PTC Therapeutics, Inc. (NASDAQ:PTCT) Position Cut by Two Sigma Advisers LP

Two Sigma Advisers LP lowered its position in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 16.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 360,442 shares of the biopharmaceutical company's stock after selling 69,400 shares during the quarter. Two Sigma Advisers LP owned approximately 0.47% of PTC Therapeutics worth $16,270,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of PTCT. Toronto Dominion Bank purchased a new position in shares of PTC Therapeutics during the 4th quarter valued at about $148,363,000. Driehaus Capital Management LLC acquired a new position in shares of PTC Therapeutics during the fourth quarter valued at approximately $46,993,000. Point72 Asset Management L.P. raised its holdings in shares of PTC Therapeutics by 150.6% during the fourth quarter. Point72 Asset Management L.P. now owns 1,443,362 shares of the biopharmaceutical company's stock valued at $65,153,000 after acquiring an additional 867,502 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of PTC Therapeutics by 24.4% during the fourth quarter. Janus Henderson Group PLC now owns 2,325,915 shares of the biopharmaceutical company's stock valued at $105,015,000 after acquiring an additional 455,698 shares during the last quarter. Finally, Pictet Asset Management Holding SA boosted its holdings in shares of PTC Therapeutics by 107.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 736,388 shares of the biopharmaceutical company's stock worth $33,241,000 after purchasing an additional 381,319 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PTCT shares. JPMorgan Chase & Co. lowered their target price on PTC Therapeutics from $75.00 to $67.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Wells Fargo & Company lifted their price target on shares of PTC Therapeutics from $68.00 to $74.00 and gave the company an "overweight" rating in a research report on Tuesday. Bank of America raised shares of PTC Therapeutics from a "neutral" rating to a "buy" rating and lifted their price target for the company from $55.00 to $68.00 in a research report on Friday, May 9th. Cantor Fitzgerald reduced their price target on shares of PTC Therapeutics from $113.00 to $112.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $70.00 price target (up previously from $67.00) on shares of PTC Therapeutics in a research report on Friday, March 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, PTC Therapeutics presently has an average rating of "Moderate Buy" and a consensus price target of $63.75.

Insiders Place Their Bets

In related news, CEO Matthew B. Klein sold 2,804 shares of the business's stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $48.74, for a total value of $136,666.96. Following the completion of the sale, the chief executive officer now directly owns 273,234 shares of the company's stock, valued at $13,317,425.16. The trade was a 1.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Mark Elliott Boulding sold 883 shares of the company's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $46.02, for a total value of $40,635.66. Following the transaction, the vice president now directly owns 103,901 shares of the company's stock, valued at $4,781,524.02. This trade represents a 0.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,264 shares of company stock valued at $1,469,137. Corporate insiders own 5.50% of the company's stock.

PTC Therapeutics Trading Up 4.3%

Shares of PTCT stock traded up $1.99 on Tuesday, reaching $47.92. 191,056 shares of the stock were exchanged, compared to its average volume of 855,910. The business's 50 day moving average price is $47.17 and its 200 day moving average price is $47.42. The company has a market capitalization of $3.80 billion, a price-to-earnings ratio of -8.08 and a beta of 0.52. PTC Therapeutics, Inc. has a twelve month low of $28.72 and a twelve month high of $58.38.

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, topping the consensus estimate of $0.85 by $9.19. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $437.16 million. PTC Therapeutics's quarterly revenue was down 9.6% on a year-over-year basis. During the same quarter last year, the company posted ($1.20) EPS. Equities research analysts forecast 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.