Charles Schwab Investment Management Inc. Boosts Stake in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Charles Schwab Investment Management Inc. lifted its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 7.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 706,730 shares of the biopharmaceutical company's stock after purchasing an additional 47,902 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.92% of PTC Therapeutics worth $26,220,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Diversified Trust Co boosted its stake in PTC Therapeutics by 5.6% during the second quarter. Diversified Trust Co now owns 15,317 shares of the biopharmaceutical company's stock worth $468,000 after buying an additional 818 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of PTC Therapeutics by 21.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 372,827 shares of the biopharmaceutical company's stock worth $11,401,000 after acquiring an additional 66,596 shares during the last quarter. Neo Ivy Capital Management purchased a new position in shares of PTC Therapeutics during the 2nd quarter worth approximately $1,245,000. Sanibel Captiva Trust Company Inc. purchased a new position in shares of PTC Therapeutics during the 2nd quarter worth approximately $205,000. Finally, Bank of New York Mellon Corp increased its holdings in PTC Therapeutics by 17.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 279,049 shares of the biopharmaceutical company's stock valued at $8,533,000 after purchasing an additional 40,840 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PTCT. Cantor Fitzgerald restated an "overweight" rating and set a $64.00 price target on shares of PTC Therapeutics in a research report on Tuesday, September 17th. Wells Fargo & Company upped their price objective on PTC Therapeutics from $56.00 to $68.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 26th. Morgan Stanley lifted their target price on PTC Therapeutics from $32.00 to $45.00 and gave the company an "equal weight" rating in a report on Friday, October 11th. Robert W. Baird lifted their price objective on PTC Therapeutics from $52.00 to $70.00 and gave the company an "outperform" rating in a research note on Tuesday. Finally, UBS Group upped their target price on shares of PTC Therapeutics from $47.00 to $71.00 and gave the stock a "buy" rating in a research note on Tuesday. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $52.38.

Insider Transactions at PTC Therapeutics

In related news, Director Jerome B. Zeldis sold 24,000 shares of the company's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $51.50, for a total value of $1,236,000.00. Following the completion of the transaction, the director now directly owns 14,500 shares in the company, valued at approximately $746,750. This represents a 62.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Mark Elliott Boulding sold 85,600 shares of PTC Therapeutics stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $52.26, for a total value of $4,473,456.00. Following the completion of the sale, the vice president now owns 92,389 shares of the company's stock, valued at $4,828,249.14. This trade represents a 48.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 196,950 shares of company stock valued at $10,251,735 over the last three months. 5.50% of the stock is currently owned by insiders.

PTC Therapeutics Stock Down 2.9 %

PTCT traded down $1.46 on Thursday, hitting $48.40. 595,398 shares of the company traded hands, compared to its average volume of 856,337. The company has a 50 day moving average of $41.06 and a 200-day moving average of $36.66. PTC Therapeutics, Inc. has a 12-month low of $23.58 and a 12-month high of $54.16.

About PTC Therapeutics

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.