Hussman Strategic Advisors Inc. Buys New Shares in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Hussman Strategic Advisors Inc. bought a new stake in PTC Therapeutics, Inc. (NASDAQ:PTCT) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 21,000 shares of the biopharmaceutical company’s stock, valued at approximately $948,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Ieq Capital LLC acquired a new position in PTC Therapeutics in the fourth quarter valued at $230,000. Venturi Wealth Management LLC acquired a new position in PTC Therapeutics in the fourth quarter valued at $68,000. Rhumbline Advisers increased its stake in PTC Therapeutics by 1.5% in the fourth quarter. Rhumbline Advisers now owns 112,401 shares of the biopharmaceutical company’s stock valued at $5,074,000 after purchasing an additional 1,630 shares during the last quarter. Vontobel Holding Ltd. acquired a new position in PTC Therapeutics in the fourth quarter valued at $521,000. Finally, Savant Capital LLC acquired a new position in PTC Therapeutics in the fourth quarter valued at $210,000.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Robert W. Baird upped their target price on PTC Therapeutics from $52.00 to $70.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada boosted their price target on PTC Therapeutics from $60.00 to $63.00 and gave the company an “outperform” rating in a research report on Tuesday. Barclays boosted their price target on PTC Therapeutics from $45.00 to $56.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 3rd. Morgan Stanley raised PTC Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $45.00 to $67.00 in a research report on Friday, December 13th. Finally, JPMorgan Chase & Co. boosted their price target on PTC Therapeutics from $51.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, PTC Therapeutics presently has a consensus rating of “Hold” and an average price target of $58.85.

Insider Transactions at PTC Therapeutics

In related news, insider Neil Gregory Almstead sold 69,550 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $52.06, for a total value of $3,620,773.00. Following the completion of the transaction, the insider now owns 86,202 shares of the company’s stock, valued at approximately $4,487,676.12. This represents a 44.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Lee Scott Golden sold 810 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 $36,725.40. Following the completion of the transaction, the executive vice president now directly owns 79,849 shares of the company’s stock, valued at $3,620,353.66. This represents a 1.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 211,737 shares of company stock valued at $10,920,687 over the last quarter. Company insiders own 5.50% of the company’s stock.

PTC Therapeutics Price Performance

Shares of NASDAQ PTCT opened at $50.38 on Friday. PTC Therapeutics, Inc. has a 1-year low of $24.00 and a 1-year high of $54.16. The business has a 50-day moving average of $46.58 and a 200-day moving average of $41.35. The company has a market capitalization of $3.89 billion, a price-to-earnings ratio of -8.48 and a beta of 0.62.

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.