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

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

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of PTC Therapeutics by 0.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,681 shares of the biopharmaceutical company's stock valued at $2,967,000 after acquiring an additional 205 shares during the last quarter. Arizona State Retirement System increased its stake 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 valued at $907,000 after buying an additional 219 shares during the period. Summit Investment Advisors Inc. raised its holdings in shares of PTC Therapeutics by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 7,968 shares of the biopharmaceutical company's stock valued at $360,000 after acquiring an additional 253 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of PTC Therapeutics by 78.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company's stock valued at $28,000 after acquiring an additional 270 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of PTC Therapeutics by 86.3% during the first quarter. GAMMA Investing LLC now owns 952 shares of the biopharmaceutical company's stock valued at $49,000 after acquiring an additional 441 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PTCT. Citigroup upgraded PTC Therapeutics from a "sell" rating to a "neutral" rating and decreased their target price for the company from $50.00 to $40.00 in a report on Wednesday, May 7th. Robert W. Baird decreased their target price on PTC Therapeutics from $70.00 to $66.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Wall Street Zen lowered PTC Therapeutics from a "strong-buy" rating to a "buy" rating in a research report on Friday, May 16th. Cantor Fitzgerald decreased their target price on PTC Therapeutics from $113.00 to $112.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Finally, Royal Bank Of Canada increased their target price on PTC Therapeutics from $57.00 to $58.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $65.00.

Insiders Place Their Bets

In other news, VP Mark Elliott Boulding sold 1,929 shares of the firm'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 transaction, the vice president directly owned 103,901 shares in the company, valued at $4,798,148.18. This trade represents a 1.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Matthew B. Klein sold 2,804 shares of the firm's stock in a transaction on 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 transaction, the chief executive officer owned 273,234 shares in the company, valued at approximately $13,317,425.16. This trade represents a 1.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,616 shares of company stock worth $266,384. Company insiders own 5.50% of the company's stock.

PTC Therapeutics Trading Down 0.7%

PTCT traded down $0.33 during trading on Tuesday, hitting $47.65. 1,208,967 shares of the company's stock traded hands, compared to its average volume of 866,846. The company's 50 day simple moving average is $48.14 and its two-hundred day simple moving average is $48.33. PTC Therapeutics, Inc. has a 12-month low of $29.02 and a 12-month high of $58.38. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of 7.32 and a beta of 0.50.

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