Millennium Management LLC Has $13.97 Million Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Millennium Management LLC raised its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 41.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 309,423 shares of the biopharmaceutical company's stock after purchasing an additional 89,959 shares during the quarter. Millennium Management LLC owned about 0.40% of PTC Therapeutics worth $13,967,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its position in shares of PTC Therapeutics by 78.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company's stock worth $28,000 after buying an additional 270 shares during the period. Sterling Capital Management LLC grew its holdings in shares of PTC Therapeutics by 424.4% during the 4th quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company's stock worth $29,000 after purchasing an additional 522 shares in the last quarter. Venturi Wealth Management LLC bought a new position in shares of PTC Therapeutics during the 4th quarter worth about $68,000. R Squared Ltd acquired a new stake in PTC Therapeutics in the 4th quarter valued at $79,000. Finally, KBC Group NV boosted its stake 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 buying an additional 813 shares in the last quarter.

PTC Therapeutics Price Performance

PTCT stock traded down $0.11 during mid-day trading on Wednesday, reaching $47.76. The company had a trading volume of 78,641 shares, compared to its average volume of 858,300. PTC Therapeutics, Inc. has a 52 week low of $28.72 and a 52 week high of $58.38. The stock has a 50 day simple moving average of $46.99 and a two-hundred day simple moving average of $47.43. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of -8.05 and a beta of 0.52.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its earnings results on Tuesday, May 6th. The biopharmaceutical company reported $10.04 EPS for the quarter, topping 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 prior year, the firm posted ($1.20) earnings per share. The business's revenue was down 9.6% compared to the same quarter last year. On average, equities analysts predict that PTC Therapeutics, Inc. will post -4.52 EPS for the current year.

Insider Transactions at PTC Therapeutics

In other news, 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 transaction of $63,369.60. Following the completion of the transaction, the director now owns 19,118 shares of the company's stock, valued at approximately $984,959.36. The trade was a 6.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Mark Elliott Boulding sold 883 shares of the business's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $46.02, for a total value of $40,635.66. Following the transaction, the vice president now directly owns 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. In the last three months, insiders sold 28,264 shares of company stock worth $1,469,137. 5.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PTCT. Scotiabank began coverage on PTC Therapeutics in a research report on Friday, March 7th. They issued a "sector perform" rating and a $55.00 target price on the stock. JPMorgan Chase & Co. lowered their price objective on shares of PTC Therapeutics from $75.00 to $67.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Morgan Stanley reiterated an "overweight" rating and issued a $70.00 price objective (up from $67.00) on shares of PTC Therapeutics in a report on Friday, March 7th. Wells Fargo & Company lifted their price objective on shares of PTC Therapeutics from $68.00 to $74.00 and gave the company an "overweight" rating in a report on Tuesday. Finally, Royal Bank of Canada lifted their price objective on shares of PTC Therapeutics from $57.00 to $58.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. One 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 issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $63.75.

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.