PTC Therapeutics, Inc. (NASDAQ:PTCT) Stock Position Raised by Nuveen Asset Management LLC

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

A number of other institutional investors have also modified their holdings of PTCT. Smartleaf Asset Management LLC grew its position in PTC Therapeutics by 78.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company's stock worth $28,000 after purchasing an additional 270 shares during the last quarter. Sterling Capital Management LLC lifted its stake in PTC Therapeutics by 424.4% during the fourth quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company's stock valued at $29,000 after purchasing an additional 522 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in PTC Therapeutics during the fourth quarter valued at approximately $68,000. R Squared Ltd acquired a new stake in PTC Therapeutics during the fourth quarter valued at approximately $79,000. Finally, KBC Group NV lifted its stake in PTC Therapeutics by 36.4% during the fourth quarter. KBC Group NV now owns 3,045 shares of the biopharmaceutical company's stock valued at $137,000 after purchasing an additional 813 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Barclays reduced their price target on shares of PTC Therapeutics from $56.00 to $42.00 and set an "equal weight" rating for the company in a research report on Thursday, May 8th. Scotiabank initiated coverage on shares of PTC Therapeutics in a research report on Friday, March 7th. They issued a "sector perform" rating and a $55.00 target price for the company. Royal Bank of Canada increased their price target on shares of PTC Therapeutics from $57.00 to $58.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Morgan Stanley restated an "overweight" rating and set a $70.00 price target (up previously from $67.00) on shares of PTC Therapeutics in a research note on Friday, March 7th. Finally, JPMorgan Chase & Co. lowered their target price on shares of PTC Therapeutics from $75.00 to $67.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $61.92.

PTC Therapeutics Stock Performance

NASDAQ:PTCT opened at $46.96 on Tuesday. The company has a 50-day moving average of $48.09 and a 200-day moving average of $47.29. The company has a market capitalization of $3.72 billion, a price-to-earnings ratio of -7.91 and a beta of 0.52. PTC Therapeutics, Inc. has a 52 week low of $28.72 and a 52 week high of $58.38.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last released 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 business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $437.16 million. During the same period in the previous year, the business posted ($1.20) earnings per share. PTC Therapeutics's revenue was down 9.6% on a year-over-year basis. Sell-side analysts forecast that PTC Therapeutics, Inc. will post -4.52 EPS for the current year.

Insider Buying and Selling at PTC Therapeutics

In other news, CAO Christine Marie Utter sold 879 shares of PTC Therapeutics stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total transaction of $44,037.90. Following the completion of the sale, the chief accounting officer now owns 63,442 shares in the company, valued at $3,178,444.20. The trade was a 1.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Mark Elliott Boulding sold 15,521 shares of PTC Therapeutics stock in a transaction that occurred 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 sale, the vice president now owns 103,901 shares of the company's stock, valued at approximately $5,537,923.30. This represents a 13.00% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,117 shares of company stock worth $1,812,472. 5.50% of the stock is currently owned by corporate insiders.

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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