Alps Advisors Inc. Has $3.98 Million Stock Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Alps Advisors Inc. reduced its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 3.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 117,610 shares of the biopharmaceutical company’s stock after selling 4,216 shares during the quarter. Alps Advisors Inc. owned about 0.19% of PTC Therapeutics worth $3,978,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. First Trust Advisors LP raised its stake in PTC Therapeutics by 54.4% during the 3rd quarter. First Trust Advisors LP now owns 49,459 shares of the biopharmaceutical company’s stock worth $1,673,000 after buying an additional 17,429 shares during the period. Mackay Shields LLC increased its holdings in PTC Therapeutics by 2.7% during the 3rd quarter. Mackay Shields LLC now owns 49,610 shares of the biopharmaceutical company’s stock worth $1,678,000 after purchasing an additional 1,300 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in PTC Therapeutics by 513.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 58,401 shares of the biopharmaceutical company’s stock worth $1,975,000 after purchasing an additional 48,879 shares in the last quarter. Emerald Mutual Fund Advisers Trust increased its holdings in PTC Therapeutics by 2.4% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 363,412 shares of the biopharmaceutical company’s stock worth $12,291,000 after purchasing an additional 8,664 shares in the last quarter. Finally, California Public Employees Retirement System increased its holdings in PTC Therapeutics by 41.1% during the 3rd quarter. California Public Employees Retirement System now owns 123,709 shares of the biopharmaceutical company’s stock worth $4,184,000 after purchasing an additional 36,007 shares in the last quarter. 93.70% of the stock is currently owned by institutional investors and hedge funds.

PTCT has been the subject of a number of recent research reports. Credit Suisse Group reissued a “buy” rating and set a $54.00 price objective on shares of PTC Therapeutics in a report on Thursday, October 31st. Royal Bank of Canada reissued a “buy” rating on shares of PTC Therapeutics in a report on Tuesday, September 24th. Zacks Investment Research lowered PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Barclays reissued a “hold” rating and set a $43.00 price objective on shares of PTC Therapeutics in a report on Monday, August 12th. Finally, Cowen reissued a “hold” rating on shares of PTC Therapeutics in a report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $50.00.

Shares of PTCT opened at $41.18 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 4.30 and a current ratio of 4.40. The stock has a 50 day moving average price of $37.17 and a two-hundred day moving average price of $41.10. The firm has a market capitalization of $2.50 billion, a P/E ratio of -22.38 and a beta of 1.88. PTC Therapeutics, Inc. has a 52 week low of $27.53 and a 52 week high of $48.81.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported ($1.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.15). The company had revenue of $71.40 million for the quarter, compared to the consensus estimate of $72.03 million. PTC Therapeutics had a negative return on equity of 31.92% and a negative net margin of 74.86%. The business’s revenue for the quarter was up 33.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.06) earnings per share. On average, equities analysts forecast that PTC Therapeutics, Inc. will post -2.68 earnings per share for the current year.

About PTC Therapeutics

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) and Emflaza (deflazacort) for the treatment of nonsense mutation Duchenne muscular dystrophy in ambulatory patients.

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

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