PTC Therapeutics, Inc. (NASDAQ:PTCT) Shares Bought by Deutsche Bank AG

Key Points

• Deutsche Bank AG significantly increased its stake in PTC Therapeutics, acquiring an additional 247,346 shares, representing a 262.1% growth in their position during the 1st quarter.
• Wall Street analysts have set varied price targets for PTC Therapeutics, with Cantor Fitzgerald raising its target from $112 to $120, while JPMorgan Chase lowered its target from $75 to $67, reflecting mixed sentiments about the stock's performance.
• Insiders, including the CFO and VP of PTC Therapeutics, have sold shares recently, leading to a total of 14,138 shares sold in the last quarter, indicating potential caution among company executives.

Deutsche Bank AG grew its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 262.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 341,724 shares of the biopharmaceutical company's stock after acquiring an additional 247,346 shares during the quarter. Deutsche Bank AG owned about 0.43% of PTC Therapeutics worth $17,414,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PTCT. Sterling Capital Management LLC grew its stake in shares of PTC Therapeutics by 424.4% in the fourth 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. PNC Financial Services Group Inc. grew its stake in shares of PTC Therapeutics by 84.2% in the first quarter. PNC Financial Services Group Inc. now owns 700 shares of the biopharmaceutical company's stock valued at $36,000 after buying an additional 320 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of PTC Therapeutics by 86.3% in the first quarter. GAMMA Investing LLC now owns 952 shares of the biopharmaceutical company's stock valued at $49,000 after buying an additional 441 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of PTC Therapeutics in the fourth quarter valued at about $73,000. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in shares of PTC Therapeutics in the first quarter valued at about $86,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Cantor Fitzgerald increased their target price on PTC Therapeutics from $112.00 to $120.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Citigroup increased their target price on PTC Therapeutics from $40.00 to $50.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Bank of America increased their target price on PTC Therapeutics from $68.00 to $84.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. JPMorgan Chase & Co. lowered their target price 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. Finally, Wells Fargo & Company raised their price objective on PTC Therapeutics from $78.00 to $79.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, PTC Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $70.15.

Insiders Place Their Bets

In other PTC Therapeutics news, CFO Pierre Gravier sold 2,516 shares of the stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $49.46, for a total transaction of $124,441.36. Following the transaction, the chief financial officer owned 71,920 shares of the company's stock, valued at $3,557,163.20. This trade represents a 3.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Mark Elliott Boulding sold 883 shares of the 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 transaction, the vice president directly owned 103,901 shares in the company, valued at approximately $4,781,524.02. This represents a 0.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,138 shares of company stock valued at $720,713 in the last quarter. Insiders own 5.50% of the company's stock.

PTC Therapeutics Stock Up 6.4%

NASDAQ:PTCT opened at $48.17 on Thursday. The business's 50 day moving average is $49.16 and its two-hundred day moving average is $48.92. PTC Therapeutics, Inc. has a 52 week low of $30.41 and a 52 week high of $58.38. The company has a market cap of $3.83 billion, a PE ratio of 6.91 and a beta of 0.54.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last released its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.83) EPS for the quarter, topping analysts' consensus estimates of ($1.07) by $0.24. PTC Therapeutics had a negative return on equity of 106.31% and a net margin of 35.65%. The company had revenue of $178.88 million for the quarter, compared to the consensus estimate of $173.01 million. During the same quarter last year, the business posted ($1.29) EPS. PTC Therapeutics's quarterly revenue was down 4.2% compared to the same quarter last year. As a group, sell-side analysts expect that PTC Therapeutics, Inc. will post -4.52 EPS for the current fiscal year.

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.

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