Janus Henderson Group PLC Raises Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Janus Henderson Group PLC grew its stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 24.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,325,915 shares of the biopharmaceutical company's stock after purchasing an additional 455,698 shares during the quarter. Janus Henderson Group PLC owned about 3.02% of PTC Therapeutics worth $105,015,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PTCT. Smartleaf Asset Management LLC boosted 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 worth $28,000 after acquiring an additional 270 shares during the period. Sterling Capital Management LLC raised its position in PTC Therapeutics by 424.4% during the fourth quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company's stock valued at $29,000 after purchasing an additional 522 shares in the last quarter. Venturi Wealth Management LLC bought a new position in PTC Therapeutics in the fourth quarter valued at about $68,000. R Squared Ltd acquired a new position in PTC Therapeutics during the 4th quarter worth approximately $79,000. Finally, KBC Group NV grew its position in PTC Therapeutics by 36.4% during the 4th quarter. KBC Group NV now owns 3,045 shares of the biopharmaceutical company's stock worth $137,000 after acquiring an additional 813 shares during the last quarter.

Insider Buying and Selling

In other news, CEO Matthew B. Klein sold 2,804 shares of PTC Therapeutics stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 273,234 shares in the company, valued at approximately $13,317,425.16. This trade represents a 1.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Allan Steven Jacobson sold 1,230 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $51.52, for a total value of $63,369.60. Following the transaction, the director now directly owns 19,118 shares in the company, valued at $984,959.36. This trade represents a 6.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,305 shares of company stock valued at $1,682,755 over the last ninety days. 5.50% of the stock is owned by insiders.

PTC Therapeutics Stock Up 1.5%

Shares of NASDAQ PTCT traded up $0.70 during midday trading on Friday, reaching $46.01. The company had a trading volume of 1,556,085 shares, compared to its average volume of 868,624. PTC Therapeutics, Inc. has a one year low of $28.72 and a one year high of $58.38. The firm's fifty day moving average price is $48.22 and its 200-day moving average price is $47.15. The stock has a market cap of $3.65 billion, a PE ratio of -7.75 and a beta of 0.52.

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

Analysts Set New Price Targets

PTCT has been the topic of several analyst reports. Royal Bank of Canada boosted their price objective on shares of PTC Therapeutics from $57.00 to $58.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Barclays dropped their price target on PTC Therapeutics from $56.00 to $42.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 8th. Robert W. Baird decreased their target price on shares of PTC Therapeutics from $70.00 to $66.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Bank of America raised PTC Therapeutics from a "neutral" rating to a "buy" rating and lifted their target price for the company from $55.00 to $68.00 in a research report on Friday, May 9th. Finally, JPMorgan Chase & Co. lowered their price target on PTC Therapeutics from $75.00 to $67.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $61.92.

About PTC Therapeutics

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.