State of Wyoming Buys New Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

State of Wyoming bought a new stake in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 5,776 shares of the biopharmaceutical company's stock, valued at approximately $261,000.

A number of other large investors have also recently bought and sold shares of the company. Vontobel Holding Ltd. acquired a new position in PTC Therapeutics in the 4th quarter valued at $521,000. Raymond James Financial Inc. purchased a new position in shares of PTC Therapeutics during the 4th quarter worth $2,200,000. Natixis Advisors LLC purchased a new position in shares of PTC Therapeutics during the 4th quarter worth $544,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of PTC Therapeutics by 49.2% during the 4th 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 period. Finally, Proficio Capital Partners LLC purchased a new position in PTC Therapeutics during the 4th quarter valued at about $758,000.

Insider Transactions at PTC Therapeutics

In other PTC Therapeutics news, VP Mark Elliott Boulding sold 1,929 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $46.18, for a total value of $89,081.22. Following the sale, the vice president now directly owns 103,901 shares in the company, valued at $4,798,148.18. This represents a 1.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Allan Steven Jacobson sold 1,230 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $51.52, for a total transaction of $63,369.60. Following the transaction, the director now directly owns 19,118 shares in the company, valued at approximately $984,959.36. This represents a 6.04% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,264 shares of company stock worth $1,469,137. Company insiders own 5.50% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Wells Fargo & Company increased their price target on PTC Therapeutics from $68.00 to $74.00 and gave the company an "overweight" rating in a research report on Tuesday. Citigroup raised PTC Therapeutics from a "sell" rating to a "neutral" rating and cut their target price for the stock from $50.00 to $40.00 in a research report on Wednesday, May 7th. Barclays cut their price target on PTC Therapeutics from $56.00 to $42.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 8th. Robert W. Baird cut their price target on PTC Therapeutics from $70.00 to $66.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Finally, Scotiabank assumed coverage on PTC Therapeutics in a research note on Friday, March 7th. They issued a "sector perform" rating and a $55.00 target price on the stock. One equities 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $63.75.

PTC Therapeutics Stock Up 2.2%

Shares of PTCT traded up $1.06 during trading hours on Thursday, reaching $48.34. The stock had a trading volume of 81,325 shares, compared to its average volume of 857,865. PTC Therapeutics, Inc. has a 52 week low of $28.72 and a 52 week high of $58.38. The firm has a 50-day moving average of $46.80 and a 200 day moving average of $47.43. The company has a market cap of $3.83 billion, a P/E ratio of -8.17 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 (EPS) for the quarter, beating the consensus estimate of $0.85 by $9.19. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $437.16 million. During the same quarter last year, the business posted ($1.20) earnings per share. The company's revenue for the quarter was down 9.6% on a year-over-year basis. As a group, equities analysts expect that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current year.

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.