PTC Therapeutics, Inc. (NASDAQ:PTCT) Holdings Raised by Northern Trust Corp

Northern Trust Corp lifted its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 7.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 727,976 shares of the biopharmaceutical company's stock after buying an additional 52,714 shares during the quarter. Northern Trust Corp owned approximately 0.94% of PTC Therapeutics worth $32,861,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Smartleaf Asset Management LLC raised its position in PTC Therapeutics by 78.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company's stock valued at $28,000 after purchasing an additional 270 shares in the last quarter. Sterling Capital Management LLC grew its stake in PTC Therapeutics by 424.4% during the 4th 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 during the last quarter. Venturi Wealth Management LLC purchased a new stake in shares of PTC Therapeutics in the fourth quarter worth about $68,000. R Squared Ltd purchased a new stake in shares of PTC Therapeutics in the fourth quarter worth about $79,000. Finally, KBC Group NV boosted its stake in shares of PTC Therapeutics by 36.4% in the fourth quarter. KBC Group NV now owns 3,045 shares of the biopharmaceutical company's stock worth $137,000 after buying an additional 813 shares during the last quarter.

Analysts Set New Price Targets

PTCT has been the subject of a number of analyst reports. StockNews.com cut PTC Therapeutics from a "strong-buy" rating to a "buy" rating in a report on Friday. Royal Bank of Canada upped their price target on PTC Therapeutics from $57.00 to $58.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Robert W. Baird reduced their price target on PTC Therapeutics from $70.00 to $66.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Scotiabank assumed coverage on PTC Therapeutics in a report on Friday, March 7th. They issued a "sector perform" rating and a $55.00 price target for the company. Finally, Bank of America raised PTC Therapeutics from a "neutral" rating to a "buy" rating and increased their target price for the company from $55.00 to $68.00 in a report on Friday, May 9th. 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 stock. According to data from MarketBeat.com, PTC Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $61.92.

PTC Therapeutics Stock Down 0.6%

PTCT traded down $0.29 on Friday, hitting $45.02. 332,030 shares of the company traded hands, compared to its average volume of 1,028,436. The company has a 50 day moving average of $48.35 and a 200-day moving average of $47.12. The stock has a market capitalization of $3.57 billion, a PE ratio of -7.59 and a beta of 0.52. PTC Therapeutics, Inc. has a 12-month low of $28.72 and a 12-month high of $58.38.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its 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 business had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $437.16 million. The business's quarterly revenue was down 9.6% on a year-over-year basis. During the same period last year, the company posted ($1.20) earnings per share. On average, research analysts anticipate that PTC Therapeutics, Inc. will post -4.52 EPS for the current year.

Insider Buying and Selling

In other PTC Therapeutics news, VP Mark Elliott Boulding sold 15,521 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $53.30, for a total transaction of $827,269.30. Following the sale, the vice president now owns 103,901 shares in the company, valued at approximately $5,537,923.30. This represents a 13.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephanie Okey sold 5,000 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $54.00, for a total value of $270,000.00. Following the sale, the director now owns 8,867 shares in the company, valued at approximately $478,818. This trade represents a 36.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,305 shares of company stock worth $1,682,755 in the last quarter. Company insiders own 5.50% of the company's stock.

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.