Lazard Asset Management LLC Has $2.06 Million Stock Holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Lazard Asset Management LLC lifted its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 294.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,647 shares of the biopharmaceutical company's stock after purchasing an additional 34,069 shares during the quarter. Lazard Asset Management LLC owned approximately 0.06% of PTC Therapeutics worth $2,059,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Smartleaf Asset Management LLC boosted its stake in PTC Therapeutics by 78.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company's stock valued at $28,000 after buying an additional 270 shares in the last quarter. Sterling Capital Management LLC boosted its stake in PTC Therapeutics by 424.4% in the 4th quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company's stock valued at $29,000 after buying an additional 522 shares in the last quarter. Venturi Wealth Management LLC bought a new position in PTC Therapeutics in the 4th quarter valued at $68,000. R Squared Ltd bought a new position in PTC Therapeutics in the 4th quarter valued at $79,000. Finally, KBC Group NV raised its position in PTC Therapeutics by 36.4% in the 4th quarter. KBC Group NV now owns 3,045 shares of the biopharmaceutical company's stock valued at $137,000 after purchasing an additional 813 shares during the last quarter.

PTC Therapeutics Stock Up 0.9%

NASDAQ PTCT traded up $0.41 on Friday, reaching $45.93. The company had a trading volume of 782,553 shares, compared to its average volume of 857,058. The stock's 50 day moving average is $47.39 and its 200-day moving average is $47.35. The stock has a market cap of $3.64 billion, a price-to-earnings ratio of -7.73 and a beta of 0.52. PTC Therapeutics, Inc. has a 52 week low of $28.72 and a 52 week high of $58.38.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported $10.04 EPS for the quarter, beating analysts' consensus estimates of $0.85 by $9.19. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $437.16 million. The company's revenue for the quarter was down 9.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.20) EPS. As a group, analysts forecast that PTC Therapeutics, Inc. will post -4.52 EPS for the current year.

Analysts Set New Price Targets

PTCT has been the subject of several research analyst reports. Cantor Fitzgerald cut their price objective on PTC Therapeutics from $113.00 to $112.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Robert W. Baird cut their price objective 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. Royal Bank of Canada lifted their price objective on PTC Therapeutics from $57.00 to $58.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Barclays cut their price objective on PTC Therapeutics from $56.00 to $42.00 and set an "equal weight" rating for the company in a research report on Thursday, May 8th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $70.00 price objective (up previously from $67.00) on shares of PTC Therapeutics in a research report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $63.25.

Insider Buying and Selling at PTC Therapeutics

In other PTC Therapeutics news, Director Stephanie Okey sold 5,000 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was 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 approximately $478,818. The trade was a 36.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Mark Elliott Boulding sold 883 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $46.02, for a total value of $40,635.66. Following the completion of the transaction, the vice president now directly owns 103,901 shares of the company's stock, valued at approximately $4,781,524.02. The trade was a 0.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,264 shares of company stock valued at $1,469,137. Company insiders own 5.50% of the company's stock.

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.