Toronto Dominion Bank Makes New $148.36 Million Investment in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Toronto Dominion Bank acquired a new position in 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. The firm acquired 3,286,729 shares of the biopharmaceutical company's stock, valued at approximately $148,363,000. Toronto Dominion Bank owned about 4.26% of PTC Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in PTCT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in PTC Therapeutics by 0.3% during 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 period. Arizona State Retirement System lifted its stake in shares of PTC Therapeutics by 1.1% during the 4th quarter. Arizona State Retirement System now owns 20,095 shares of the biopharmaceutical company's stock valued at $907,000 after buying an additional 219 shares in the last quarter. Choreo LLC boosted its holdings in PTC Therapeutics by 2.0% in the 4th quarter. Choreo LLC now owns 11,961 shares of the biopharmaceutical company's stock worth $541,000 after buying an additional 240 shares during the period. Summit Investment Advisors Inc. boosted its holdings in PTC Therapeutics by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,968 shares of the biopharmaceutical company's stock worth $360,000 after buying an additional 253 shares during the period. Finally, Smartleaf Asset Management LLC grew its stake in PTC Therapeutics by 78.7% in the 4th 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 in the last quarter.

Analyst Upgrades and Downgrades

PTCT has been the topic of several recent research reports. JPMorgan Chase & Co. dropped their target price on PTC Therapeutics from $75.00 to $67.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Morgan Stanley reaffirmed an "overweight" rating and issued a $70.00 price target (up from $67.00) on shares of PTC Therapeutics in a report on Friday, March 7th. Wall Street Zen lowered PTC Therapeutics from a "strong-buy" rating to a "buy" rating in a report on Friday, May 16th. Robert W. Baird cut their price target 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, Scotiabank started coverage on PTC Therapeutics in a report on Friday, March 7th. They issued a "sector perform" rating and a $55.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $63.75.

PTC Therapeutics Stock Down 1.5%

Shares of PTCT stock traded down $0.73 during trading on Friday, hitting $48.17. The company had a trading volume of 291,777 shares, compared to its average volume of 858,590. The stock's 50-day moving average is $46.63 and its two-hundred day moving average is $47.45. The stock has a market capitalization of $3.82 billion, a price-to-earnings ratio of -8.11 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 issued its quarterly earnings results 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 company had revenue of $1.18 billion during the quarter, compared to the consensus estimate 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 previous year, the company earned ($1.20) EPS. On average, research analysts predict that PTC Therapeutics, Inc. will post -4.52 EPS for the current fiscal year.

Insider Activity at PTC Therapeutics

In other PTC Therapeutics news, VP Mark Elliott Boulding sold 15,521 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $53.30, for a total value of $827,269.30. Following the completion of the sale, the vice president now owns 103,901 shares of the company's stock, valued at $5,537,923.30. This represents a 13.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephanie Okey sold 5,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $54.00, for a total transaction of $270,000.00. Following the transaction, the director now owns 8,867 shares in the company, valued at $478,818. The trade was a 36.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,264 shares of company stock valued at $1,469,137 over the last 90 days. 5.50% of the stock is owned by insiders.

About PTC Therapeutics

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.