Brevan Howard Capital Management LP Takes Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Brevan Howard Capital Management LP bought a new stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 12,197 shares of the biopharmaceutical company’s stock, valued at approximately $551,000.

Other large investors have also recently added to or reduced their stakes in the company. Diversified Trust Co boosted its stake in shares of PTC Therapeutics by 10.4% during the 4th quarter. Diversified Trust Co now owns 16,818 shares of the biopharmaceutical company’s stock worth $759,000 after acquiring an additional 1,578 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of PTC Therapeutics by 8.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 5,965 shares of the biopharmaceutical company’s stock valued at $269,000 after purchasing an additional 455 shares during the period. KBC Group NV increased its stake in PTC Therapeutics by 36.4% in 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. R Squared Ltd acquired a new stake in PTC Therapeutics during the 4th quarter worth about $79,000. Finally, China Universal Asset Management Co. Ltd. lifted its stake in PTC Therapeutics by 10.5% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 16,353 shares of the biopharmaceutical company’s stock valued at $738,000 after buying an additional 1,558 shares in the last quarter.

Insiders Place Their Bets

In other news, CAO Christine Marie Utter sold 879 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total value of $44,037.90. Following the completion of the sale, the chief accounting officer now directly owns 63,442 shares in the company, valued at approximately $3,178,444.20. The trade was a 1.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Matthew B. Klein sold 2,804 shares of the firm’s stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $48.74, for a total transaction of $136,666.96. Following the completion of the transaction, the chief executive officer now owns 273,234 shares in the company, valued at $13,317,425.16. The trade was a 1.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,305 shares of company stock valued at $1,682,755 over the last 90 days. 5.50% of the stock is currently owned by company insiders.

PTC Therapeutics Trading Up 4.0 %

PTCT stock opened at $44.23 on Friday. The firm has a market cap of $3.50 billion, a PE ratio of -7.45 and a beta of 0.52. PTC Therapeutics, Inc. has a 1 year low of $28.72 and a 1 year high of $58.38. The company has a fifty day simple moving average of $48.86 and a 200 day simple moving average of $46.99.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported $10.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $9.19. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $437.16 million. PTC Therapeutics’s quarterly revenue was down 9.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.20) EPS. As a group, analysts forecast that PTC Therapeutics, Inc. will post -4.52 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PTCT. JPMorgan Chase & Co. cut their price target on shares of PTC Therapeutics from $75.00 to $67.00 and set an “overweight” rating on the stock in a report on Wednesday. Bank of America raised PTC Therapeutics from a “neutral” rating to a “buy” rating and raised their target price for the stock from $55.00 to $68.00 in a research report on Friday. Barclays decreased their price objective on PTC Therapeutics from $56.00 to $42.00 and set an “equal weight” rating for the company in a research report on Thursday. Citigroup upgraded PTC Therapeutics from a “sell” rating to a “neutral” rating and dropped their target price for the company from $50.00 to $40.00 in a report on Wednesday. Finally, Scotiabank initiated coverage on shares of PTC Therapeutics in a report on Friday, March 7th. They set a “sector perform” rating and a $55.00 price target for the company. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.92.

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.