Deutsche Bank AG Boosts Stake in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Deutsche Bank AG boosted its stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 92.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 94,378 shares of the biopharmaceutical company's stock after buying an additional 45,310 shares during the period. Deutsche Bank AG owned 0.12% of PTC Therapeutics worth $4,260,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Driehaus Capital Management LLC purchased a new stake in PTC Therapeutics during the fourth quarter worth $46,993,000. Cubist Systematic Strategies LLC lifted its holdings in PTC Therapeutics by 133.1% during the fourth quarter. Cubist Systematic Strategies LLC now owns 141,410 shares of the biopharmaceutical company's stock worth $6,383,000 after buying an additional 80,736 shares during the period. Brevan Howard Capital Management LP purchased a new stake in PTC Therapeutics during the fourth quarter worth $551,000. Baker BROS. Advisors LP purchased a new stake in PTC Therapeutics during the fourth quarter worth $921,000. Finally, Bellevue Group AG purchased a new stake in PTC Therapeutics during the fourth quarter worth $172,000.

Insiders Place Their Bets

In other news, 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 sale, the chief accounting officer now directly owns 63,442 shares in the company, valued at $3,178,444.20. This trade represents a 1.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Allan Steven Jacobson sold 1,230 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $51.52, for a total value of $63,369.60. Following the sale, the director now owns 19,118 shares in the company, valued at $984,959.36. This trade represents a 6.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,117 shares of company stock valued at $1,812,472. Company insiders own 5.50% of the company's stock.

PTC Therapeutics Stock Performance

Shares of PTCT opened at $46.96 on Tuesday. The business's 50-day moving average is $48.09 and its two-hundred day moving average is $47.29. The company has a market capitalization of $3.72 billion, a P/E ratio of -7.91 and a beta of 0.52. PTC Therapeutics, Inc. has a fifty-two week low of $28.72 and a fifty-two week high of $58.38.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported $10.04 earnings per share for the quarter, topping the consensus estimate of $0.85 by $9.19. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $437.16 million. PTC Therapeutics's revenue for the quarter was down 9.6% on a year-over-year basis. During the same period in the prior year, the business posted ($1.20) earnings per share. Analysts forecast that PTC Therapeutics, Inc. will post -4.52 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on PTCT shares. Cantor Fitzgerald decreased their price objective on PTC Therapeutics from $113.00 to $112.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. Bank of America upgraded PTC Therapeutics from a "neutral" rating to a "buy" rating and increased their price objective for the company from $55.00 to $68.00 in a report on Friday, May 9th. Citigroup upgraded PTC Therapeutics from a "sell" rating to a "neutral" rating and decreased their price objective for the company from $50.00 to $40.00 in a report on Wednesday, May 7th. Royal Bank of Canada increased their price objective on PTC Therapeutics from $57.00 to $58.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Finally, Scotiabank started coverage on PTC Therapeutics in a report on Friday, March 7th. They set a "sector perform" rating and a $55.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $61.92.

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.

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