Advisors Asset Management Inc. Sells 3,084 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

Advisors Asset Management Inc. lowered its stake in PTC Therapeutics, Inc. (NASDAQ:PTCTGet Rating) by 33.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,163 shares of the biopharmaceutical company’s stock after selling 3,084 shares during the quarter. Advisors Asset Management Inc.’s holdings in PTC Therapeutics were worth $247,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in PTCT. State Street Corp lifted its stake in shares of PTC Therapeutics by 13.7% in the 1st quarter. State Street Corp now owns 3,184,027 shares of the biopharmaceutical company’s stock valued at $118,796,000 after purchasing an additional 382,596 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of PTC Therapeutics by 25.1% in the 1st quarter. JPMorgan Chase & Co. now owns 789,735 shares of the biopharmaceutical company’s stock valued at $29,466,000 after purchasing an additional 158,330 shares during the period. Handelsbanken Fonder AB lifted its stake in shares of PTC Therapeutics by 37.3% in the 2nd quarter. Handelsbanken Fonder AB now owns 520,400 shares of the biopharmaceutical company’s stock valued at $20,847,000 after purchasing an additional 141,400 shares during the period. Redwood Investments LLC lifted its stake in shares of PTC Therapeutics by 32.7% in the 2nd quarter. Redwood Investments LLC now owns 471,978 shares of the biopharmaceutical company’s stock valued at $18,907,000 after purchasing an additional 116,317 shares during the period. Finally, Loomis Sayles & Co. L P lifted its stake in shares of PTC Therapeutics by 7.2% in the 1st quarter. Loomis Sayles & Co. L P now owns 1,646,784 shares of the biopharmaceutical company’s stock valued at $61,441,000 after purchasing an additional 110,561 shares during the period.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Barclays cut their price target on PTC Therapeutics to $47.00 in a research note on Tuesday, November 1st. Cowen dropped their price objective on PTC Therapeutics to $44.00 in a research note on Tuesday, November 1st. StockNews.com raised PTC Therapeutics from a “hold” rating to a “buy” rating in a research note on Monday, October 31st. Credit Suisse Group dropped their price objective on PTC Therapeutics from $55.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, October 28th. Finally, Raymond James raised their price objective on PTC Therapeutics from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, August 11th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $55.50.

PTC Therapeutics Trading Up 3.8 %

PTCT stock opened at $40.48 on Monday. The stock has a 50-day moving average price of $45.90 and a two-hundred day moving average price of $42.60. The stock has a market cap of $2.91 billion, a PE ratio of -5.42 and a beta of 0.43. PTC Therapeutics, Inc. has a 1 year low of $25.01 and a 1 year high of $55.58.

Insider Activity

In other news, VP Mark Elliott Boulding sold 1,176 shares of the firm’s stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $55.00, for a total value of $64,680.00. Following the completion of the transaction, the vice president now owns 61,110 shares in the company, valued at approximately $3,361,050. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.00% of the stock is owned by corporate insiders.

PTC Therapeutics Profile

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PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders. Its portfolio pipeline includes commercial products and product candidates in various stages of development, including clinical, pre-clinical and research and discovery stages, focuses on the development of treatments for multiple therapeutic areas, such as rare diseases.

See Also

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Institutional Ownership by Quarter for PTC Therapeutics (NASDAQ:PTCT)

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