E Fund Management Co. Ltd. Buys 7,589 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

E Fund Management Co. Ltd. lifted its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 71.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,188 shares of the biopharmaceutical company’s stock after buying an additional 7,589 shares during the quarter. E Fund Management Co. Ltd.’s holdings in PTC Therapeutics were worth $501,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its position in shares of PTC Therapeutics by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 610,918 shares of the biopharmaceutical company’s stock worth $16,837,000 after buying an additional 14,155 shares during the period. Los Angeles Capital Management LLC acquired a new stake in shares of PTC Therapeutics in the fourth quarter valued at approximately $242,000. Victory Capital Management Inc. acquired a new position in PTC Therapeutics during the fourth quarter worth $271,000. Hexagon Capital Partners LLC grew its position in PTC Therapeutics by 132.0% in the fourth quarter. Hexagon Capital Partners LLC now owns 979 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 557 shares in the last quarter. Finally, Headlands Technologies LLC increased its stake in PTC Therapeutics by 248.0% in the 4th quarter. Headlands Technologies LLC now owns 4,684 shares of the biopharmaceutical company’s stock valued at $129,000 after buying an additional 3,338 shares during the last quarter.

Analysts Set New Price Targets

Several research firms have weighed in on PTCT. Jefferies Financial Group boosted their price target on PTC Therapeutics from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Morgan Stanley raised PTC Therapeutics from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $28.00 to $30.00 in a research report on Monday, April 29th. TD Cowen decreased their target price on PTC Therapeutics from $32.00 to $30.00 and set a “market perform” rating on the stock in a report on Friday, March 1st. Royal Bank of Canada boosted their target price on PTC Therapeutics from $22.00 to $28.00 and gave the stock a “sector perform” rating in a report on Friday, March 1st. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 target price on shares of PTC Therapeutics in a report on Friday, April 12th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, PTC Therapeutics presently has an average rating of “Hold” and an average target price of $33.67.

PTC Therapeutics Stock Down 2.0 %

Shares of NASDAQ:PTCT traded down $0.65 during trading on Wednesday, reaching $31.14. 623,773 shares of the company traded hands, compared to its average volume of 972,841. The firm has a market capitalization of $2.39 billion, a PE ratio of -4.05 and a beta of 0.63. PTC Therapeutics, Inc. has a 52 week low of $17.53 and a 52 week high of $59.84. The company’s 50 day moving average is $29.07 and its two-hundred day moving average is $26.44.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.20) earnings per share for the quarter, topping the consensus estimate of ($1.21) by $0.01. The firm had revenue of $210.12 million for the quarter, compared to the consensus estimate of $160.27 million. As a group, research analysts anticipate that PTC Therapeutics, Inc. will post -5.36 EPS for the current year.

Insider Activity

In other news, CEO Matthew B. Klein sold 3,361 shares of PTC Therapeutics stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $24.89, for a total transaction of $83,655.29. Following the completion of the transaction, the chief executive officer now directly owns 225,807 shares in the company, valued at $5,620,336.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 4,849 shares of company stock valued at $124,107 in the last ninety days. 5.30% of the stock is owned by company insiders.

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.