23,500 Shares in PTC Therapeutics, Inc. (NASDAQ:PTCT) Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board purchased a new position in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 23,500 shares of the biopharmaceutical company's stock, valued at approximately $1,061,000.

A number of other large investors have also modified their holdings of PTCT. Vontobel Holding Ltd. acquired a new stake in PTC Therapeutics in the 4th quarter worth approximately $521,000. Raymond James Financial Inc. acquired a new stake in shares of PTC Therapeutics during the fourth quarter worth $2,200,000. Natixis Advisors LLC acquired a new stake in shares of PTC Therapeutics during the fourth quarter worth $544,000. Proficio Capital Partners LLC purchased a new stake in shares of PTC Therapeutics during the fourth quarter valued at $758,000. Finally, American Century Companies Inc. increased its position in shares of PTC Therapeutics by 66.8% in the 4th 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 during the period.

Insider Buying and Selling

In related news, VP Mark Elliott Boulding sold 1,333 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total transaction of $66,783.30. Following the completion of the transaction, the vice president now owns 105,515 shares in the company, valued at $5,286,301.50. This represents a 1.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew B. Klein sold 2,804 shares of the firm's stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $48.74, for a total transaction of $136,666.96. Following the completion of the transaction, the chief executive officer now directly owns 273,234 shares in the company, valued at $13,317,425.16. This represents a 1.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,305 shares of company stock valued at $1,682,755. 5.50% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have commented on the company. StockNews.com cut PTC Therapeutics from a "buy" rating to a "hold" rating in a research report on Monday, February 17th. Citigroup lifted their target price on PTC Therapeutics from $32.00 to $45.00 and gave the stock a "sell" rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. cut their price target on shares of PTC Therapeutics from $78.00 to $75.00 and set an "overweight" rating on the stock in a report on Monday, March 31st. Royal Bank of Canada restated an "outperform" rating and set a $65.00 price objective on shares of PTC Therapeutics in a research note on Tuesday, April 22nd. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $70.00 price objective (up previously from $67.00) on shares of PTC Therapeutics in a research note on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, PTC Therapeutics has a consensus rating of "Moderate Buy" and an average target price of $63.92.

PTC Therapeutics Trading Up 0.5 %

Shares of PTC Therapeutics stock traded up $0.23 during trading hours on Monday, reaching $49.76. The stock had a trading volume of 938,302 shares, compared to its average volume of 807,888. The stock's 50 day moving average is $50.07 and its 200 day moving average is $46.62. PTC Therapeutics, Inc. has a twelve month low of $28.72 and a twelve month high of $58.38. The firm has a market capitalization of $3.92 billion, a PE ratio of -8.38 and a beta of 0.58.

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.