DekaBank Deutsche Girozentrale Buys 5,016 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

DekaBank Deutsche Girozentrale grew its stake in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 20.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,016 shares of the biopharmaceutical company’s stock after buying an additional 5,016 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in PTC Therapeutics were worth $887,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Victory Capital Management Inc. bought a new position in PTC Therapeutics during the 4th quarter worth about $271,000. Charles Schwab Investment Management Inc. boosted its position in shares of PTC Therapeutics by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 610,918 shares of the biopharmaceutical company’s stock worth $16,837,000 after buying an additional 14,155 shares during the period. Norges Bank bought a new position in shares of PTC Therapeutics during the fourth quarter worth about $15,058,000. UBS Group AG raised its position in PTC Therapeutics by 270.8% in the 4th quarter. UBS Group AG now owns 288,748 shares of the biopharmaceutical company’s stock valued at $7,958,000 after buying an additional 210,883 shares during the last quarter. Finally, Rafferty Asset Management LLC lifted its stake in PTC Therapeutics by 64.8% in the 4th quarter. Rafferty Asset Management LLC now owns 339,963 shares of the biopharmaceutical company’s stock valued at $9,369,000 after acquiring an additional 133,676 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PTCT shares. Baird R W raised shares of PTC Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. The Goldman Sachs Group lifted their price target on shares of PTC Therapeutics from $18.00 to $32.00 and gave the company a “sell” rating in a research note on Tuesday, May 28th. Robert W. Baird started coverage on shares of PTC Therapeutics in a report on Wednesday, September 4th. They issued an “outperform” rating and a $44.00 price objective on the stock. UBS Group started coverage on shares of PTC Therapeutics in a research note on Monday, August 26th. They set a “buy” rating and a $47.00 target price for the company. Finally, Bank of America upped their price target on shares of PTC Therapeutics from $25.00 to $32.00 and gave the company an “underperform” rating in a research note on Friday, June 21st. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, PTC Therapeutics presently has an average rating of “Hold” and an average price target of $37.64.

PTC Therapeutics Stock Performance

Shares of NASDAQ PTCT opened at $36.16 on Friday. PTC Therapeutics, Inc. has a 52 week low of $17.53 and a 52 week high of $40.69. The stock’s fifty day moving average is $33.35 and its 200 day moving average is $32.38. The stock has a market capitalization of $2.77 billion, a P/E ratio of -4.71 and a beta of 0.64.

PTC Therapeutics (NASDAQ:PTCT) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.16) EPS for the quarter, missing the consensus estimate of ($1.00) by ($0.16). The firm had revenue of $186.70 million for the quarter, compared to the consensus estimate of $192.12 million. Equities research analysts forecast that PTC Therapeutics, Inc. will post -5.09 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Pierre Gravier sold 2,269 shares of PTC Therapeutics stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $34.02, for a total value of $77,191.38. Following the transaction, the chief financial officer now owns 53,531 shares in the company, valued at approximately $1,821,124.62. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 5.50% 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.