PTC Therapeutics, Inc. (NASDAQ:PTCT) Stock Holdings Lifted by GAMMA Investing LLC

GAMMA Investing LLC increased its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 9,393.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 48,514 shares of the biopharmaceutical company's stock after acquiring an additional 48,003 shares during the quarter. GAMMA Investing LLC owned approximately 0.06% of PTC Therapeutics worth $2,472,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Smartleaf Asset Management LLC grew its stake in 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 purchasing an additional 270 shares in the last quarter. Sterling Capital Management LLC grew its stake in PTC Therapeutics by 424.4% in the fourth 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 acquired a new position in PTC Therapeutics in the fourth quarter worth about $68,000. GF Fund Management CO. LTD. acquired a new position in PTC Therapeutics in the fourth quarter worth about $73,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in PTC Therapeutics in the fourth quarter worth about $77,000.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PTCT. Royal Bank of Canada lifted 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. decreased their price target on PTC Therapeutics from $75.00 to $67.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. Scotiabank initiated coverage on shares of PTC Therapeutics in a report on Friday, March 7th. They issued a "sector perform" rating and a $55.00 target price on the stock. Cantor Fitzgerald cut their target price on shares of PTC Therapeutics from $113.00 to $112.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Finally, Citigroup raised shares of 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 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 issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $63.75.

Insider Buying and Selling

In related news, VP Mark Elliott Boulding sold 883 shares of the business'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 transaction of $40,635.66. Following the sale, the vice president now owns 103,901 shares of the company's stock, valued at $4,781,524.02. The trade was a 0.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lee Scott Golden sold 897 shares of the business'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 value of $42,114.15. Following the sale, the executive vice president now directly owns 75,997 shares in the company, valued at approximately $3,568,059.15. The trade was a 1.17% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,513 shares of company stock valued at $308,498 over the last quarter. Corporate insiders own 5.50% of the company's stock.

PTC Therapeutics Trading Up 1.2%

PTCT stock traded up $0.61 during trading on Monday, hitting $51.87. The company had a trading volume of 932,620 shares, compared to its average volume of 868,532. The business has a 50 day moving average of $47.29 and a 200 day moving average of $48.20. The firm has a market capitalization of $4.11 billion, a price-to-earnings ratio of -8.73 and a beta of 0.51. 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 issued its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported $10.04 earnings per share for the quarter, topping analysts' consensus estimates of $0.85 by $9.19. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $437.16 million. During the same period in the prior year, the company posted ($1.20) earnings per share. The company's revenue was down 9.6% on a year-over-year basis. As a group, equities analysts predict that PTC Therapeutics, Inc. will post -4.52 EPS for the current 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.