Strs Ohio decreased its position in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 19.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,900 shares of the biopharmaceutical company’s stock after selling 3,600 shares during the quarter. Strs Ohio’s holdings in PTC Therapeutics were worth $705,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in PTCT. Janus Henderson Group PLC boosted its stake in shares of PTC Therapeutics by 48.4% during the 4th quarter. Janus Henderson Group PLC now owns 2,996,421 shares of the biopharmaceutical company’s stock valued at $182,875,000 after buying an additional 977,858 shares during the last quarter. Norges Bank purchased a new position in shares of PTC Therapeutics during the 4th quarter valued at approximately $33,828,000. BlackRock Inc. boosted its stake in shares of PTC Therapeutics by 5.0% during the 4th quarter. BlackRock Inc. now owns 6,028,119 shares of the biopharmaceutical company’s stock valued at $367,897,000 after buying an additional 285,694 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of PTC Therapeutics during the 4th quarter valued at approximately $13,561,000. Finally, Redwood Investments LLC boosted its stake in shares of PTC Therapeutics by 61.9% during the 4th quarter. Redwood Investments LLC now owns 364,837 shares of the biopharmaceutical company’s stock valued at $22,266,000 after buying an additional 139,482 shares during the last quarter.
Several research firms have recently commented on PTCT. Royal Bank of Canada upgraded PTC Therapeutics from an “underperform” rating to a “sector perform” rating and set a $47.00 target price for the company in a research note on Monday, March 29th. They noted that the move was a valuation call. Bank of America cut PTC Therapeutics from a “buy” rating to a “neutral” rating in a research note on Friday, February 12th. Cantor Fitzgerald reduced their price objective on PTC Therapeutics from $81.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday, February 26th. Credit Suisse Group assumed coverage on PTC Therapeutics in a research note on Monday, April 26th. They set a “neutral” rating and a $54.00 price objective on the stock. Finally, Zacks Investment Research cut PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, April 30th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. PTC Therapeutics presently has an average rating of “Buy” and an average price target of $63.91.
PTC Therapeutics (NASDAQ:PTCT) last issued its earnings results on Tuesday, May 4th. The biopharmaceutical company reported ($1.83) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.59) by ($0.24). The company had revenue of $117.94 million during the quarter, compared to analyst estimates of $98.77 million. PTC Therapeutics had a negative return on equity of 76.10% and a negative net margin of 123.19%. PTC Therapeutics’s quarterly revenue was up 72.8% on a year-over-year basis. During the same period in the prior year, the business earned ($1.81) earnings per share. Equities research analysts expect that PTC Therapeutics, Inc. will post -6.26 earnings per share for the current fiscal year.
In other news, insider Eric Pauwels sold 786 shares of the firm’s stock in a transaction on Monday, April 19th. The stock was sold at an average price of $48.17, for a total transaction of $37,861.62. Following the transaction, the insider now directly owns 35,701 shares of the company’s stock, valued at $1,719,717.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 7.00% of the stock is currently owned by company insiders.
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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