ProShare Advisors LLC Buys 6,164 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

ProShare Advisors LLC raised its stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 32.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,102 shares of the biopharmaceutical company’s stock after buying an additional 6,164 shares during the period. ProShare Advisors LLC’s holdings in PTC Therapeutics were worth $1,133,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Smartleaf Asset Management LLC increased its stake in shares of PTC Therapeutics by 78.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 270 shares during the period. Sterling Capital Management LLC increased its stake in shares of PTC Therapeutics by 424.4% in the fourth quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 522 shares during the period. Venturi Wealth Management LLC bought a new position in shares of PTC Therapeutics in the fourth quarter worth about $68,000. R Squared Ltd bought a new position in shares of PTC Therapeutics in the fourth quarter worth about $79,000. Finally, KBC Group NV increased its stake in shares of PTC Therapeutics by 36.4% in the fourth quarter. KBC Group NV now owns 3,045 shares of the biopharmaceutical company’s stock worth $137,000 after purchasing an additional 813 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Citigroup upgraded PTC Therapeutics from a “sell” rating to a “neutral” rating and dropped their price objective for the stock from $50.00 to $40.00 in a research note on Wednesday, May 7th. Scotiabank started coverage on PTC Therapeutics in a research report on Friday, March 7th. They set a “sector perform” rating and a $55.00 target price on the stock. Wall Street Zen downgraded PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 16th. JPMorgan Chase & Co. decreased their target price on PTC Therapeutics from $75.00 to $67.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 7th. Finally, Morgan Stanley reissued an “overweight” rating and set a $70.00 target price (up from $67.00) on shares of PTC Therapeutics in a research report on Friday, March 7th. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $63.25.

PTC Therapeutics Trading Down 1.5%

NASDAQ PTCT opened at $45.52 on Friday. The stock’s 50 day moving average is $47.58 and its two-hundred day moving average is $47.32. The company has a market capitalization of $3.61 billion, a price-to-earnings ratio of -7.66 and a beta of 0.52. PTC Therapeutics, Inc. has a 1-year low of $28.72 and a 1-year high of $58.38.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported $10.04 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.20) earnings per share. On average, analysts predict that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current year.

Insider Buying and Selling at PTC Therapeutics

In other news, EVP Lee Scott Golden sold 897 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $46.95, for a total value of $42,114.15. Following the transaction, the executive vice president now directly owns 75,997 shares of the company’s stock, valued at $3,568,059.15. The trade was a 1.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Mark Elliott Boulding sold 15,521 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $53.30, for a total value of $827,269.30. Following the completion of the transaction, the vice president now directly owns 103,901 shares in the company, valued at $5,537,923.30. The trade was a 13.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,264 shares of company stock valued at $1,469,137. 5.50% of the stock is currently owned by corporate 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.