Driehaus Capital Management LLC Makes New $46.99 Million Investment in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Driehaus Capital Management LLC bought a new stake in PTC Therapeutics, Inc. (NASDAQ:PTCT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,041,059 shares of the biopharmaceutical company’s stock, valued at approximately $46,993,000. Driehaus Capital Management LLC owned 1.35% of PTC Therapeutics as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of PTC Therapeutics by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 9,178,822 shares of the biopharmaceutical company’s stock valued at $414,332,000 after buying an additional 53,688 shares during the period. Pictet Asset Management Holding SA grew its stake in PTC Therapeutics by 107.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 736,388 shares of the biopharmaceutical company’s stock worth $33,241,000 after buying an additional 381,319 shares during the last quarter. Northern Trust Corp increased its position in PTC Therapeutics by 7.8% during the fourth quarter. Northern Trust Corp now owns 727,976 shares of the biopharmaceutical company’s stock worth $32,861,000 after buying an additional 52,714 shares during the period. Renaissance Technologies LLC lifted its stake in PTC Therapeutics by 21.3% in the fourth quarter. Renaissance Technologies LLC now owns 653,100 shares of the biopharmaceutical company’s stock valued at $29,481,000 after buying an additional 114,900 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in shares of PTC Therapeutics by 62.9% in the fourth quarter. Alliancebernstein L.P. now owns 361,644 shares of the biopharmaceutical company’s stock valued at $16,325,000 after acquiring an additional 139,596 shares during the period.

PTC Therapeutics Stock Performance

NASDAQ PTCT opened at $40.74 on Thursday. PTC Therapeutics, Inc. has a 1 year low of $28.72 and a 1 year high of $58.38. The stock has a market capitalization of $3.23 billion, a P/E ratio of -6.86 and a beta of 0.52. The business’s fifty day moving average is $49.22 and its two-hundred day moving average is $46.93.

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on PTCT shares. Scotiabank started coverage on shares of PTC Therapeutics in a research report on Friday, March 7th. They set a “sector perform” rating and a $55.00 price objective on the stock. Cantor Fitzgerald cut their price target on PTC Therapeutics from $113.00 to $112.00 and set an “overweight” rating for the company in a report on Wednesday. Citigroup raised shares of PTC Therapeutics from a “sell” rating to a “neutral” rating and cut their target price for the company from $50.00 to $40.00 in a research note on Wednesday. Robert W. Baird cut their target price on PTC Therapeutics from $70.00 to $66.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, StockNews.com cut shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, February 17th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

Insider Buying and Selling

In other PTC Therapeutics news, Director Allan Steven Jacobson sold 1,230 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $51.52, for a total transaction of $63,369.60. Following the completion of the sale, the director now directly owns 19,118 shares in the company, valued at $984,959.36. This represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lee Scott Golden sold 795 shares of PTC Therapeutics stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $50.10, for a total value of $39,829.50. Following the completion of the transaction, the executive vice president now owns 77,856 shares in the company, valued at $3,900,585.60. The trade was a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,305 shares of company stock worth $1,682,755. Corporate 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.