48,728 Shares in PTC Therapeutics, Inc. (NASDAQ:PTCT) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 48,728 shares of the biopharmaceutical company's stock, valued at approximately $2,200,000. Raymond James Financial Inc. owned 0.06% of PTC Therapeutics at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PTCT. Smartleaf Asset Management LLC increased its position 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 valued at $28,000 after purchasing an additional 270 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in shares of PTC Therapeutics during the fourth quarter worth approximately $68,000. R Squared Ltd acquired a new position in PTC Therapeutics in the fourth quarter valued at $79,000. KBC Group NV lifted 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 period. Finally, Savant Capital LLC acquired a new position in PTC Therapeutics in the 4th quarter valued at $210,000.

Insider Activity at PTC Therapeutics

In other PTC Therapeutics news, CEO Matthew B. Klein sold 2,804 shares of PTC Therapeutics stock in a transaction 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 completion of the transaction, the chief executive officer now owns 273,234 shares in the company, valued at approximately $13,317,425.16. The trade was a 1.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Mark Elliott Boulding sold 1,333 shares of the company's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $50.10, for a total transaction of $66,783.30. Following the transaction, the vice president now owns 105,515 shares in the company, valued at approximately $5,286,301.50. This trade represents a 1.25 % 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 valued at $1,682,755 over the last quarter. 5.50% of the stock is owned by company insiders.

PTC Therapeutics Price Performance

Shares of PTC Therapeutics stock traded up $0.43 during midday trading on Friday, hitting $49.95. The company had a trading volume of 984,809 shares, compared to its average volume of 803,784. PTC Therapeutics, Inc. has a 1-year low of $28.72 and a 1-year high of $58.38. The business's 50 day simple moving average is $50.00 and its two-hundred day simple moving average is $46.90. The stock has a market cap of $3.94 billion, a PE ratio of -8.41 and a beta of 0.52.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. StockNews.com cut shares of PTC Therapeutics from a "buy" rating to a "hold" rating in a research note on Monday, February 17th. Scotiabank assumed coverage on PTC Therapeutics in a report on Friday, March 7th. They set a "sector perform" rating and a $55.00 price objective for the company. Cantor Fitzgerald upped their target price on PTC Therapeutics from $76.00 to $113.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Morgan Stanley restated an "overweight" rating and issued a $70.00 price target (up previously from $67.00) on shares of PTC Therapeutics in a research report on Friday, March 7th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of PTC Therapeutics from $78.00 to $75.00 and set an "overweight" rating on the stock in a research report on Monday, March 31st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, PTC Therapeutics currently has an average rating of "Moderate Buy" and an average price target of $63.92.

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.