PTC Therapeutics, Inc. (NASDAQ:PTCT) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. grew its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 10.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 8,800,843 shares of the biopharmaceutical company’s stock after buying an additional 855,354 shares during the period. Vanguard Group Inc. owned approximately 0.11% of PTC Therapeutics worth $242,551,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. Hexagon Capital Partners LLC boosted its stake in shares of PTC Therapeutics by 132.0% during the 4th quarter. Hexagon Capital Partners LLC now owns 979 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 557 shares in the last quarter. Headlands Technologies LLC boosted its position in PTC Therapeutics by 248.0% during the fourth quarter. Headlands Technologies LLC now owns 4,684 shares of the biopharmaceutical company’s stock worth $129,000 after purchasing an additional 3,338 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in PTC Therapeutics by 349.6% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,727 shares of the biopharmaceutical company’s stock valued at $241,000 after purchasing an additional 6,786 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of PTC Therapeutics during the 4th quarter worth $242,000. Finally, Victory Capital Management Inc. purchased a new stake in shares of PTC Therapeutics in the 4th quarter worth about $271,000.

Wall Street Analyst Weigh In

PTCT has been the subject of a number of research reports. Bank of America lifted their target price on shares of PTC Therapeutics from $25.00 to $32.00 and gave the stock an “underperform” rating in a research report on Friday, June 21st. JPMorgan Chase & Co. reissued an “overweight” rating and set a $53.00 price target on shares of PTC Therapeutics in a research report on Thursday, June 20th. Raymond James upgraded PTC Therapeutics from an “underperform” rating to a “market perform” rating in a research report on Monday, May 20th. Morgan Stanley upgraded PTC Therapeutics from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $28.00 to $30.00 in a research report on Monday, April 29th. Finally, The Goldman Sachs Group upped their target price on shares of PTC Therapeutics from $18.00 to $32.00 and gave the company a “sell” rating in a report on Tuesday, May 28th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $37.40.

Insider Buying and Selling

In other PTC Therapeutics news, Director Jerome B. Zeldis sold 20,000 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $38.24, for a total transaction of $764,800.00. Following the completion of the transaction, the director now directly owns 14,500 shares of the company’s stock, valued at approximately $554,480. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Matthew B. Klein sold 3,361 shares of the firm’s stock in a transaction on Friday, April 19th. The stock was sold at an average price of $24.89, for a total transaction of $83,655.29. Following the transaction, the chief executive officer now directly owns 225,807 shares in the company, valued at $5,620,336.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jerome B. Zeldis sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $38.24, for a total transaction of $764,800.00. Following the completion of the transaction, the director now owns 14,500 shares in the company, valued at $554,480. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,323 shares of company stock worth $873,984. Insiders own 5.50% of the company’s stock.

PTC Therapeutics Price Performance

NASDAQ:PTCT opened at $31.17 on Tuesday. The business’s 50-day moving average is $34.33 and its two-hundred day moving average is $30.08. The firm has a market capitalization of $2.39 billion, a PE ratio of -4.06 and a beta of 0.65. PTC Therapeutics, Inc. has a 12 month low of $17.53 and a 12 month high of $42.63.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.21) by $0.01. The firm had revenue of $210.12 million for the quarter, compared to analysts’ expectations of $160.27 million. Equities analysts anticipate that PTC Therapeutics, Inc. will post -4.88 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.