PTC Therapeutics, Inc. (NASDAQ:PTCT) Stake Increased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 19.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 160,251 shares of the biopharmaceutical company's stock after acquiring an additional 26,274 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.21% of PTC Therapeutics worth $7,234,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in PTCT. Smartleaf Asset Management LLC increased its holdings in PTC Therapeutics by 78.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company's stock valued at $28,000 after acquiring an additional 270 shares in the last quarter. Sterling Capital Management LLC increased its holdings in PTC Therapeutics by 424.4% during the 4th quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company's stock valued at $29,000 after acquiring an additional 522 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in PTC Therapeutics during the 4th quarter valued at about $68,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of PTC Therapeutics during the fourth quarter worth about $77,000. Finally, KBC Group NV grew its holdings in shares of PTC Therapeutics by 36.4% during the fourth quarter. KBC Group NV now owns 3,045 shares of the biopharmaceutical company's stock worth $137,000 after buying an additional 813 shares in the last quarter.

PTC Therapeutics Price Performance

PTCT stock traded up $0.63 during midday trading on Wednesday, reaching $51.32. 822,471 shares of the company's stock traded hands, compared to its average volume of 862,483. The company has a market capitalization of $4.07 billion, a P/E ratio of -8.64 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 business has a 50-day moving average price of $46.27 and a two-hundred day moving average price of $47.63.

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 for the quarter, beating analysts' consensus estimates of $0.85 by $9.19. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $437.16 million. The company's quarterly revenue was down 9.6% on a year-over-year basis. During the same period last year, the firm earned ($1.20) earnings per share. As a group, research analysts forecast that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PTCT. JPMorgan Chase & Co. lowered their price target 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. Wells Fargo & Company lifted their price target on shares of PTC Therapeutics from $68.00 to $74.00 and gave the stock an "overweight" rating in a report on Tuesday, May 27th. Bank of America upgraded shares of PTC Therapeutics from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $55.00 to $68.00 in a report on Friday, May 9th. Citigroup upgraded shares of PTC Therapeutics from a "sell" rating to a "neutral" rating and lowered their price target for the stock from $50.00 to $40.00 in a report on Wednesday, May 7th. Finally, Royal Bank of Canada lifted their price target on shares of PTC Therapeutics from $57.00 to $58.00 and gave the stock 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $63.75.

Insider Buying and Selling at PTC Therapeutics

In other news, EVP Lee Scott Golden sold 897 shares of PTC Therapeutics stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $46.95, for a total transaction of $42,114.15. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Mark Elliott Boulding sold 15,521 shares of PTC Therapeutics stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $53.30, for a total transaction of $827,269.30. Following the completion of the sale, the vice president now owns 103,901 shares of the company's stock, valued at approximately $5,537,923.30. This trade represents a 13.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,034 shares of company stock valued at $1,405,767 over the last ninety days. Corporate insiders own 5.50% of the company's stock.

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.