BI Asset Management Fondsmaeglerselskab A S Purchases 64,472 Shares of PTC Therapeutics, Inc. $PTCT

BI Asset Management Fondsmaeglerselskab A S grew its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 67.9% in the fourth quarter, Holdings Channel reports. The fund owned 159,477 shares of the biopharmaceutical company’s stock after buying an additional 64,472 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in PTC Therapeutics were worth $12,114,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC boosted its position in shares of PTC Therapeutics by 101.3% during the 3rd quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 236 shares during the last quarter. Allworth Financial LP lifted its position in PTC Therapeutics by 63.8% in the fourth quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company’s stock worth $48,000 after buying an additional 247 shares during the last quarter. Optiver Holding B.V. lifted its position in PTC Therapeutics by 96.5% in the third quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock worth $31,000 after buying an additional 249 shares during the last quarter. Measured Wealth Private Client Group LLC lifted its position in PTC Therapeutics by 5.6% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 4,963 shares of the biopharmaceutical company’s stock worth $377,000 after buying an additional 265 shares during the last quarter. Finally, IFP Advisors Inc lifted its position in PTC Therapeutics by 68.1% in the third quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock worth $47,000 after buying an additional 310 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PTCT. Jefferies Financial Group upgraded PTC Therapeutics from a “hold” rating to a “buy” rating and raised their price target for the stock from $76.00 to $85.00 in a research report on Wednesday, May 27th. Barclays restated an “overweight” rating and issued a $120.00 price target on shares of PTC Therapeutics in a research report on Monday, February 23rd. TD Cowen upgraded PTC Therapeutics from a “hold” rating to a “buy” rating and raised their price target for the stock from $75.00 to $90.00 in a research report on Friday, May 8th. Weiss Ratings downgraded PTC Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Finally, Raymond James Financial began coverage on PTC Therapeutics in a research report on Friday, April 10th. They issued an “outperform” rating and a $108.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $89.00.

PTC Therapeutics Stock Up 0.5%

PTCT stock opened at $70.97 on Friday. The business’s fifty day simple moving average is $69.90 and its two-hundred day simple moving average is $72.27. PTC Therapeutics, Inc. has a twelve month low of $43.17 and a twelve month high of $87.50. The firm has a market cap of $5.89 billion, a price-to-earnings ratio of -30.46, a PEG ratio of 5.99 and a beta of 0.56.

PTC Therapeutics (NASDAQ:PTCT) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.42. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 22.58%.The business had revenue of $272.55 million for the quarter, compared to analyst estimates of $217.42 million. During the same quarter last year, the firm posted $10.04 earnings per share. The business’s revenue was up 43.5% compared to the same quarter last year. Research analysts expect that PTC Therapeutics, Inc. will post 0.43 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Matthew B. Klein sold 12,572 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $72.95, for a total transaction of $917,127.40. Following the transaction, the chief executive officer owned 393,998 shares in the company, valued at approximately $28,742,154.10. This trade represents a 3.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Stephanie Okey sold 15,167 shares of the firm’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $70.00, for a total value of $1,061,690.00. Following the transaction, the director owned 8,000 shares in the company, valued at approximately $560,000. This represents a 65.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 94,700 shares of company stock valued at $6,637,971. Insiders own 5.50% of the company’s stock.

PTC Therapeutics Profile

PTC Therapeutics, Inc is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule and biologic therapies for the treatment of rare genetic disorders. Since its founding in 1998, PTC has dedicated its efforts to addressing high unmet medical needs by targeting underlying genetic causes of disease. The company’s research platform emphasizes mechanisms such as nonsense suppression and RNA modulation, enabling the development of novel treatments for conditions with limited therapeutic options.

Among PTC’s approved products is Translarna (ataluren), a first-in-class therapy designed to treat nonsense mutation Duchenne muscular dystrophy in select markets.