PTC Therapeutics, Inc. (NASDAQ:PTCT) Stock Holdings Lifted by Mackenzie Financial Corp

Mackenzie Financial Corp grew its position in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 132.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,776 shares of the biopharmaceutical company's stock after buying an additional 12,967 shares during the quarter. Mackenzie Financial Corp's holdings in PTC Therapeutics were worth $1,028,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in PTCT. Vontobel Holding Ltd. acquired a new position in shares of PTC Therapeutics during the 4th quarter worth approximately $521,000. Raymond James Financial Inc. acquired a new stake in shares of PTC Therapeutics during the 4th quarter worth about $2,200,000. Natixis Advisors LLC purchased a new stake in shares of PTC Therapeutics during the fourth quarter worth about $544,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of PTC Therapeutics by 49.2% in the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 46,894 shares of the biopharmaceutical company's stock valued at $2,117,000 after buying an additional 15,459 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in shares of PTC Therapeutics during the fourth quarter valued at approximately $758,000.

Insider Activity

In other news, Director Stephanie Okey sold 5,000 shares of PTC Therapeutics stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $54.00, for a total transaction of $270,000.00. Following the sale, the director now 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 filing with the SEC, which is accessible through the SEC website. Also, Director Allan Steven Jacobson sold 1,230 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $51.52, for a total value of $63,369.60. Following the transaction, the director now owns 19,118 shares of the company's stock, valued at $984,959.36. This trade represents a 6.04% decrease in their position. 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. 5.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PTCT. Royal Bank of Canada increased their price target on PTC Therapeutics from $57.00 to $58.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. lowered their target price on shares of PTC Therapeutics from $75.00 to $67.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. Wall Street Zen cut shares of PTC Therapeutics from a "strong-buy" rating to a "buy" rating in a research note on Friday, May 16th. Citigroup raised PTC Therapeutics from a "sell" rating to a "neutral" rating and cut their target price for the stock from $50.00 to $40.00 in a research report on Wednesday, May 7th. Finally, Robert W. Baird dropped their price target on PTC Therapeutics from $70.00 to $66.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, PTC Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $63.75.

PTC Therapeutics Stock Performance

Shares of PTC Therapeutics stock traded down $0.07 during trading on Friday, reaching $48.82. The company had a trading volume of 790,857 shares, compared to its average volume of 861,055. The company has a market cap of $3.87 billion, a price-to-earnings ratio of -8.22 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. The firm's fifty day moving average is $46.48 and its 200-day moving average is $47.54.

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, beating the consensus estimate of $0.85 by $9.19. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $437.16 million. During the same quarter in the previous year, the firm earned ($1.20) EPS. The firm's revenue for the quarter was down 9.6% on a year-over-year basis. On average, research analysts anticipate that PTC Therapeutics, Inc. will post -4.52 EPS for the current fiscal year.

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.