Woodline Partners LP Acquires Shares of 155,883 PTC Therapeutics, Inc. (NASDAQ:PTCT)

Woodline Partners LP purchased a new position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 155,883 shares of the biopharmaceutical company's stock, valued at approximately $7,037,000. Woodline Partners LP owned about 0.20% of PTC Therapeutics as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. State of Wyoming bought a new stake in shares of PTC Therapeutics during the fourth quarter worth $261,000. Toronto Dominion Bank acquired a new position in PTC Therapeutics in the fourth quarter valued at about $148,363,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of PTC Therapeutics during the fourth quarter worth about $77,000. Point72 Asset Management L.P. raised its position 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 worth $65,153,000 after purchasing an additional 867,502 shares during the period. Finally, Point72 Hong Kong Ltd raised its position in shares of PTC Therapeutics by 184.5% during the fourth quarter. Point72 Hong Kong Ltd now owns 32,436 shares of the biopharmaceutical company's stock worth $1,464,000 after purchasing an additional 21,034 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. dropped their price target 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. Wall Street Zen lowered PTC Therapeutics from a "strong-buy" rating to a "buy" rating in a research report on Friday, May 16th. Barclays dropped 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. Cantor Fitzgerald dropped their target price on 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, Wells Fargo & Company raised their price target on PTC Therapeutics from $68.00 to $74.00 and gave the company an "overweight" rating in a research note on Tuesday. 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat, PTC Therapeutics has a consensus rating of "Moderate Buy" and an average target price of $63.75.

Insider Transactions at PTC Therapeutics

In other news, Director Allan Steven Jacobson sold 1,230 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $51.52, for a total value of $63,369.60. Following the completion of the sale, the director now directly owns 19,118 shares of the company's stock, valued at $984,959.36. This represents a 6.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Mark Elliott Boulding sold 883 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $46.02, for a total value of $40,635.66. Following the completion of the sale, the vice president now directly owns 103,901 shares of the company's stock, valued at approximately $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. Insiders sold a total of 28,264 shares of company stock valued at $1,469,137 over the last ninety days. 5.50% of the stock is currently owned by insiders.

PTC Therapeutics Trading Up 2.4%

PTCT stock traded up $1.13 during trading on Thursday, reaching $48.41. 112,830 shares of the stock were exchanged, compared to its average volume of 857,935. The firm's 50 day moving average is $46.80 and its 200 day moving average is $47.43. PTC Therapeutics, Inc. has a twelve month low of $28.72 and a twelve month high of $58.38. The firm has a market cap of $3.84 billion, a P/E ratio of -8.14 and a beta of 0.52.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported $10.04 earnings per share for the quarter, topping analysts' consensus estimates of $0.85 by $9.19. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $437.16 million. The firm's quarterly revenue was down 9.6% compared to the same quarter last year. During the same period last year, the company posted ($1.20) earnings per share. As a group, analysts predict that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

PTC Therapeutics 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.