Wealth Enhancement Advisory Services LLC Acquires New Shares in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Wealth Enhancement Advisory Services LLC purchased a new stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 11,670 shares of the biopharmaceutical company's stock, valued at approximately $595,000.

A number of other hedge funds have also recently made changes to their positions in the company. Proficio Capital Partners LLC acquired a new position in shares of PTC Therapeutics in the fourth quarter worth approximately $758,000. Smartleaf Asset Management LLC lifted its stake in 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 period. Aigen Investment Management LP acquired a new position in PTC Therapeutics in the fourth quarter valued at approximately $402,000. Arizona State Retirement System raised its position in shares of PTC Therapeutics by 1.1% during the fourth quarter. Arizona State Retirement System now owns 20,095 shares of the biopharmaceutical company's stock worth $907,000 after purchasing an additional 219 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of PTC Therapeutics during the fourth quarter worth approximately $2,200,000.

PTC Therapeutics Stock Performance

Shares of PTCT stock opened at $48.77 on Friday. The firm has a market cap of $3.87 billion, a P/E ratio of 7.49 and a beta of 0.50. PTC Therapeutics, Inc. has a fifty-two week low of $29.02 and a fifty-two week high of $58.38. The business's 50 day moving average price is $48.21 and its 200-day moving average price is $48.28.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last released its earnings results on Tuesday, May 6th. The biopharmaceutical company reported $10.04 EPS for the quarter, beating analysts' consensus estimates of $0.85 by $9.19. The company had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $437.16 million. PTC Therapeutics had a negative return on equity of 78.56% and a net margin of 33.56%. The firm's revenue for the quarter was down 9.6% compared to the same quarter last year. During the same quarter last year, the business posted ($1.20) EPS. As a group, equities analysts predict that PTC Therapeutics, Inc. will post -4.52 EPS for the current year.

Insiders Place Their Bets

In other PTC Therapeutics news, CEO Matthew B. Klein sold 2,804 shares of PTC Therapeutics stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $48.74, for a total transaction of $136,666.96. Following the completion of the transaction, the chief executive officer owned 273,234 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Also, VP Mark Elliott Boulding sold 1,929 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $46.18, for a total value of $89,081.22. Following the completion of the transaction, the vice president owned 103,901 shares of the company's stock, valued at $4,798,148.18. This represents a 1.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,616 shares of company stock valued at $266,384 in the last quarter. 5.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PTCT shares. Citigroup upgraded PTC Therapeutics from a "sell" rating to a "neutral" rating and decreased their price target for the stock from $50.00 to $40.00 in a report on Wednesday, May 7th. JPMorgan Chase & Co. dropped their price objective on PTC Therapeutics from $75.00 to $67.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Cantor Fitzgerald dropped their price objective on PTC Therapeutics from $113.00 to $112.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Bank of America raised PTC Therapeutics from a "neutral" rating to a "buy" rating and raised their price target for the company from $55.00 to $68.00 in a report on Friday, May 9th. Finally, Morgan Stanley reissued an "overweight" rating and set a $70.00 price objective (up from $67.00) on shares of PTC Therapeutics in a report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $65.00.

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.

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