48,728 Shares in PTC Therapeutics, Inc. (NASDAQ:PTCT) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 48,728 shares of the biopharmaceutical company’s stock, valued at approximately $2,200,000. Raymond James Financial Inc. owned 0.06% of PTC Therapeutics as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Thrivent Financial for Lutherans purchased a new position in shares of PTC Therapeutics in the third quarter valued at approximately $1,450,000. Charles Schwab Investment Management Inc. raised its stake in PTC Therapeutics by 7.3% in 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. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in PTC Therapeutics by 6.1% in the 3rd 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. boosted its stake in PTC Therapeutics by 37.6% during the 3rd quarter. Edgestream Partners L.P. now owns 30,383 shares of the biopharmaceutical company’s stock worth $1,127,000 after purchasing an additional 8,303 shares during the last quarter. Finally, Parkman Healthcare Partners LLC acquired a new stake in PTC Therapeutics during the 3rd quarter worth $7,234,000.

Analyst Ratings Changes

PTCT has been the topic of several research reports. StockNews.com downgraded shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Morgan Stanley reissued an “overweight” rating and issued a $70.00 target price (up from $67.00) on shares of PTC Therapeutics in a research note on Friday, March 7th. Scotiabank began coverage on PTC Therapeutics in a report on Friday, March 7th. They set a “sector perform” rating and a $55.00 target price on the stock. The Goldman Sachs Group increased their price target on PTC Therapeutics from $32.00 to $42.00 and gave the company a “sell” rating in a report on Wednesday, December 4th. Finally, Royal Bank of Canada boosted their price objective on PTC Therapeutics from $60.00 to $63.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $64.00.

Insider Buying and Selling at PTC Therapeutics

In other PTC Therapeutics news, VP Mark Elliott Boulding sold 15,521 shares of PTC Therapeutics stock in a transaction dated 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 of the company’s stock, valued at $5,537,923.30. The trade was a 13.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Allan Steven Jacobson sold 1,230 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $51.52, for a total transaction of $63,369.60. Following the sale, the director now directly owns 19,118 shares in the company, valued at approximately $984,959.36. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,391 shares of company stock worth $2,172,927 over the last three months. Insiders own 5.50% of the company’s stock.

PTC Therapeutics Trading Down 1.4 %

Shares of PTCT opened at $54.24 on Monday. The company’s 50-day moving average price is $51.04 and its 200 day moving average price is $45.24. PTC Therapeutics, Inc. has a 12-month low of $24.00 and a 12-month high of $58.38. The firm has a market cap of $4.28 billion, a P/E ratio of -9.13 and a beta of 0.66.

PTC Therapeutics 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.