State of New Jersey Common Pension Fund D decreased its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT – Get Rating) by 6.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,727 shares of the biopharmaceutical company’s stock after selling 4,471 shares during the period. State of New Jersey Common Pension Fund D owned about 0.09% of PTC Therapeutics worth $2,452,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Point72 Hong Kong Ltd bought a new stake in PTC Therapeutics during the fourth quarter worth approximately $112,000. Nisa Investment Advisors LLC boosted its position in shares of PTC Therapeutics by 34.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,565 shares of the biopharmaceutical company’s stock valued at $184,000 after acquiring an additional 1,180 shares during the period. Mayflower Financial Advisors LLC bought a new stake in shares of PTC Therapeutics in the first quarter valued at approximately $230,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of PTC Therapeutics by 51.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,000 shares of the biopharmaceutical company’s stock valued at $398,000 after acquiring an additional 3,407 shares during the period. Finally, Ensign Peak Advisors Inc boosted its position in shares of PTC Therapeutics by 53.2% in the fourth quarter. Ensign Peak Advisors Inc now owns 10,000 shares of the biopharmaceutical company’s stock valued at $398,000 after acquiring an additional 3,474 shares during the period.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on the company. Credit Suisse Group increased their price objective on PTC Therapeutics to $52.00 in a research report on Friday, July 22nd. Royal Bank of Canada increased their price objective on PTC Therapeutics from $42.00 to $46.00 and gave the company a “sector perform” rating in a research report on Thursday, June 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $51.75.
PTC Therapeutics Stock Performance
PTC Therapeutics (NASDAQ:PTCT – Get Rating) last released its quarterly earnings results on Tuesday, May 3rd. The biopharmaceutical company reported ($1.78) EPS for the quarter, missing the consensus estimate of ($1.55) by ($0.23). PTC Therapeutics had a negative net margin of 91.68% and a negative return on equity of 983.21%. The company had revenue of $148.74 million for the quarter, compared to the consensus estimate of $146.90 million. During the same period last year, the company earned ($1.83) earnings per share. PTC Therapeutics’s revenue for the quarter was up 26.1% compared to the same quarter last year. As a group, analysts anticipate that PTC Therapeutics, Inc. will post -5.62 EPS for the current fiscal year.
PTC Therapeutics Profile
PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders. Its portfolio pipeline includes commercial products and product candidates in various stages of development, including clinical, pre-clinical and research and discovery stages, focuses on the development of treatments for multiple therapeutic areas, such as rare diseases.
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