Sector Gamma AS reduced its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 47.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 121,402 shares of the biopharmaceutical company’s stock after selling 108,096 shares during the period. Sector Gamma AS owned 0.20% of PTC Therapeutics worth $4,106,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PTCT. Handelsbanken Fonder AB bought a new stake in PTC Therapeutics in the second quarter worth about $12,150,000. Focused Wealth Management Inc purchased a new position in shares of PTC Therapeutics in the second quarter worth about $54,000. Strs Ohio increased its stake in shares of PTC Therapeutics by 7.3% in the second quarter. Strs Ohio now owns 14,700 shares of the biopharmaceutical company’s stock worth $661,000 after purchasing an additional 1,000 shares in the last quarter. Quantitative Systematic Strategies LLC purchased a new position in shares of PTC Therapeutics in the second quarter worth about $484,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of PTC Therapeutics in the second quarter worth about $257,000. 93.70% of the stock is currently owned by institutional investors.
NASDAQ:PTCT traded up $1.26 during mid-day trading on Friday, hitting $41.18. 685,600 shares of the stock traded hands, compared to its average volume of 740,757. PTC Therapeutics, Inc. has a 12-month low of $27.53 and a 12-month high of $48.81. The company has a market cap of $2.50 billion, a PE ratio of -22.38 and a beta of 1.88. The business’s 50-day moving average price is $37.17 and its 200 day moving average price is $41.10. The company has a quick ratio of 4.30, a current ratio of 4.40 and a debt-to-equity ratio of 0.44.
PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.91) by ($0.15). The company had revenue of $71.40 million during the quarter, compared to analyst estimates of $72.03 million. PTC Therapeutics had a negative net margin of 74.86% and a negative return on equity of 31.92%. The company’s revenue was up 33.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.06) earnings per share. Analysts anticipate that PTC Therapeutics, Inc. will post -2.68 earnings per share for the current fiscal year.
PTCT has been the subject of several recent research reports. Barclays reiterated a “hold” rating and issued a $43.00 target price on shares of PTC Therapeutics in a research note on Monday, August 12th. Credit Suisse Group reiterated a “buy” rating and issued a $54.00 target price on shares of PTC Therapeutics in a research note on Thursday, October 31st. ValuEngine upgraded shares of PTC Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. TheStreet upgraded shares of PTC Therapeutics from a “d” rating to a “c-” rating in a research note on Tuesday, October 29th. Finally, Citigroup reduced their target price on shares of PTC Therapeutics from $62.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $50.00.
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) and Emflaza (deflazacort) for the treatment of nonsense mutation Duchenne muscular dystrophy in ambulatory patients.
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