Inspire Investing LLC Decreases Stock Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Inspire Investing LLC lessened its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 4.4% during the third quarter, Holdings Channel reports. The institutional investor owned 11,039 shares of the biopharmaceutical company’s stock after selling 506 shares during the quarter. Inspire Investing LLC’s holdings in PTC Therapeutics were worth $410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of PTC Therapeutics by 10.8% during the 4th quarter. Vanguard Group Inc. now owns 8,800,843 shares of the biopharmaceutical company’s stock valued at $242,551,000 after buying an additional 855,354 shares in the last quarter. Los Angeles Capital Management LLC boosted its holdings in shares of PTC Therapeutics by 23.1% in the first quarter. Los Angeles Capital Management LLC now owns 10,800 shares of the biopharmaceutical company’s stock worth $314,000 after acquiring an additional 2,024 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of PTC Therapeutics in the first quarter valued at $46,000. Choreo LLC bought a new stake in shares of PTC Therapeutics during the 1st quarter valued at $319,000. Finally, Duality Advisers LP boosted its stake in PTC Therapeutics by 5.8% in the 1st quarter. Duality Advisers LP now owns 49,322 shares of the biopharmaceutical company’s stock worth $1,435,000 after purchasing an additional 2,724 shares during the period.

Wall Street Analysts Forecast Growth

PTCT has been the topic of a number of recent analyst reports. Raymond James started coverage on shares of PTC Therapeutics in a report on Thursday, October 10th. They issued a “market perform” rating on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $64.00 price target on shares of PTC Therapeutics in a report on Tuesday, September 17th. Barclays increased their price objective on PTC Therapeutics from $25.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Robert W. Baird restated an “outperform” rating and set a $44.00 target price on shares of PTC Therapeutics in a research report on Tuesday, October 8th. Finally, Baird R W raised PTC Therapeutics to a “strong-buy” rating in a report on Wednesday, September 4th. Three analysts have rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $40.08.

PTC Therapeutics Price Performance

Shares of PTCT opened at $39.10 on Friday. PTC Therapeutics, Inc. has a 1 year low of $17.53 and a 1 year high of $41.81. The stock has a 50 day simple moving average of $35.21 and a two-hundred day simple moving average of $33.47. The firm has a market cap of $3.01 billion, a P/E ratio of -6.20 and a beta of 0.65.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.16). The firm had revenue of $186.70 million for the quarter, compared to the consensus estimate of $192.12 million. On average, equities analysts anticipate that PTC Therapeutics, Inc. will post -5.14 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 to patients with rare disorders in the United States and internationally. The company offers Translarna and Emflaza for the treatment of Duchenne muscular dystrophy; Upstaza to treat aromatic l-amino acid decarboxylas (AADC) deficiency, a central nervous system disorder; Tegsedi and Waylivra for the treatment of rare diseases; and Evrysdi to treat spinal muscular atrophy (SMA) in adults and children.