Invesco Ltd. Purchases 57,582 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

Invesco Ltd. raised its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 107.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 111,391 shares of the biopharmaceutical company's stock after purchasing an additional 57,582 shares during the quarter. Invesco Ltd. owned 0.14% of PTC Therapeutics worth $5,028,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Arizona State Retirement System raised its position 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 worth $907,000 after acquiring an additional 219 shares in the last quarter. Choreo LLC increased its position in PTC Therapeutics by 2.0% during the 4th quarter. Choreo LLC now owns 11,961 shares of the biopharmaceutical company's stock worth $541,000 after purchasing an additional 240 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings 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. Janney Montgomery Scott LLC increased its holdings in PTC Therapeutics by 8.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 5,965 shares of the biopharmaceutical company's stock valued at $269,000 after purchasing an additional 455 shares in the last quarter. Finally, Xponance Inc. lifted its stake in shares of PTC Therapeutics by 10.4% during the fourth quarter. Xponance Inc. now owns 6,058 shares of the biopharmaceutical company's stock worth $273,000 after purchasing an additional 570 shares in the last quarter.

Wall Street Analysts Forecast Growth

PTCT has been the subject of several recent research reports. StockNews.com downgraded shares of PTC Therapeutics from a "buy" rating to a "hold" rating in a research report on Monday, February 17th. Bank of America raised shares of PTC Therapeutics from an "underperform" rating to a "neutral" rating and raised their target price for the stock from $41.00 to $55.00 in a report on Tuesday, March 11th. Scotiabank began coverage on PTC Therapeutics in a report on Friday, March 7th. They issued a "sector perform" rating and a $55.00 price target on the stock. Royal Bank of Canada reiterated an "outperform" rating and issued a $65.00 target price on shares of PTC Therapeutics in a research note on Tuesday, April 22nd. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $70.00 price objective (up from $67.00) on shares of PTC Therapeutics in a research report on Friday, March 7th. Two analysts have rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, PTC Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $63.92.

PTC Therapeutics Price Performance

Shares of NASDAQ PTCT traded up $0.28 during mid-day trading on Thursday, reaching $50.12. 109,534 shares of the company's stock traded hands, compared to its average volume of 799,714. The stock has a market cap of $3.95 billion, a P/E ratio of -8.42 and a beta of 0.58. PTC Therapeutics, Inc. has a 1-year low of $28.72 and a 1-year high of $58.38. The business has a 50-day simple moving average of $50.02 and a 200 day simple moving average of $46.74.

Insiders Place Their Bets

In other PTC Therapeutics news, VP Mark Elliott Boulding sold 1,333 shares of the business's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total transaction of $66,783.30. Following the sale, the vice president now owns 105,515 shares of the company's stock, valued at $5,286,301.50. The trade was a 1.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Christine Marie Utter sold 879 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $50.10, for a total transaction of $44,037.90. Following the completion of the transaction, the chief accounting officer now owns 63,442 shares of the company's stock, valued at $3,178,444.20. This trade represents a 1.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,305 shares of company stock valued at $1,682,755. Insiders own 5.50% of the company's stock.

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.