OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $2.12 Million Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 49.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,894 shares of the biopharmaceutical company's stock after acquiring an additional 15,459 shares during the quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.06% of PTC Therapeutics worth $2,117,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in PTC Therapeutics by 0.3% in the 4th 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. Arizona State Retirement System increased its position in shares of PTC Therapeutics by 1.1% during the fourth quarter. Arizona State Retirement System now owns 20,095 shares of the biopharmaceutical company's stock valued at $907,000 after acquiring an additional 219 shares during the last quarter. Choreo LLC raised its stake in shares of PTC Therapeutics by 2.0% in the 4th quarter. Choreo LLC now owns 11,961 shares of the biopharmaceutical company's stock valued at $541,000 after acquiring an additional 240 shares during the period. Summit Investment Advisors Inc. lifted its holdings in shares of PTC Therapeutics by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,968 shares of the biopharmaceutical company's stock worth $360,000 after acquiring an additional 253 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of PTC Therapeutics by 78.7% in the 4th 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 last quarter.

Insider Activity

In related news, CEO Matthew B. Klein sold 2,804 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer now owns 273,234 shares of the company's stock, valued at approximately $13,317,425.16. The trade was a 1.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Christine Marie Utter sold 879 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total value of $44,037.90. Following the sale, the chief accounting officer now owns 63,442 shares of the company's stock, valued at approximately $3,178,444.20. The trade was a 1.37% decrease in their position. The disclosure for this sale can be found here. In 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.

Analysts Set New Price Targets

PTCT has been the subject of several research analyst reports. Scotiabank initiated coverage on PTC Therapeutics in a research report on Friday, March 7th. They set a "sector perform" rating and a $55.00 price target for the company. Citigroup upgraded PTC Therapeutics from a "sell" rating to a "neutral" rating and lowered their target price for the company from $50.00 to $40.00 in a report on Wednesday, May 7th. Royal Bank of Canada lifted their target price on PTC Therapeutics from $57.00 to $58.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Barclays reduced their price target on shares of PTC Therapeutics from $56.00 to $42.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 8th. Finally, StockNews.com lowered shares of PTC Therapeutics from a "strong-buy" rating to a "buy" rating in a research note on Friday. One analyst has rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $61.92.

PTC Therapeutics Price Performance

NASDAQ:PTCT traded up $0.70 during mid-day trading on Friday, reaching $46.01. The stock had a trading volume of 1,556,085 shares, compared to its average volume of 869,912. The stock has a market cap of $3.65 billion, a P/E ratio of -7.75 and a beta of 0.52. The business's 50 day moving average is $48.22 and its 200 day moving average is $47.15. PTC Therapeutics, Inc. has a fifty-two week low of $28.72 and a fifty-two week high of $58.38.

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

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.