6,925 Shares in PTC Therapeutics, Inc. (NASDAQ:PTCT) Purchased by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC purchased a new stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 6,925 shares of the biopharmaceutical company's stock, valued at approximately $353,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in PTC Therapeutics by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 9,178,822 shares of the biopharmaceutical company's stock valued at $414,332,000 after buying an additional 53,688 shares during the period. Toronto Dominion Bank purchased a new position in shares of PTC Therapeutics during the 4th quarter worth $148,363,000. Janus Henderson Group PLC boosted its stake in shares of PTC Therapeutics by 24.4% during the 4th quarter. Janus Henderson Group PLC now owns 2,325,915 shares of the biopharmaceutical company's stock worth $105,015,000 after acquiring an additional 455,698 shares during the last quarter. Point72 Asset Management L.P. grew its position in shares of PTC Therapeutics by 150.6% during the 4th quarter. Point72 Asset Management L.P. now owns 1,443,362 shares of the biopharmaceutical company's stock valued at $65,153,000 after acquiring an additional 867,502 shares during the period. Finally, Nuveen Asset Management LLC increased its stake in shares of PTC Therapeutics by 34.0% in the 4th quarter. Nuveen Asset Management LLC now owns 1,077,794 shares of the biopharmaceutical company's stock worth $48,652,000 after purchasing an additional 273,638 shares in the last quarter.

Insider Transactions at PTC Therapeutics

In other PTC Therapeutics news, EVP Lee Scott Golden sold 897 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $46.95, for a total transaction of $42,114.15. Following the completion of the transaction, the executive vice president now owns 75,997 shares in the company, valued at $3,568,059.15. This trade represents a 1.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Mark Elliott Boulding sold 883 shares of the company's stock in a transaction that occurred 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 sale, the vice president now directly owns 103,901 shares in the company, valued at $4,781,524.02. This trade represents a 0.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,513 shares of company stock valued at $308,498. 5.50% of the stock is currently owned by insiders.

PTC Therapeutics Price Performance

Shares of PTCT stock traded up $0.28 during mid-day trading on Friday, hitting $51.26. The company had a trading volume of 750,739 shares, compared to its average volume of 867,779. PTC Therapeutics, Inc. has a 52-week low of $28.72 and a 52-week high of $58.38. The stock's 50 day moving average price is $46.81 and its 200-day moving average price is $48.06. The company has a market capitalization of $4.06 billion, a P/E ratio of -8.63 and a beta of 0.51.

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 (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. During the same quarter in the prior year, the firm posted ($1.20) earnings per share. The business's revenue was down 9.6% on a year-over-year basis. On average, equities research analysts expect that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PTCT shares. Morgan Stanley reiterated an "overweight" rating and set a $70.00 target price (up from $67.00) on shares of PTC Therapeutics in a research report on Friday, March 7th. Cantor Fitzgerald decreased their price objective on PTC Therapeutics from $113.00 to $112.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. Wall Street Zen downgraded PTC Therapeutics from a "strong-buy" rating to a "buy" rating in a research note on Friday, May 16th. Bank of America raised shares of PTC Therapeutics from a "neutral" rating to a "buy" rating and increased their target price for the stock from $55.00 to $68.00 in a report on Friday, May 9th. Finally, Royal Bank of Canada lifted their price target 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 equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $63.75.

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.