Toronto Dominion Bank Acquires Shares of 3,286,729 PTC Therapeutics, Inc. (NASDAQ:PTCT)

Toronto Dominion Bank purchased a new position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,286,729 shares of the biopharmaceutical company's stock, valued at approximately $148,363,000. Toronto Dominion Bank owned approximately 4.26% of PTC Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the stock. Smartleaf Asset Management LLC raised its position in shares of PTC Therapeutics by 78.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company's stock valued at $28,000 after buying an additional 270 shares during the last quarter. Sterling Capital Management LLC grew its stake in PTC Therapeutics by 424.4% in the 4th quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company's stock worth $29,000 after acquiring an additional 522 shares during the period. Venturi Wealth Management LLC acquired a new position in PTC Therapeutics in the 4th quarter valued at $68,000. GF Fund Management CO. LTD. acquired a new stake in PTC Therapeutics in the 4th quarter worth about $73,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in PTC Therapeutics in the 4th quarter valued at about $77,000.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PTCT. Cantor Fitzgerald lowered their target price on shares of PTC Therapeutics from $113.00 to $112.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. Royal Bank of Canada boosted their price objective on shares of PTC Therapeutics from $57.00 to $58.00 and gave the company an "outperform" rating in a research note 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 report on Thursday, May 8th. Robert W. Baird dropped their price target on PTC Therapeutics from $70.00 to $66.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Finally, Citigroup upgraded PTC Therapeutics from a "sell" rating to a "neutral" rating and decreased their target price for the stock from $50.00 to $40.00 in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $63.75.

Insider Transactions at PTC Therapeutics

In other PTC Therapeutics news, 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 $984,959.36. This represents a 6.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Stephanie Okey sold 5,000 shares of the company's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $54.00, for a total value of $270,000.00. Following the transaction, the director now owns 8,867 shares of the company's stock, valued at approximately $478,818. The trade was a 36.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,264 shares of company stock valued at $1,469,137. 5.50% of the stock is currently owned by insiders.

PTC Therapeutics Trading Up 3.4%

NASDAQ:PTCT traded up $1.61 during trading hours on Thursday, hitting $48.89. The stock had a trading volume of 777,100 shares, compared to its average volume of 860,531. PTC Therapeutics, Inc. has a 1-year low of $28.72 and a 1-year high of $58.38. The business has a 50 day simple moving average of $46.80 and a two-hundred day simple moving average of $47.43. The company has a market cap of $3.87 billion, a PE ratio of -8.23 and a beta of 0.52.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last announced its earnings results on Tuesday, May 6th. The biopharmaceutical company reported $10.04 earnings per share 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 analysts' expectations of $437.16 million. PTC Therapeutics's revenue for the quarter was down 9.6% compared to the same quarter last year. During the same quarter last year, the company posted ($1.20) earnings per share. Research analysts expect that PTC Therapeutics, Inc. will post -4.52 EPS for the current fiscal 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.