Ameriprise Financial Inc. Sells 26,126 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

Ameriprise Financial Inc. trimmed its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 37.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,934 shares of the biopharmaceutical company's stock after selling 26,126 shares during the period. Ameriprise Financial Inc. owned about 0.06% of PTC Therapeutics worth $1,938,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Transactions at PTC Therapeutics

In other 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 value of $40,635.66. Following the transaction, the vice president now owns 103,901 shares in the company, valued at $4,781,524.02. The trade was a 0.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephanie Okey sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $54.00, for a total value of $270,000.00. Following the completion of the transaction, the director now owns 8,867 shares in the company, valued at approximately $478,818. The trade was a 36.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,034 shares of company stock worth $1,405,767 in the last 90 days. Insiders own 5.50% of the company's stock.

PTC Therapeutics Stock Performance

PTCT traded up $2.07 during midday trading on Tuesday, reaching $50.90. 630,171 shares of the company were exchanged, compared to its average volume of 861,629. The company's fifty day moving average price is $46.35 and its 200 day moving average price is $47.61. The company has a market cap of $4.03 billion, a price-to-earnings ratio of -8.57 and a beta of 0.52. PTC Therapeutics, Inc. has a one year low of $28.72 and a one year high of $58.38.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported $10.04 EPS for the quarter, topping analysts' consensus estimates of $0.85 by $9.19. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $437.16 million. The business's revenue for the quarter was down 9.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.20) earnings per share. As a group, sell-side analysts anticipate that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Scotiabank assumed coverage on PTC Therapeutics in a research report on Friday, March 7th. They set a "sector perform" rating and a $55.00 price objective for the company. JPMorgan Chase & Co. lowered their price objective on PTC Therapeutics from $75.00 to $67.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. Morgan Stanley reaffirmed an "overweight" rating and issued a $70.00 target price (up previously from $67.00) on shares of PTC Therapeutics in a report on Friday, March 7th. Wall Street Zen downgraded PTC Therapeutics from a "strong-buy" rating to a "buy" rating in a report on Friday, May 16th. Finally, Robert W. Baird cut their target price on PTC Therapeutics from $70.00 to $66.00 and set an "outperform" rating on the stock 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus 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.