Alliancebernstein L.P. Buys 139,596 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

Alliancebernstein L.P. lifted its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 62.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 361,644 shares of the biopharmaceutical company's stock after purchasing an additional 139,596 shares during the period. Alliancebernstein L.P. owned 0.47% of PTC Therapeutics worth $16,325,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Pictet Asset Management Holding SA grew its holdings in PTC Therapeutics by 107.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 736,388 shares of the biopharmaceutical company's stock worth $33,241,000 after purchasing an additional 381,319 shares during the period. Vanguard Group Inc. increased its position in PTC Therapeutics by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 9,178,822 shares of the biopharmaceutical company's stock valued at $414,332,000 after buying an additional 53,688 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in PTC Therapeutics in the fourth quarter worth approximately $646,000. Sei Investments Co. acquired a new stake in PTC Therapeutics in the fourth quarter valued at approximately $238,000. Finally, American Century Companies Inc. increased its holdings in shares of PTC Therapeutics by 66.8% during the fourth quarter. American Century Companies Inc. now owns 60,150 shares of the biopharmaceutical company's stock valued at $2,715,000 after acquiring an additional 24,090 shares in the last quarter.

Analysts Set New Price Targets

PTCT has been the subject of a number of recent research reports. StockNews.com lowered shares of PTC Therapeutics from a "buy" rating to a "hold" rating in a research note on Monday, February 17th. Cantor Fitzgerald raised their price target on shares of PTC Therapeutics from $76.00 to $113.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Royal Bank of Canada lifted 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. JPMorgan Chase & Co. lowered their target price on PTC Therapeutics from $78.00 to $75.00 and set an "overweight" rating on the stock in a research note on Monday, March 31st. Finally, 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 report on Friday, March 7th. 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 given a strong buy rating to the stock. According to MarketBeat.com, PTC Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $63.77.

PTC Therapeutics Stock Performance

Shares of PTC Therapeutics stock traded up $0.99 during midday trading on Monday, reaching $43.97. 39,077 shares of the company's stock traded hands, compared to its average volume of 814,256. The company has a market cap of $3.47 billion, a PE ratio of -7.40 and a beta of 0.58. The stock has a 50 day moving average of $50.48 and a 200-day moving average of $45.88. PTC Therapeutics, Inc. has a 12 month low of $24.00 and a 12 month high of $58.38.

Insider Activity

In related news, CAO Christine Marie Utter sold 879 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total value of $44,037.90. Following the completion of the transaction, the chief accounting officer now directly owns 63,442 shares in the company, valued at $3,178,444.20. This trade represents a 1.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Mark Elliott Boulding sold 15,521 shares of the company's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $53.30, for a total transaction of $827,269.30. Following the completion of the sale, the vice president now owns 103,901 shares in the company, valued at approximately $5,537,923.30. This trade represents a 13.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,501 shares of company stock valued at $1,546,088. Corporate insiders own 5.50% of the company's stock.

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.