GC Wealth Management RIA LLC Purchases Shares of 8,032 PTC Therapeutics, Inc. (NASDAQ:PTCT)

GC Wealth Management RIA LLC purchased a new stake in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 8,032 shares of the biopharmaceutical company's stock, valued at approximately $363,000.

A number of other hedge funds have also recently bought and sold shares of PTCT. State of New Jersey Common Pension Fund D grew its stake in PTC Therapeutics by 7.0% in the third quarter. State of New Jersey Common Pension Fund D now owns 56,820 shares of the biopharmaceutical company's stock valued at $2,108,000 after purchasing an additional 3,727 shares in the last quarter. Los Angeles Capital Management LLC grew its stake in PTC Therapeutics by 40.0% in the third quarter. Los Angeles Capital Management LLC now owns 15,130 shares of the biopharmaceutical company's stock valued at $561,000 after purchasing an additional 4,325 shares in the last quarter. KBC Group NV lifted its position in shares of PTC Therapeutics by 29.2% in the third quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company's stock valued at $83,000 after buying an additional 504 shares during the last quarter. Thrivent Financial for Lutherans acquired a new stake in shares of PTC Therapeutics in the third quarter valued at approximately $1,450,000. Finally, Quest Partners LLC lifted its position in shares of PTC Therapeutics by 433.9% in the third quarter. Quest Partners LLC now owns 22,359 shares of the biopharmaceutical company's stock valued at $830,000 after buying an additional 18,171 shares during the last quarter.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PTCT shares. Barclays raised their price objective on PTC Therapeutics from $45.00 to $56.00 and gave the company an "equal weight" rating in a research report on Tuesday, December 3rd. The Goldman Sachs Group raised their price objective on PTC Therapeutics from $32.00 to $42.00 and gave the company a "sell" rating in a research report on Wednesday, December 4th. StockNews.com cut PTC Therapeutics from a "buy" rating to a "hold" rating in a research report on Monday, February 17th. Robert W. Baird raised their price objective on PTC Therapeutics from $52.00 to $70.00 and gave the company an "outperform" rating in a research report on Tuesday, December 3rd. Finally, Bank of America raised PTC Therapeutics from an "underperform" rating to a "neutral" rating and lifted their price target for the stock from $41.00 to $55.00 in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, PTC Therapeutics currently has an average rating of "Moderate Buy" and a consensus target price of $63.54.

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Insider Transactions at PTC Therapeutics

In other news, Director Allan Steven Jacobson sold 1,230 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $51.52, for a total transaction of $63,369.60. Following the completion of the transaction, the director now owns 19,118 shares of the company's stock, valued at approximately $984,959.36. The trade was a 6.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew B. Klein sold 8,279 shares of the firm's stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $45.16, for a total value 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. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,870 shares of company stock valued at $1,075,657. Company insiders own 5.50% of the company's stock.

PTC Therapeutics Stock Up 0.2 %

PTCT stock opened at $52.59 on Wednesday. PTC Therapeutics, Inc. has a 52 week low of $24.00 and a 52 week high of $55.60. The business has a 50-day simple moving average of $48.14 and a 200 day simple moving average of $43.24. The company has a market cap of $4.15 billion, a PE ratio of -8.85 and a beta of 0.66.

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.

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