Marshall Wace North America L.P. Decreases Stake in PTC Therapeutics, Inc. (PTCT)

Marshall Wace North America L.P. cut its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 74.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 442,860 shares of the biopharmaceutical company’s stock after selling 1,267,114 shares during the period. Marshall Wace North America L.P. owned about 0.88% of PTC Therapeutics worth $20,814,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. PointState Capital LP acquired a new position in shares of PTC Therapeutics in the 2nd quarter valued at about $10,929,000. SG Americas Securities LLC acquired a new position in shares of PTC Therapeutics in the 2nd quarter valued at about $284,000. Bank of New York Mellon Corp boosted its holdings in shares of PTC Therapeutics by 3.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 185,830 shares of the biopharmaceutical company’s stock valued at $6,269,000 after buying an additional 6,600 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in shares of PTC Therapeutics by 32.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 295,635 shares of the biopharmaceutical company’s stock valued at $9,972,000 after buying an additional 72,308 shares during the period. Finally, ClariVest Asset Management LLC acquired a new position in shares of PTC Therapeutics in the 2nd quarter valued at about $2,079,000. 93.19% of the stock is owned by institutional investors and hedge funds.

PTC Therapeutics stock opened at $33.36 on Friday. The company has a quick ratio of 2.61, a current ratio of 2.73 and a debt-to-equity ratio of 0.37. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of -16.51 and a beta of 2.27. PTC Therapeutics, Inc. has a 52-week low of $15.60 and a 52-week high of $52.95.

PTC Therapeutics (NASDAQ:PTCT) last posted its earnings results on Monday, November 5th. The biopharmaceutical company reported ($1.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.66). The firm had revenue of $53.59 million for the quarter, compared to analyst estimates of $70.56 million. PTC Therapeutics had a negative net margin of 30.61% and a negative return on equity of 27.95%. The company’s revenue for the quarter was up 28.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.82) earnings per share. Equities analysts forecast that PTC Therapeutics, Inc. will post -1.92 EPS for the current fiscal year.

A number of research analysts have issued reports on PTCT shares. Credit Suisse Group set a $55.00 target price on shares of PTC Therapeutics and gave the company a “buy” rating in a research note on Wednesday, October 3rd. Cantor Fitzgerald started coverage on shares of PTC Therapeutics in a research note on Monday, October 1st. They set an “overweight” rating and a $66.00 target price for the company. ValuEngine lowered shares of PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 6th. Barclays reduced their target price on shares of PTC Therapeutics from $43.00 to $40.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 6th. Finally, William Blair reissued a “buy” rating on shares of PTC Therapeutics in a research note on Wednesday, October 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. PTC Therapeutics has an average rating of “Buy” and a consensus price target of $45.63.

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PTC Therapeutics Company Profile

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines for the treatment of rare disorders. The company offers Translarna (ataluren) for the treatment of nonsense mutation Duchenne muscular dystrophy in ambulatory patients; and Emflaza (deflazacort) for treating Duchenne muscular dystrophy.

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

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