Vanguard Group Inc. Purchases 53,688 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

Vanguard Group Inc. boosted its position in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 0.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 9,178,822 shares of the biopharmaceutical company’s stock after buying an additional 53,688 shares during the quarter. Vanguard Group Inc. owned about 0.12% of PTC Therapeutics worth $414,332,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its position in PTC Therapeutics by 7.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 706,730 shares of the biopharmaceutical company’s stock valued at $26,220,000 after acquiring an additional 47,902 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of PTC Therapeutics by 6.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,413 shares of the biopharmaceutical company’s stock valued at $572,000 after purchasing an additional 884 shares in the last quarter. Edgestream Partners L.P. lifted its holdings in shares of PTC Therapeutics by 37.6% during the third quarter. Edgestream Partners L.P. now owns 30,383 shares of the biopharmaceutical company’s stock valued at $1,127,000 after purchasing an additional 8,303 shares during the last quarter. Parkman Healthcare Partners LLC bought a new stake in shares of PTC Therapeutics in the 3rd quarter worth approximately $7,234,000. Finally, Point72 Asset Management L.P. grew its stake in shares of PTC Therapeutics by 945.6% in the 3rd quarter. Point72 Asset Management L.P. now owns 575,860 shares of the biopharmaceutical company’s stock worth $21,364,000 after buying an additional 643,960 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Cantor Fitzgerald lifted their price objective on PTC Therapeutics from $76.00 to $113.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Bank of America upgraded shares of PTC Therapeutics from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $41.00 to $55.00 in a research note on Tuesday, March 11th. StockNews.com lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. The Goldman Sachs Group upped their target price on shares of PTC Therapeutics from $32.00 to $42.00 and gave the stock a “sell” rating in a research note on Wednesday, December 4th. Finally, JPMorgan Chase & Co. reduced their price target on shares of PTC Therapeutics from $78.00 to $75.00 and set an “overweight” rating for the company in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.77.

Insider Activity at PTC Therapeutics

In other PTC Therapeutics news, CAO Christine Marie Utter sold 1,291 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $45.34, for a total transaction of $58,533.94. Following the completion of the sale, the chief accounting officer now owns 65,983 shares of the company’s stock, valued at approximately $2,991,669.22. The trade was a 1.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Lee Scott Golden sold 810 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $45.34, for a total value of $36,725.40. Following the completion of the transaction, the executive vice president now directly owns 79,849 shares in the company, valued at $3,620,353.66. This trade represents a 1.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,112 shares of company stock worth $1,799,047. 5.50% of the stock is owned by company insiders.

PTC Therapeutics Stock Up 3.8 %

NASDAQ PTCT opened at $48.37 on Thursday. The company has a 50-day moving average price of $51.27 and a 200-day moving average price of $45.48. PTC Therapeutics, Inc. has a 52 week low of $24.00 and a 52 week high of $58.38. The firm has a market capitalization of $3.81 billion, a P/E ratio of -8.14 and a beta of 0.58.

About PTC Therapeutics

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.