Pictet Asset Management Holding SA Increases Stock Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Pictet Asset Management Holding SA lifted its stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 107.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 736,388 shares of the biopharmaceutical company's stock after purchasing an additional 381,319 shares during the period. Pictet Asset Management Holding SA owned 0.95% of PTC Therapeutics worth $33,241,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in PTC Therapeutics by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 9,178,822 shares of the biopharmaceutical company's stock worth $414,332,000 after buying an additional 53,688 shares during the last quarter. State Street Corp boosted its position in shares of PTC Therapeutics by 5.4% during the 3rd quarter. State Street Corp now owns 2,899,040 shares of the biopharmaceutical company's stock valued at $107,554,000 after acquiring an additional 149,700 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of PTC Therapeutics by 0.6% in the third quarter. Geode Capital Management LLC now owns 1,798,666 shares of the biopharmaceutical company's stock valued at $66,743,000 after purchasing an additional 10,886 shares during the period. Charles Schwab Investment Management Inc. increased its position in PTC Therapeutics by 7.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 706,730 shares of the biopharmaceutical company's stock worth $26,220,000 after purchasing an additional 47,902 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its stake in PTC Therapeutics by 945.6% during the third quarter. Point72 Asset Management L.P. now owns 575,860 shares of the biopharmaceutical company's stock worth $21,364,000 after purchasing an additional 643,960 shares during the period.

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Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PTCT shares. Royal Bank of Canada increased their price target on shares of PTC Therapeutics from $60.00 to $63.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. Cantor Fitzgerald raised their target price on PTC Therapeutics from $76.00 to $113.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Bank of America raised PTC Therapeutics from an "underperform" rating to a "neutral" rating and upped their price target for the company from $41.00 to $55.00 in a research note on Tuesday, March 11th. Morgan Stanley reissued an "overweight" rating and set a $70.00 price objective (up from $67.00) on shares of PTC Therapeutics in a research report on Friday, March 7th. Finally, Scotiabank initiated coverage on shares of PTC Therapeutics in a report on Friday, March 7th. They issued a "sector perform" rating and a $55.00 price objective on the stock. Two analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $63.77.

PTC Therapeutics Stock Performance

Shares of NASDAQ:PTCT traded down $3.49 during trading hours on Friday, reaching $43.24. The stock had a trading volume of 1,309,479 shares, compared to its average volume of 798,535. PTC Therapeutics, Inc. has a 1 year low of $24.00 and a 1 year high of $58.38. The firm's 50 day moving average is $51.22 and its 200-day moving average is $45.56. The stock has a market capitalization of $3.41 billion, a price-to-earnings ratio of -7.28 and a beta of 0.58.

Insider Activity at PTC Therapeutics

In other news, Director Stephanie Okey sold 5,000 shares of the company's 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 approximately $478,818. This represents a 36.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Eric Pauwels sold 1,599 shares of PTC Therapeutics stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $45.34, for a total transaction of $72,498.66. Following the sale, the chief executive officer now owns 88,941 shares in the company, valued at $4,032,584.94. This represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,009 shares of company stock valued at $1,841,161 over the last quarter. 5.50% of the stock is owned by insiders.

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.