1,706 Shares in PTC Therapeutics, Inc. (NASDAQ:PTCT) Purchased by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. acquired a new position in PTC Therapeutics, Inc. (NASDAQ:PTCT) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,706 shares of the biopharmaceutical company’s stock, valued at approximately $77,000.

A number of other large investors have also modified their holdings of PTCT. Point72 Asset Management L.P. increased its stake in PTC Therapeutics by 150.6% during the 4th quarter. Point72 Asset Management L.P. now owns 1,443,362 shares of the biopharmaceutical company’s stock valued at $65,153,000 after buying an additional 867,502 shares during the period. Point72 Hong Kong Ltd increased its stake in PTC Therapeutics by 184.5% during the 4th quarter. Point72 Hong Kong Ltd now owns 32,436 shares of the biopharmaceutical company’s stock valued at $1,464,000 after buying an additional 21,034 shares during the period. ProShare Advisors LLC increased its stake in PTC Therapeutics by 32.5% during the 4th quarter. ProShare Advisors LLC now owns 25,102 shares of the biopharmaceutical company’s stock valued at $1,133,000 after buying an additional 6,164 shares during the period. Quantinno Capital Management LP acquired a new position in PTC Therapeutics during the 4th quarter valued at about $436,000. Finally, MPM Bioimpact LLC increased its stake in PTC Therapeutics by 384.6% during the 4th quarter. MPM Bioimpact LLC now owns 434,767 shares of the biopharmaceutical company’s stock valued at $19,625,000 after buying an additional 345,052 shares during the period.

Analysts Set New Price Targets

Several equities analysts have commented on PTCT shares. Scotiabank started coverage on shares of PTC Therapeutics in a research note on Friday, March 7th. They set a “sector perform” rating and a $55.00 target price on the stock. Morgan Stanley restated an “overweight” rating and set a $70.00 price objective (up previously from $67.00) on shares of PTC Therapeutics in a research report on Friday, March 7th. Bank of America upgraded shares of PTC Therapeutics from a “neutral” rating to a “buy” rating and raised their price objective for the company from $55.00 to $68.00 in a research report on Friday, May 9th. JPMorgan Chase & Co. reduced their price objective on shares of PTC Therapeutics from $75.00 to $67.00 and set an “overweight” rating for the company in a research report on Wednesday, May 7th. Finally, StockNews.com lowered shares of PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $61.92.

PTC Therapeutics Stock Performance

PTCT stock opened at $46.01 on Friday. The stock has a market cap of $3.65 billion, a P/E ratio of -7.75 and a beta of 0.52. The firm has a 50 day simple moving average of $48.22 and a 200 day simple moving average of $47.19. PTC Therapeutics, Inc. has a 52 week low of $28.72 and a 52 week high of $58.38.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported $10.04 EPS for the quarter, topping the consensus estimate of $0.85 by $9.19. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $437.16 million. The business’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) earnings per share. Sell-side analysts predict that PTC Therapeutics, Inc. will post -4.52 EPS for the current year.

Insider Buying and Selling

In related news, Director Stephanie Okey sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $54.00, for a total transaction of $270,000.00. Following the completion of the sale, the director now directly owns 8,867 shares in the company, valued at approximately $478,818. This trade represents a 36.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Christine Marie Utter sold 879 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total transaction of $44,037.90. Following the transaction, the chief accounting officer now directly owns 63,442 shares in the company, 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. Over the last three months, insiders sold 32,305 shares of company stock worth $1,682,755. 5.50% of the stock is owned by company insiders.

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.