Teachers Retirement System of The State of Kentucky raised its position in PTC Therapeutics, Inc. (NASDAQ:PTCT – Get Rating) by 26.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 144,202 shares of the biopharmaceutical company’s stock after acquiring an additional 30,104 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in PTC Therapeutics were worth $5,380,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd acquired a new stake in shares of PTC Therapeutics during the 4th quarter worth about $112,000. Mayflower Financial Advisors LLC acquired a new stake in shares of PTC Therapeutics during the 1st quarter worth about $230,000. Engineers Gate Manager LP acquired a new stake in shares of PTC Therapeutics during the 1st quarter worth about $261,000. E Fund Management Co. Ltd. acquired a new stake in shares of PTC Therapeutics during the 1st quarter worth about $292,000. Finally, Raymond James & Associates lifted its stake in shares of PTC Therapeutics by 17.5% during the 1st quarter. Raymond James & Associates now owns 8,341 shares of the biopharmaceutical company’s stock worth $311,000 after buying an additional 1,243 shares during the last quarter.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on the stock. Raymond James raised their target price on shares of PTC Therapeutics from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, August 11th. Credit Suisse Group raised their target price on shares of PTC Therapeutics to $55.00 in a research note on Tuesday, August 9th. Jefferies Financial Group began coverage on shares of PTC Therapeutics in a research report on Monday, September 12th. They set a “buy” rating and a $62.00 price target on the stock. Morgan Stanley began coverage on shares of PTC Therapeutics in a research report on Friday, September 9th. They set an “equal weight” rating and a $54.00 price target on the stock. Finally, Royal Bank of Canada raised their price target on shares of PTC Therapeutics from $42.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Thursday, June 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $56.30.
PTC Therapeutics Price Performance
PTC Therapeutics (NASDAQ:PTCT – Get Rating) last released its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($2.13) EPS for the quarter, missing the consensus estimate of ($1.67) by ($0.46). PTC Therapeutics had a negative net margin of 89.89% and a negative return on equity of 983.21%. The firm had revenue of $165.50 million during the quarter, compared to the consensus estimate of $162.53 million. During the same period in the prior year, the business earned ($1.68) earnings per share. PTC Therapeutics’s quarterly revenue was up 41.8% compared to the same quarter last year. On average, analysts anticipate that PTC Therapeutics, Inc. will post -6.24 earnings per share for the current fiscal year.
Insider Buying and Selling at PTC Therapeutics
In related news, Director Stephanie Okey sold 2,296 shares of PTC Therapeutics stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $51.62, for a total transaction of $118,519.52. Following the sale, the director now directly owns 1,867 shares of the company’s stock, valued at approximately $96,374.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.00% of the company’s stock.
About PTC Therapeutics
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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