Handelsbanken Fonder AB Buys 3,400 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

Handelsbanken Fonder AB boosted its stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 25.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,700 shares of the biopharmaceutical company’s stock after acquiring an additional 3,400 shares during the quarter. Handelsbanken Fonder AB’s holdings in PTC Therapeutics were worth $460,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PTCT. Wellington Management Group LLP boosted its position in shares of PTC Therapeutics by 39.0% during the third quarter. Wellington Management Group LLP now owns 9,436,188 shares of the biopharmaceutical company’s stock valued at $211,465,000 after buying an additional 2,649,824 shares during the period. Vanguard Group Inc. boosted its position in shares of PTC Therapeutics by 5.2% during the third quarter. Vanguard Group Inc. now owns 7,945,489 shares of the biopharmaceutical company’s stock valued at $178,058,000 after buying an additional 393,012 shares during the period. Armistice Capital LLC boosted its position in shares of PTC Therapeutics by 90.0% during the third quarter. Armistice Capital LLC now owns 6,150,000 shares of the biopharmaceutical company’s stock valued at $137,822,000 after buying an additional 2,914,000 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in shares of PTC Therapeutics by 10.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,122,698 shares of the biopharmaceutical company’s stock valued at $25,160,000 after buying an additional 104,024 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of PTC Therapeutics by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 596,763 shares of the biopharmaceutical company’s stock valued at $13,373,000 after buying an additional 23,288 shares during the period.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PTCT shares. Jefferies Financial Group boosted their target price on PTC Therapeutics from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. TD Cowen lowered their price target on PTC Therapeutics from $32.00 to $30.00 and set a “market perform” rating for the company in a report on Friday, March 1st. Royal Bank of Canada boosted their price target on PTC Therapeutics from $22.00 to $28.00 and gave the company a “sector perform” rating in a report on Friday, March 1st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price target on shares of PTC Therapeutics in a report on Friday, April 12th. Finally, Morgan Stanley upgraded PTC Therapeutics from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $28.00 to $30.00 in a report on Monday. Four analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $33.67.

PTC Therapeutics Stock Up 6.3 %

PTC Therapeutics stock opened at $34.16 on Thursday. The business has a fifty day moving average of $28.57 and a two-hundred day moving average of $26.06. The firm has a market cap of $2.62 billion, a P/E ratio of -4.45 and a beta of 0.67. PTC Therapeutics, Inc. has a twelve month low of $17.53 and a twelve month high of $59.84.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.21) by $0.01. The business had revenue of $210.12 million for the quarter, compared to analyst estimates of $160.27 million. Equities analysts expect that PTC Therapeutics, Inc. will post -5.03 earnings per share for the current year.

Insider Transactions at PTC Therapeutics

In other news, CEO Matthew B. Klein sold 3,361 shares of the company’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 of the company’s stock, valued at $5,620,336.23. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders have sold 4,674 shares of company stock valued at $118,363. Corporate insiders own 5.30% of the company’s stock.

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.