Janney Montgomery Scott LLC Increases Stake in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Janney Montgomery Scott LLC lifted its stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 8.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,965 shares of the biopharmaceutical company’s stock after buying an additional 455 shares during the quarter. Janney Montgomery Scott LLC’s holdings in PTC Therapeutics were worth $269,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in PTCT. Creative Planning raised its position in shares of PTC Therapeutics by 19.0% during the 2nd quarter. Creative Planning now owns 10,128 shares of the biopharmaceutical company’s stock worth $310,000 after acquiring an additional 1,619 shares in the last quarter. CWM LLC grew its position in shares of PTC Therapeutics by 354.7% in the 3rd quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company’s stock valued at $100,000 after buying an additional 2,096 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in PTC Therapeutics by 32.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 492,464 shares of the biopharmaceutical company’s stock worth $18,270,000 after acquiring an additional 119,637 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in PTC Therapeutics by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock valued at $104,000 after acquiring an additional 492 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its holdings in shares of PTC Therapeutics by 64.2% during the third quarter. China Universal Asset Management Co. Ltd. now owns 14,795 shares of the biopharmaceutical company’s stock worth $549,000 after purchasing an additional 5,783 shares during the last quarter.

Wall Street Analyst Weigh In

PTCT has been the subject of several research reports. Robert W. Baird boosted their target price on PTC Therapeutics from $52.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. The Goldman Sachs Group upped their price target on shares of PTC Therapeutics from $32.00 to $42.00 and gave the company a “sell” rating in a research report on Wednesday, December 4th. Cantor Fitzgerald lifted their target price on PTC Therapeutics from $76.00 to $113.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Citigroup boosted their target price on PTC Therapeutics from $26.00 to $32.00 and gave the stock a “sell” rating in a research report on Wednesday, December 4th. Finally, Royal Bank of Canada raised PTC Therapeutics from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $39.00 to $63.00 in a report on Tuesday, December 3rd. Three research analysts have rated the stock with a sell rating, three have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, PTC Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $57.85.

PTC Therapeutics Trading Down 2.4 %

Shares of PTCT opened at $48.63 on Wednesday. PTC Therapeutics, Inc. has a 12-month low of $23.58 and a 12-month high of $54.16. The company has a 50-day moving average of $46.39 and a two-hundred day moving average of $40.51. The stock has a market cap of $3.75 billion, a P/E ratio of -8.19 and a beta of 0.62.

Insiders Place Their Bets

In other news, CEO Matthew B. Klein sold 8,279 shares of PTC Therapeutics stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $45.16, for a total transaction of $373,879.64. Following the completion of the sale, the chief executive officer now directly owns 217,528 shares in the company, valued at $9,823,564.48. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Christine Marie Utter sold 1,291 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $45.34, for a total value of $58,533.94. Following the completion of the transaction, the chief accounting officer now owns 65,983 shares of the company’s stock, valued at $2,991,669.22. This trade represents a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 211,737 shares of company stock valued at $10,920,687. 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.