PTC Therapeutics, Inc. (NASDAQ:PTCT) Holdings Boosted by Point72 Asset Management L.P.

Point72 Asset Management L.P. boosted its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 150.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,443,362 shares of the biopharmaceutical company's stock after purchasing an additional 867,502 shares during the period. Point72 Asset Management L.P. owned 1.87% of PTC Therapeutics worth $65,153,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vontobel Holding Ltd. purchased a new position in PTC Therapeutics during the 4th quarter worth approximately $521,000. Raymond James Financial Inc. purchased a new position in PTC Therapeutics during the 4th quarter worth approximately $2,200,000. Natixis Advisors LLC purchased a new position in shares of PTC Therapeutics during the 4th quarter valued at $544,000. Proficio Capital Partners LLC purchased a new position in shares of PTC Therapeutics during the 4th quarter valued at $758,000. Finally, American Century Companies Inc. grew its holdings in shares of PTC Therapeutics by 66.8% during the 4th quarter. American Century Companies Inc. now owns 60,150 shares of the biopharmaceutical company's stock valued at $2,715,000 after acquiring an additional 24,090 shares in the last quarter.

PTC Therapeutics Trading Down 3.1%

PTCT stock opened at $45.31 on Friday. PTC Therapeutics, Inc. has a 1 year low of $28.72 and a 1 year high of $58.38. The company has a fifty day simple moving average of $48.35 and a 200 day simple moving average of $47.12. The firm has a market cap of $3.59 billion, a PE ratio of -7.63 and a beta of 0.52.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last released its 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 revenue was down 9.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.20) EPS. As a group, analysts forecast that PTC Therapeutics, Inc. will post -4.52 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on PTCT shares. Bank of America upgraded shares of PTC Therapeutics from a "neutral" rating to a "buy" rating and boosted their price target for the company from $55.00 to $68.00 in a report on Friday, May 9th. Cantor Fitzgerald lowered their price target on shares of PTC Therapeutics from $113.00 to $112.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. JPMorgan Chase & Co. lowered their price target on shares of PTC Therapeutics from $75.00 to $67.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Morgan Stanley restated an "overweight" rating and set a $70.00 price target (up from $67.00) on shares of PTC Therapeutics in a report on Friday, March 7th. Finally, Royal Bank of Canada boosted their price target on shares of PTC Therapeutics from $57.00 to $58.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $61.92.

Insiders Place Their Bets

In related news, VP Mark Elliott Boulding sold 1,333 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total value 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Stephanie Okey sold 5,000 shares of the company's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $54.00, for a total transaction of $270,000.00. Following the sale, the director now directly owns 8,867 shares in the company, valued at $478,818. This represents a 36.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,305 shares of company stock valued at $1,682,755 in the last quarter. 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.

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