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

Raymond James Financial Inc. bought a new position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 48,728 shares of the biopharmaceutical company's stock, valued at approximately $2,200,000. Raymond James Financial Inc. owned approximately 0.06% of PTC Therapeutics at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PTCT. Vontobel Holding Ltd. purchased a new stake in PTC Therapeutics during the 4th quarter worth $521,000. Charles Schwab Investment Management Inc. increased its position in shares of PTC Therapeutics by 7.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 706,730 shares of the biopharmaceutical company's stock worth $26,220,000 after acquiring an additional 47,902 shares during the last quarter. Two Sigma Advisers LP increased its position in shares of PTC Therapeutics by 10.3% during the third quarter. Two Sigma Advisers LP now owns 429,842 shares of the biopharmaceutical company's stock worth $15,947,000 after acquiring an additional 40,300 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of PTC Therapeutics in the fourth quarter worth about $758,000. Finally, State Street Corp boosted its holdings in PTC Therapeutics by 5.4% in the third quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company's stock valued at $107,554,000 after purchasing an additional 149,700 shares during the last quarter.

PTC Therapeutics Stock Down 3.4 %

Shares of NASDAQ:PTCT traded down $1.64 during trading on Thursday, hitting $46.73. 987,958 shares of the company traded hands, compared to its average volume of 795,326. The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of -7.87 and a beta of 0.58. PTC Therapeutics, Inc. has a one year low of $24.00 and a one year high of $58.38. The business's fifty day moving average is $51.28 and its 200-day moving average is $45.49.

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Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PTCT shares. The Goldman Sachs Group lifted their price objective on PTC Therapeutics from $32.00 to $42.00 and gave the stock a "sell" rating in a report on Wednesday, December 4th. Citigroup lifted their price target on shares of PTC Therapeutics from $32.00 to $45.00 and gave the stock a "sell" rating in a research note on Wednesday, February 12th. Morgan Stanley reaffirmed an "overweight" rating and issued a $70.00 price target (up from $67.00) on shares of PTC Therapeutics in a report on Friday, March 7th. Royal Bank of Canada raised their price objective on shares of PTC Therapeutics from $60.00 to $63.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. Finally, StockNews.com lowered shares of PTC Therapeutics from a "buy" rating to a "hold" rating in a research note on Monday, February 17th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, PTC Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $63.77.

Insider Buying and Selling

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 shares were sold at an average price of $45.34, for a total transaction of $58,533.94. Following the completion of the transaction, the chief accounting officer now directly owns 65,983 shares of the company's stock, valued at $2,991,669.22. The trade was a 1.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Stephanie Okey sold 5,000 shares of the company's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $54.00, for a total transaction of $270,000.00. Following the completion of the transaction, the director now owns 8,867 shares of the company's stock, valued at approximately $478,818. This trade represents a 36.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,112 shares of company stock worth $1,799,047 in the last three months. 5.50% of the stock is owned by insiders.

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.