Harbor Capital Advisors Inc. Cuts Stock Holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Harbor Capital Advisors Inc. lowered its position in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 22.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,725 shares of the biopharmaceutical company’s stock after selling 11,891 shares during the period. Harbor Capital Advisors Inc. owned about 0.05% of PTC Therapeutics worth $2,075,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of PTC Therapeutics by 0.6% during the 4th 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 in the last quarter. Toronto Dominion Bank acquired a new position in PTC Therapeutics during the fourth quarter worth $148,363,000. Janus Henderson Group PLC raised its position in PTC Therapeutics by 24.4% in the fourth quarter. Janus Henderson Group PLC now owns 2,325,915 shares of the biopharmaceutical company’s stock worth $105,015,000 after acquiring an additional 455,698 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in PTC Therapeutics by 150.6% in the fourth quarter. Point72 Asset Management L.P. now owns 1,443,362 shares of the biopharmaceutical company’s stock valued at $65,153,000 after acquiring an additional 867,502 shares during the period. Finally, Nuveen Asset Management LLC lifted its holdings in PTC Therapeutics by 34.0% in the fourth quarter. Nuveen Asset Management LLC now owns 1,077,794 shares of the biopharmaceutical company’s stock valued at $48,652,000 after acquiring an additional 273,638 shares during the period.

PTC Therapeutics Stock Performance

Shares of NASDAQ:PTCT opened at $50.82 on Thursday. The business’s fifty day moving average price is $46.65 and its two-hundred day moving average price is $48.01. The stock has a market cap of $4.03 billion, a PE ratio of -8.56 and a beta of 0.51. PTC Therapeutics, Inc. has a one year low of $28.72 and a one year high of $58.38.

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

Insider Transactions at PTC Therapeutics

In related 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 value of $42,114.15. Following the completion of the transaction, the executive vice president now directly owns 75,997 shares in the company, valued at approximately $3,568,059.15. This represents a 1.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Mark Elliott Boulding sold 1,929 shares of PTC Therapeutics stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $46.18, for a total value of $89,081.22. Following the completion of the sale, the vice president now owns 103,901 shares of the company’s stock, valued at $4,798,148.18. This trade represents a 1.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,513 shares of company stock worth $308,498 over the last ninety days. 5.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PTCT. Citigroup raised shares of PTC Therapeutics from a “sell” rating to a “neutral” rating and lowered their price target for the stock from $50.00 to $40.00 in a research note on Wednesday, May 7th. Royal Bank of Canada boosted their price objective on shares of PTC Therapeutics from $57.00 to $58.00 and gave the stock an “outperform” rating in a report on Wednesday, May 7th. Cantor Fitzgerald dropped their target price on shares of PTC Therapeutics from $113.00 to $112.00 and set an “overweight” rating for the company in a report on Wednesday, May 7th. Robert W. Baird reduced their price target on shares of PTC Therapeutics from $70.00 to $66.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. Finally, Morgan Stanley restated an “overweight” rating and issued a $70.00 price target (up previously from $67.00) on shares of PTC Therapeutics in a report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PTC Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $63.75.

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.