SPX Gestao de Recursos Ltda Takes Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

SPX Gestao de Recursos Ltda bought a new stake in PTC Therapeutics, Inc. (NASDAQ:PTCT) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 25,000 shares of the biopharmaceutical company’s stock, valued at approximately $1,128,000.

Other large investors also recently made changes to their positions in the company. Vontobel Holding Ltd. acquired a new stake in shares of PTC Therapeutics in the 4th quarter valued at about $521,000. Charles Schwab Investment Management Inc. boosted its stake 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 purchasing an additional 47,902 shares during the last quarter. Two Sigma Advisers LP boosted its stake in PTC Therapeutics by 10.3% during the 3rd quarter. Two Sigma Advisers LP now owns 429,842 shares of the biopharmaceutical company’s stock valued at $15,947,000 after purchasing an additional 40,300 shares during the last quarter. Intech Investment Management LLC acquired a new position in PTC Therapeutics during the 3rd quarter valued at about $698,000. Finally, Quest Partners LLC boosted its stake in PTC Therapeutics by 433.9% during the 3rd quarter. Quest Partners LLC now owns 22,359 shares of the biopharmaceutical company’s stock valued at $830,000 after purchasing an additional 18,171 shares during the last quarter.

PTC Therapeutics Trading Down 0.2 %

NASDAQ:PTCT opened at $52.49 on Tuesday. The stock has a market capitalization of $4.14 billion, a PE ratio of -8.84 and a beta of 0.66. The firm’s 50 day moving average is $47.99 and its 200 day moving average is $43.11. PTC Therapeutics, Inc. has a 12 month low of $24.00 and a 12 month high of $55.60.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Citigroup lifted their price target on PTC Therapeutics from $32.00 to $45.00 and gave the company a “sell” rating in a research note on Wednesday, February 12th. Royal Bank of Canada lifted their price target on PTC Therapeutics from $60.00 to $63.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Scotiabank assumed coverage on PTC Therapeutics in a research note on Friday. They set a “sector perform” rating and a $55.00 price target for the company. Barclays lifted their price target on PTC Therapeutics from $45.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 3rd. Finally, Morgan Stanley reiterated an “overweight” rating and set a $70.00 price target (up previously from $67.00) on shares of PTC Therapeutics in a research note on Friday. Three analysts have rated the stock with a sell rating, four 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 MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $61.77.

Insider Buying and Selling

In related news, Director Allan Steven Jacobson sold 1,230 shares of PTC Therapeutics stock in a transaction that occurred 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 approximately $984,959.36. The trade was a 6.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Pierre Gravier sold 1,168 shares of PTC Therapeutics stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $50.10, for a total transaction of $58,516.80. Following the completion of the sale, the chief financial officer now directly owns 75,603 shares in the company, valued at $3,787,710.30. This trade represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,870 shares of company stock valued at $1,075,657. 5.50% of the stock is owned by company insiders.

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.