Nuveen Asset Management LLC Acquires 273,638 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

Nuveen Asset Management LLC increased its stake in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 34.0% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,077,794 shares of the biopharmaceutical company's stock after buying an additional 273,638 shares during the quarter. Nuveen Asset Management LLC owned 1.40% of PTC Therapeutics worth $48,652,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of PTC Therapeutics by 49.2% in the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 46,894 shares of the biopharmaceutical company's stock worth $2,117,000 after purchasing an additional 15,459 shares during the last quarter. Millennium Management LLC increased its position in shares of PTC Therapeutics by 41.0% in the fourth quarter. Millennium Management LLC now owns 309,423 shares of the biopharmaceutical company's stock worth $13,967,000 after purchasing an additional 89,959 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of PTC Therapeutics by 0.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,681 shares of the biopharmaceutical company's stock worth $2,967,000 after purchasing an additional 205 shares during the last quarter. Lazard Asset Management LLC increased its position in shares of PTC Therapeutics by 294.3% in the fourth quarter. Lazard Asset Management LLC now owns 45,647 shares of the biopharmaceutical company's stock worth $2,059,000 after purchasing an additional 34,069 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of PTC Therapeutics by 24.4% in the fourth quarter. Janus Henderson Group PLC now owns 2,325,915 shares of the biopharmaceutical company's stock worth $105,015,000 after purchasing an additional 455,698 shares during the last quarter.

Insider Transactions at PTC Therapeutics

In related news, EVP Lee Scott Golden sold 897 shares of the firm's stock in a transaction 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 sale, the executive vice president now owns 75,997 shares of the company's stock, valued at $3,568,059.15. This trade represents a 1.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Mark Elliott Boulding sold 883 shares of PTC Therapeutics stock in a transaction dated 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 directly owns 103,901 shares in the company, valued at $4,781,524.02. The trade was a 0.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,264 shares of company stock valued at $1,469,137. 5.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on PTCT. Royal Bank of Canada increased their price objective on PTC Therapeutics from $57.00 to $58.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Bank of America upgraded PTC Therapeutics from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $55.00 to $68.00 in a report on Friday, May 9th. Robert W. Baird dropped their price target on shares of PTC Therapeutics from $70.00 to $66.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Cantor Fitzgerald dropped their price target 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, Barclays dropped their price objective on shares of PTC Therapeutics from $56.00 to $42.00 and set an "equal weight" rating on the stock in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $63.25.

PTC Therapeutics Stock Up 0.9%

Shares of PTC Therapeutics stock traded up $0.41 on Friday, hitting $45.93. 782,553 shares of the company's stock traded hands, compared to its average volume of 858,329. The firm's 50-day moving average is $47.39 and its 200 day moving average is $47.41. PTC Therapeutics, Inc. has a 52-week low of $28.72 and a 52-week high of $58.38. The stock has a market cap of $3.64 billion, a P/E ratio of -7.73 and a beta of 0.52.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its earnings results on Tuesday, May 6th. The biopharmaceutical company reported $10.04 earnings per share for the quarter, topping the consensus estimate 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. PTC Therapeutics's quarterly revenue was down 9.6% on a year-over-year basis. During the same period in the prior year, the business earned ($1.20) earnings per share. Equities research analysts forecast that PTC Therapeutics, Inc. will post -4.52 EPS for the current 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.