48,728 Shares in PTC Therapeutics, Inc. (NASDAQ:PTCT) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new stake in PTC Therapeutics, Inc. (NASDAQ:PTCT) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 48,728 shares of the biopharmaceutical company’s stock, valued at approximately $2,200,000.

A number of other large investors also recently modified their holdings of PTCT. Smartleaf Asset Management LLC raised its position in shares of PTC Therapeutics by 78.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company’s stock worth $28,000 after acquiring an additional 270 shares in the last quarter. Venturi Wealth Management LLC acquired a new position in PTC Therapeutics during the fourth quarter worth approximately $68,000. R Squared Ltd purchased a new stake in PTC Therapeutics in the fourth quarter valued at approximately $79,000. KBC Group NV boosted its holdings in shares of PTC Therapeutics by 36.4% in the fourth quarter. KBC Group NV now owns 3,045 shares of the biopharmaceutical company’s stock valued at $137,000 after acquiring an additional 813 shares during the period. Finally, Savant Capital LLC acquired a new stake in shares of PTC Therapeutics in the fourth quarter valued at approximately $210,000.

PTC Therapeutics Trading Down 1.4 %

Shares of PTCT stock opened at $54.24 on Monday. The stock has a 50 day simple moving average of $51.04 and a 200-day simple moving average of $45.24. The company has a market cap of $4.28 billion, a price-to-earnings ratio of -9.13 and a beta of 0.66. PTC Therapeutics, Inc. has a 12-month low of $24.00 and a 12-month high of $58.38.

Analyst Ratings Changes

PTCT has been the topic of a number of recent research reports. Cantor Fitzgerald lifted their target price on shares of PTC Therapeutics from $76.00 to $113.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Robert W. Baird lifted their price objective on shares of PTC Therapeutics from $52.00 to $70.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Bank of America upgraded shares of PTC Therapeutics from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $41.00 to $55.00 in a research note on Tuesday, March 11th. Morgan Stanley reissued an “overweight” rating and set a $70.00 price target (up previously from $67.00) on shares of PTC Therapeutics in a report on Friday, March 7th. Finally, StockNews.com downgraded PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $64.00.

Insider Buying and Selling

In other PTC Therapeutics news, CAO Christine Marie Utter sold 1,291 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $45.34, for a total value of $58,533.94. Following the completion of the transaction, the chief accounting officer now directly owns 65,983 shares of the company’s stock, valued at approximately $2,991,669.22. This trade represents a 1.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Mark Elliott Boulding sold 1,543 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $45.34, for a total value of $69,959.62. Following the sale, the vice president now directly owns 108,846 shares in the company, valued at $4,935,077.64. This trade represents a 1.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,391 shares of company stock valued at $2,172,927 over the last quarter. Company insiders own 5.50% of the company’s stock.

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.