of $29.01 and a 12-month high of $58.38. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of 6.87 and a beta of 0.50. The firm's 50-day moving average price is $48.89 and its 200 day moving average price is $48.51.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its earnings results on Tuesday, May 6th. The biopharmaceutical company reported $10.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.85 by $9.19. The business had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $437.16 million. PTC Therapeutics had a negative return on equity of 78.56% and a net margin of 33.56%. The company's revenue for the quarter was down 9.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.20) EPS. As a group, equities research analysts forecast that PTC Therapeutics, Inc. will post -4.52 EPS for the current year.

Insider Activity at PTC Therapeutics

In other PTC Therapeutics news, CFO Pierre Gravier sold 2,516 shares of the stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $49.46, for a total value of $124,441.36. Following the completion of the sale, the chief financial officer owned 71,920 shares of the company's stock, valued at $3,557,163.20. This trade represents a 3.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Mark Elliott Boulding sold 883 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $46.02, for a total transaction of $40,635.66. Following the completion of the sale, the vice president directly owned 103,901 shares of the company's stock, valued at $4,781,524.02. This trade represents a 0.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,328 shares of company stock valued at $254,158 in the last ninety days. 5.50% of the stock is owned by corporate insiders.

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.