PTC Therapeutics, Inc. (PTCT) Holdings Boosted by Pictet Asset Management Ltd.

Pictet Asset Management Ltd. grew its stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 302.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 214,793 shares of the biopharmaceutical company’s stock after buying an additional 161,393 shares during the period. Pictet Asset Management Ltd. owned approximately 0.43% of PTC Therapeutics worth $10,095,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Metropolitan Life Insurance Co. NY boosted its holdings in PTC Therapeutics by 13.5% during the second quarter. Metropolitan Life Insurance Co. NY now owns 14,769 shares of the biopharmaceutical company’s stock worth $498,000 after buying an additional 1,753 shares during the last quarter. MetLife Investment Advisors LLC boosted its holdings in PTC Therapeutics by 9.6% during the second quarter. MetLife Investment Advisors LLC now owns 21,050 shares of the biopharmaceutical company’s stock worth $710,000 after buying an additional 1,850 shares during the last quarter. Elk Creek Partners LLC boosted its holdings in PTC Therapeutics by 0.8% during the third quarter. Elk Creek Partners LLC now owns 271,035 shares of the biopharmaceutical company’s stock worth $12,739,000 after buying an additional 2,211 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in PTC Therapeutics by 15.1% during the first quarter. Principal Financial Group Inc. now owns 28,171 shares of the biopharmaceutical company’s stock worth $762,000 after buying an additional 3,704 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its holdings in PTC Therapeutics by 17.7% during the second quarter. State Board of Administration of Florida Retirement System now owns 26,057 shares of the biopharmaceutical company’s stock worth $879,000 after buying an additional 3,920 shares during the last quarter. Hedge funds and other institutional investors own 93.19% of the company’s stock.

NASDAQ:PTCT opened at $33.36 on Friday. PTC Therapeutics, Inc. has a fifty-two week low of $15.60 and a fifty-two week high of $52.95. The company has a current ratio of 2.73, a quick ratio of 2.61 and a debt-to-equity ratio of 0.37.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings data on Monday, November 5th. The biopharmaceutical company reported ($1.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.40) by ($0.66). PTC Therapeutics had a negative net margin of 30.61% and a negative return on equity of 27.95%. The business had revenue of $53.59 million for the quarter, compared to the consensus estimate of $70.56 million. During the same quarter last year, the firm earned ($0.82) EPS. The company’s revenue for the quarter was up 28.0% on a year-over-year basis. As a group, research analysts expect that PTC Therapeutics, Inc. will post -1.92 earnings per share for the current year.

PTCT has been the topic of a number of recent analyst reports. Credit Suisse Group set a $55.00 target price on PTC Therapeutics and gave the stock a “buy” rating in a report on Wednesday, October 3rd. Cantor Fitzgerald initiated coverage on PTC Therapeutics in a report on Monday, October 1st. They set an “overweight” rating and a $66.00 target price on the stock. ValuEngine cut PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 6th. Barclays reduced their target price on PTC Therapeutics from $43.00 to $40.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 6th. Finally, William Blair restated a “buy” rating on shares of PTC Therapeutics in a report on Wednesday, October 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. PTC Therapeutics presently 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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