PTC Therapeutics, Inc. (NASDAQ:PTCT) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD reduced its position in PTC Therapeutics, Inc. (NASDAQ:PTCT – Get Rating) by 10.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,467,193 shares of the biopharmaceutical company’s stock after selling 173,793 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in PTC Therapeutics were worth $73,654,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in PTC Therapeutics by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 6,933,076 shares of the biopharmaceutical company’s stock valued at $258,673,000 after acquiring an additional 44,167 shares in the last quarter. RTW Investments LP boosted its stake in shares of PTC Therapeutics by 11.4% in the 3rd quarter. RTW Investments LP now owns 5,620,580 shares of the biopharmaceutical company’s stock valued at $282,153,000 after buying an additional 575,273 shares during the period. State Street Corp boosted its stake in shares of PTC Therapeutics by 13.8% in the 2nd quarter. State Street Corp now owns 3,624,877 shares of the biopharmaceutical company’s stock valued at $145,213,000 after buying an additional 440,850 shares during the period. Macquarie Group Ltd. boosted its stake in shares of PTC Therapeutics by 8.7% in the 2nd quarter. Macquarie Group Ltd. now owns 1,688,734 shares of the biopharmaceutical company’s stock valued at $67,650,000 after buying an additional 135,806 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of PTC Therapeutics by 2.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 512,380 shares of the biopharmaceutical company’s stock valued at $19,117,000 after buying an additional 13,201 shares during the period.

Wall Street Analysts Forecast Growth

PTCT has been the subject of several recent research reports. Credit Suisse Group reiterated a “neutral” rating and issued a $48.00 price objective on shares of PTC Therapeutics in a research note on Wednesday, February 22nd. The Goldman Sachs Group initiated coverage on PTC Therapeutics in a research note on Wednesday, December 14th. They issued a “sell” rating and a $35.00 price objective for the company. StockNews.com cut PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Sunday, February 26th. Raymond James decreased their target price on PTC Therapeutics from $60.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday, February 23rd. Finally, Royal Bank of Canada boosted their target price on PTC Therapeutics from $44.00 to $51.00 in a research note on Wednesday, February 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $52.80.

PTC Therapeutics Stock Up 4.2 %

PTCT opened at $46.08 on Tuesday. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of -5.92 and a beta of 0.40. PTC Therapeutics, Inc. has a 52 week low of $25.01 and a 52 week high of $55.58. The business’s 50 day moving average is $45.38 and its two-hundred day moving average is $44.64.

PTC Therapeutics (NASDAQ:PTCT – Get Rating) last released its quarterly earnings results on Tuesday, February 21st. The biopharmaceutical company reported ($2.35) EPS for the quarter, missing the consensus estimate of ($1.96) by ($0.39). The business had revenue of $167.41 million during the quarter, compared to the consensus estimate of $183.07 million. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter last year, the business posted ($2.03) earnings per share. Equities analysts expect that PTC Therapeutics, Inc. will post -4.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other PTC Therapeutics news, CEO Stuart Walter Peltz sold 2,320 shares of PTC Therapeutics stock in a transaction that occurred on Tuesday, January 31st. The stock was sold at an average price of $45.63, for a total transaction of $105,861.60. Following the transaction, the chief executive officer now owns 166,962 shares of the company’s stock, valued at $7,618,476.06. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Emily Luisa Hill sold 758 shares of the business’s stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $41.66, for a total value of $31,578.28. Following the transaction, the chief financial officer now owns 48,001 shares of the company’s stock, valued at $1,999,721.66. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Stuart Walter Peltz sold 2,320 shares of the business’s stock in a transaction that occurred on Tuesday, January 31st. The shares were sold at an average price of $45.63, for a total value of $105,861.60. Following the completion of the transaction, the chief executive officer now directly owns 166,962 shares in the company, valued at approximately $7,618,476.06. The disclosure for this sale can be found here. Insiders have sold a total of 15,951 shares of company stock valued at $700,923 over the last quarter. Company insiders own 6.00% of the company’s stock.

PTC Therapeutics Company Profile

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PTC Therapeutics, Inc is a biopharmaceutical company. It engages in discovery, development, and commercialization of clinically differentiated medicines that provide benefits to patients with rare disorders. The company was founded by Allan Steven Jacobson and Stuart Walter Peltz on March 31, 1998 and is headquartered in South Plainfield, NJ.