Rafferty Asset Management LLC Decreases Stake in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Rafferty Asset Management LLC trimmed its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 22.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,032 shares of the biopharmaceutical company's stock after selling 23,231 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.10% of PTC Therapeutics worth $3,522,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in PTC Therapeutics by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 9,178,822 shares of the biopharmaceutical company's stock worth $414,332,000 after acquiring an additional 53,688 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of PTC Therapeutics by 24.4% in the 4th quarter. Janus Henderson Group PLC now owns 2,325,915 shares of the biopharmaceutical company's stock valued at $105,015,000 after purchasing an additional 455,698 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of PTC Therapeutics by 150.6% in the 4th quarter. Point72 Asset Management L.P. now owns 1,443,362 shares of the biopharmaceutical company's stock worth $65,153,000 after purchasing an additional 867,502 shares during the period. Nuveen Asset Management LLC boosted its holdings in shares of PTC Therapeutics by 34.0% in the 4th quarter. Nuveen Asset Management LLC now owns 1,077,794 shares of the biopharmaceutical company's stock worth $48,652,000 after purchasing an additional 273,638 shares during the period. Finally, Driehaus Capital Management LLC bought a new position in shares of PTC Therapeutics during the 4th quarter valued at approximately $46,993,000.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Royal Bank of Canada upped their price target on shares of PTC Therapeutics from $57.00 to $58.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Barclays cut their target price on PTC Therapeutics from $56.00 to $42.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 8th. Bank of America upgraded PTC Therapeutics from a "neutral" rating to a "buy" rating and increased their price target for the stock from $55.00 to $68.00 in a report on Friday, May 9th. Robert W. Baird dropped their price objective on PTC Therapeutics from $70.00 to $66.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. reduced their target price 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, PTC Therapeutics currently has an average rating of "Moderate Buy" and a consensus price target of $63.25.

Insiders Place Their Bets

In other PTC Therapeutics news, EVP Lee Scott Golden sold 897 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $46.95, for a total value 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 represents a 1.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Mark Elliott Boulding sold 15,521 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $53.30, for a total value of $827,269.30. Following the sale, the vice president now owns 103,901 shares in the company, 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. In the last ninety days, insiders sold 28,264 shares of company stock valued at $1,469,137. 5.50% of the stock is owned by company insiders.

PTC Therapeutics Stock Down 1.5%

PTC Therapeutics stock traded down $0.69 during trading on Thursday, reaching $45.52. The stock had a trading volume of 590,738 shares, compared to its average volume of 858,230. 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 $3.61 billion, a PE ratio of -7.66 and a beta of 0.52. The business has a 50 day moving average price of $47.58 and a 200 day moving average price of $47.32.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported $10.04 EPS for the quarter, topping the consensus estimate of $0.85 by $9.19. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $437.16 million. PTC Therapeutics's revenue was down 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.20) earnings per share. On average, equities analysts predict 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.