Teachers Retirement System of The State of Kentucky Buys 3,702 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)


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Teachers Retirement System of The State of Kentucky grew its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 130,488 shares of the biopharmaceutical company’s stock after purchasing an additional 3,702 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.19% of PTC Therapeutics worth $7,963,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of PTCT. Charles Schwab Investment Management Inc. raised its position in shares of PTC Therapeutics by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 443,077 shares of the biopharmaceutical company’s stock valued at $20,714,000 after purchasing an additional 13,032 shares during the period. Advisors Asset Management Inc. raised its position in shares of PTC Therapeutics by 86.3% in the third quarter. Advisors Asset Management Inc. now owns 3,389 shares of the biopharmaceutical company’s stock valued at $158,000 after purchasing an additional 1,570 shares during the period. Polar Capital LLP bought a new stake in shares of PTC Therapeutics in the third quarter valued at approximately $2,338,000. Squarepoint Ops LLC raised its position in shares of PTC Therapeutics by 146.7% in the third quarter. Squarepoint Ops LLC now owns 13,638 shares of the biopharmaceutical company’s stock valued at $638,000 after purchasing an additional 8,109 shares during the period. Finally, Cubist Systematic Strategies LLC raised its position in shares of PTC Therapeutics by 2,111.7% in the third quarter. Cubist Systematic Strategies LLC now owns 19,905 shares of the biopharmaceutical company’s stock valued at $931,000 after purchasing an additional 19,005 shares during the period.

In other news, Director Dawn Svoronos sold 506 shares of the company’s stock in a transaction on Monday, February 1st. The shares were sold at an average price of $56.96, for a total value of $28,821.76. Following the completion of the sale, the director now owns 27,430 shares of the company’s stock, valued at approximately $1,562,412.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stuart Walter Peltz sold 1,968 shares of the company’s stock in a transaction on Monday, February 1st. The shares were sold at an average price of $56.96, for a total transaction of $112,097.28. Following the completion of the sale, the chief executive officer now directly owns 80,315 shares of the company’s stock, valued at approximately $4,574,742.40. The disclosure for this sale can be found here. Insiders sold a total of 37,001 shares of company stock valued at $2,499,228 in the last ninety days. 7.00% of the stock is owned by corporate insiders.

PTCT has been the subject of several recent analyst reports. Cantor Fitzgerald reduced their price objective on shares of PTC Therapeutics from $81.00 to $75.00 and set an “overweight” rating for the company in a research note on Friday, February 26th. Royal Bank of Canada raised shares of PTC Therapeutics from an “underperform” rating to a “sector perform” rating and set a $47.00 price objective for the company in a research note on Monday, March 29th. They noted that the move was a valuation call. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised shares of PTC Therapeutics from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $67.00 to $85.00 in a research note on Tuesday, January 5th. Zacks Investment Research raised shares of PTC Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, March 17th. Finally, Bank of America cut shares of PTC Therapeutics from a “buy” rating to a “neutral” rating in a research note on Friday, February 12th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $65.09.

PTCT stock opened at $48.28 on Thursday. The company has a debt-to-equity ratio of 1.89, a current ratio of 4.90 and a quick ratio of 4.83. PTC Therapeutics, Inc. has a one year low of $40.03 and a one year high of $70.82. The stock has a market cap of $3.40 billion, a PE ratio of -6.91 and a beta of 1.22. The firm has a 50 day simple moving average of $55.17 and a two-hundred day simple moving average of $58.43.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings results on Thursday, February 25th. The biopharmaceutical company reported ($1.08) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.90) by ($0.18). PTC Therapeutics had a negative return on equity of 76.10% and a negative net margin of 123.19%. The company had revenue of $118.86 million during the quarter, compared to analysts’ expectations of $113.47 million. On average, research analysts expect that PTC Therapeutics, Inc. will post -6.26 EPS for the current fiscal year.

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

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