Graham Capital Management L.P. Makes New Investment in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Graham Capital Management L.P. bought a new position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 14,998 shares of the biopharmaceutical company’s stock, valued at approximately $677,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Smartleaf Asset Management LLC grew its position in shares of PTC Therapeutics by 78.7% during the fourth 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. Sterling Capital Management LLC grew its position in shares of PTC Therapeutics by 424.4% during the fourth quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 522 shares during the last quarter. Venturi Wealth Management LLC bought a new position in shares of PTC Therapeutics during the fourth quarter worth about $68,000. R Squared Ltd bought a new position in shares of PTC Therapeutics during the fourth quarter worth about $79,000. Finally, KBC Group NV grew its position in shares of PTC Therapeutics by 36.4% during the fourth 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 last quarter.

Insider Activity

In other PTC Therapeutics news, EVP Lee Scott Golden sold 795 shares of the firm’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 $39,829.50. Following the completion of the transaction, the executive vice president now directly owns 77,856 shares in the company, valued at $3,900,585.60. This trade represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Mark Elliott Boulding sold 1,333 shares of the firm’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 completion of the transaction, the vice president now owns 105,515 shares of the company’s stock, valued at approximately $5,286,301.50. The trade was a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,305 shares of company stock worth $1,682,755. Corporate insiders own 5.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PTCT. Barclays lowered their price target on shares of PTC Therapeutics from $56.00 to $42.00 and set an “equal weight” rating for the company in a research report on Thursday, May 8th. StockNews.com upgraded shares of PTC Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 8th. Bank of America upgraded shares of PTC Therapeutics from a “neutral” rating to a “buy” rating and upped their price target for the stock from $55.00 to $68.00 in a research report on Friday, May 9th. Morgan Stanley reiterated an “overweight” rating and issued a $70.00 target price (up previously from $67.00) on shares of PTC Therapeutics in a research report on Friday, March 7th. Finally, Robert W. Baird decreased their target price on shares of PTC Therapeutics from $70.00 to $66.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PTC Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $61.92.

PTC Therapeutics Trading Up 0.8%

NASDAQ:PTCT opened at $46.75 on Thursday. PTC Therapeutics, Inc. has a twelve month low of $28.72 and a twelve month high of $58.38. The company has a 50-day moving average of $48.62 and a 200-day moving average of $47.09. The firm has a market cap of $3.71 billion, a price-to-earnings ratio of -7.87 and a beta of 0.52.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported $10.04 earnings per share for the quarter, beating the consensus estimate 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. During the same quarter last year, the business posted ($1.20) EPS. The business’s revenue for the quarter was down 9.6% on a year-over-year basis. On average, research analysts forecast that PTC Therapeutics, Inc. will post -4.52 earnings per share 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.