Invesco Ltd. Increases Stock Holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Invesco Ltd. lifted its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 107.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 111,391 shares of the biopharmaceutical company's stock after buying an additional 57,582 shares during the period. Invesco Ltd. owned approximately 0.14% of PTC Therapeutics worth $5,028,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of PTCT. Smartleaf Asset Management LLC increased its position in PTC Therapeutics by 78.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company's stock worth $28,000 after purchasing an additional 270 shares during the period. Venturi Wealth Management LLC purchased a new position in PTC Therapeutics in the fourth quarter worth $68,000. R Squared Ltd acquired a new stake in PTC Therapeutics in the fourth quarter valued at $79,000. KBC Group NV boosted its position in shares of PTC Therapeutics by 36.4% during the 4th quarter. KBC Group NV now owns 3,045 shares of the biopharmaceutical company's stock worth $137,000 after purchasing an additional 813 shares in the last quarter. Finally, Savant Capital LLC acquired a new position in shares of PTC Therapeutics during the 4th quarter worth $210,000.

Insider Buying and Selling at PTC Therapeutics

In other news, EVP Lee Scott Golden sold 897 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $46.95, for a total transaction of $42,114.15. Following the completion of the sale, the executive vice president now directly owns 75,997 shares in the company, valued at $3,568,059.15. This represents a 1.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Stephanie Okey sold 5,000 shares of PTC Therapeutics stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $54.00, for a total value of $270,000.00. Following the completion of the transaction, the director now owns 8,867 shares in the company, valued at $478,818. The trade was a 36.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,305 shares of company stock worth $1,682,755 in the last 90 days. 5.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

PTC Therapeutics Stock Down 0.5 %

Shares of PTCT stock traded down $0.24 during mid-day trading on Tuesday, hitting $49.52. 566,895 shares of the company's stock were exchanged, compared to its average volume of 807,283. The stock has a market cap of $3.91 billion, a price-to-earnings ratio of -8.34 and a beta of 0.58. PTC Therapeutics, Inc. has a fifty-two week low of $28.72 and a fifty-two week high of $58.38. The stock has a 50-day simple moving average of $50.06 and a two-hundred day simple moving average of $46.70.

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.