Parkman Healthcare Partners LLC Has $8.01 Million Stock Holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Parkman Healthcare Partners LLC reduced its stake in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 9.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 177,368 shares of the biopharmaceutical company's stock after selling 17,632 shares during the quarter. Parkman Healthcare Partners LLC owned about 0.23% of PTC Therapeutics worth $8,006,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Nuveen Asset Management LLC boosted its stake in shares of PTC Therapeutics by 34.0% in the 4th quarter. Nuveen Asset Management LLC now owns 1,077,794 shares of the biopharmaceutical company's stock valued at $48,652,000 after purchasing an additional 273,638 shares during the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in PTC Therapeutics by 49.2% during the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 46,894 shares of the biopharmaceutical company's stock worth $2,117,000 after purchasing an additional 15,459 shares during the period. Millennium Management LLC grew its stake in PTC Therapeutics by 41.0% during the fourth quarter. Millennium Management LLC now owns 309,423 shares of the biopharmaceutical company's stock worth $13,967,000 after purchasing an additional 89,959 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in PTC Therapeutics by 0.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,681 shares of the biopharmaceutical company's stock valued at $2,967,000 after buying an additional 205 shares during the period. Finally, Lazard Asset Management LLC lifted its stake in PTC Therapeutics by 294.3% in the fourth quarter. Lazard Asset Management LLC now owns 45,647 shares of the biopharmaceutical company's stock valued at $2,059,000 after buying an additional 34,069 shares during the period.

PTC Therapeutics Stock Performance

Shares of PTCT stock opened at $46.39 on Wednesday. PTC Therapeutics, Inc. has a 52 week low of $28.72 and a 52 week high of $58.38. The firm's 50-day simple moving average is $48.74 and its two-hundred day simple moving average is $47.10. The firm has a market cap of $3.68 billion, a price-to-earnings ratio of -7.81 and a beta of 0.52.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported $10.04 EPS for the quarter, beating the consensus estimate of $0.85 by $9.19. The firm had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $437.16 million. PTC Therapeutics's revenue for the quarter was down 9.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.20) EPS. Analysts forecast that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO Christine Marie Utter sold 879 shares of the firm's stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 63,442 shares in the company, valued at $3,178,444.20. This trade represents a 1.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $136,666.96. Following the completion of 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 disclosure for this sale can be found here. Insiders have sold 32,305 shares of company stock worth $1,682,755 in the last three months. 5.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Citigroup upgraded shares of PTC Therapeutics from a "sell" rating to a "neutral" rating and lowered their price objective for the company from $50.00 to $40.00 in a research note on Wednesday, May 7th. Royal Bank of Canada increased their price objective on shares of PTC Therapeutics from $57.00 to $58.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. StockNews.com raised PTC Therapeutics from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 8th. Morgan Stanley restated an "overweight" rating and set a $70.00 price objective (up previously from $67.00) on shares of PTC Therapeutics in a report on Friday, March 7th. Finally, Cantor Fitzgerald reduced their price target on shares of PTC Therapeutics from $113.00 to $112.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $61.92.

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.

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