GF Fund Management CO. LTD. Buys Shares of 1,619 PTC Therapeutics, Inc. (NASDAQ:PTCT)

GF Fund Management CO. LTD. purchased a new stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,619 shares of the biopharmaceutical company’s stock, valued at approximately $73,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Janney Montgomery Scott LLC grew its stake in PTC Therapeutics by 8.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 5,965 shares of the biopharmaceutical company’s stock valued at $269,000 after acquiring an additional 455 shares in the last quarter. KBC Group NV boosted its holdings in PTC Therapeutics by 36.4% in the 4th quarter. KBC Group NV now owns 3,045 shares of the biopharmaceutical company’s stock valued at $137,000 after purchasing an additional 813 shares during the period. R Squared Ltd purchased a new position in shares of PTC Therapeutics during the 4th quarter valued at $79,000. China Universal Asset Management Co. Ltd. grew its position in shares of PTC Therapeutics by 10.5% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 16,353 shares of the biopharmaceutical company’s stock valued at $738,000 after purchasing an additional 1,558 shares in the last quarter. Finally, Nadler Financial Group Inc. bought a new position in shares of PTC Therapeutics in the fourth quarter worth $223,000.

Analysts Set New Price Targets

Several research firms recently issued reports on PTCT. Citigroup raised PTC Therapeutics from a “sell” rating to a “neutral” rating and dropped their price objective for the company from $50.00 to $40.00 in a research note on Wednesday, May 7th. Royal Bank of Canada lifted their price target on PTC Therapeutics from $57.00 to $58.00 and gave the company an “outperform” rating in a research report on Wednesday, May 7th. Morgan Stanley reissued an “overweight” rating and set a $70.00 price objective (up previously from $67.00) on shares of PTC Therapeutics in a report on Friday, March 7th. Cantor Fitzgerald lowered their target price on shares of PTC Therapeutics from $113.00 to $112.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 7th. Finally, Wall Street Zen lowered shares of PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has issued 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 a consensus price target of $63.25.

Insider Activity at PTC Therapeutics

In other PTC Therapeutics news, Director Allan Steven Jacobson sold 1,230 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $51.52, for a total value of $63,369.60. Following the sale, the director now owns 19,118 shares of the company’s stock, valued at $984,959.36. This trade represents a 6.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew B. Klein sold 2,804 shares of the company’s stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $48.74, for a total transaction of $136,666.96. Following the transaction, the chief executive officer now directly owns 273,234 shares of the company’s stock, valued at approximately $13,317,425.16. This trade represents a 1.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,264 shares of company stock worth $1,469,137 in the last ninety days. 5.50% of the stock is owned by company insiders.

PTC Therapeutics Stock Performance

Shares of PTC Therapeutics stock opened at $45.93 on Tuesday. PTC Therapeutics, Inc. has a 52-week low of $28.72 and a 52-week high of $58.38. The company has a fifty day moving average of $47.17 and a 200-day moving average of $47.42. The stock has a market capitalization of $3.64 billion, a price-to-earnings ratio of -7.73 and a beta of 0.52.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported $10.04 earnings per share for the quarter, topping the consensus estimate of $0.85 by $9.19. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $437.16 million. During the same period in the prior year, the firm earned ($1.20) earnings per share. The business’s revenue for the quarter was down 9.6% on a year-over-year basis. On average, equities research analysts forecast that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal 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.