Inspire Investing LLC Sells 1,912 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

Inspire Investing LLC trimmed its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 17.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,127 shares of the biopharmaceutical company’s stock after selling 1,912 shares during the period. Inspire Investing LLC’s holdings in PTC Therapeutics were worth $412,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PTCT. KBC Group NV raised its position in shares of PTC Therapeutics by 29.2% during the 3rd quarter. KBC Group NV now owns 2,232 shares of the biopharmaceutical company’s stock valued at $83,000 after purchasing an additional 504 shares during the period. CWM LLC raised its position in shares of PTC Therapeutics by 354.7% during the 3rd quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company’s stock valued at $100,000 after purchasing an additional 2,096 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of PTC Therapeutics by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,782 shares of the biopharmaceutical company’s stock valued at $104,000 after purchasing an additional 492 shares during the period. Quarry LP raised its position in shares of PTC Therapeutics by 100.0% during the 2nd quarter. Quarry LP now owns 5,000 shares of the biopharmaceutical company’s stock valued at $153,000 after purchasing an additional 2,500 shares during the period. Finally, Janney Montgomery Scott LLC raised its position in shares of PTC Therapeutics by 8.3% during 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.

Insider Activity at PTC Therapeutics

In related news, EVP Lee Scott Golden sold 810 shares of PTC Therapeutics stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $45.34, for a total transaction of $36,725.40. Following the completion of the sale, the executive vice president now owns 79,849 shares in the company, valued at $3,620,353.66. This trade represents a 1.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Mark Elliott Boulding sold 85,600 shares of PTC Therapeutics stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $52.26, for a total transaction of $4,473,456.00. Following the sale, the vice president now owns 92,389 shares of the company’s stock, valued at $4,828,249.14. The trade was a 48.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 211,737 shares of company stock worth $10,920,687 in the last 90 days. 5.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PTCT. Cantor Fitzgerald cut their target price on shares of PTC Therapeutics from $80.00 to $76.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Royal Bank of Canada raised shares of PTC Therapeutics from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $39.00 to $63.00 in a research note on Tuesday, December 3rd. Wells Fargo & Company raised their target price on shares of PTC Therapeutics from $56.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. StockNews.com cut shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Finally, Morgan Stanley raised shares of PTC Therapeutics from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $45.00 to $67.00 in a research note on Friday, December 13th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $55.00.

PTC Therapeutics Trading Up 0.6 %

PTCT stock opened at $46.45 on Friday. PTC Therapeutics, Inc. has a 12 month low of $23.58 and a 12 month high of $54.16. The company has a 50-day moving average price of $45.49 and a 200 day moving average price of $39.28. The stock has a market cap of $3.58 billion, a PE ratio of -7.82 and a beta of 0.62.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($1.39) EPS for the quarter, topping analysts’ consensus estimates of ($1.54) by $0.15. The firm had revenue of $196.79 million for the quarter, compared to analysts’ expectations of $173.51 million. During the same period in the prior year, the firm posted ($1.76) earnings per share. Sell-side analysts forecast that PTC Therapeutics, Inc. will post -4.66 EPS for the current year.

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.