38,694 Shares in PTC Therapeutics, Inc. (NASDAQ:PTCT) Bought by Putnam Investments LLC

Putnam Investments LLC purchased a new position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT – Get Rating) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 38,694 shares of the biopharmaceutical company’s stock, valued at approximately $1,943,000.

Other institutional investors have also bought and sold shares of the company. Altshuler Shaham Ltd bought a new stake in PTC Therapeutics during the third quarter worth $25,000. China Universal Asset Management Co. Ltd. bought a new stake in PTC Therapeutics during the third quarter worth $34,000. Focused Wealth Management Inc bought a new stake in PTC Therapeutics during the third quarter worth $60,000. Nisa Investment Advisors LLC grew its holdings in PTC Therapeutics by 26.0% during the third quarter. Nisa Investment Advisors LLC now owns 2,514 shares of the biopharmaceutical company’s stock worth $99,000 after buying an additional 518 shares in the last quarter. Finally, Shell Asset Management Co. grew its holdings in PTC Therapeutics by 87.1% during the second quarter. Shell Asset Management Co. now owns 2,925 shares of the biopharmaceutical company’s stock worth $117,000 after buying an additional 1,362 shares in the last quarter.

Insider Buying and Selling

In related news, CFO Emily Luisa Hill sold 575 shares of the stock in a transaction dated Tuesday, January 31st. The stock was sold at an average price of $45.63, for a total transaction of $26,237.25. Following the sale, the chief financial officer now owns 46,288 shares of the company’s stock, valued at approximately $2,112,121.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other PTC Therapeutics news, CEO Stuart Walter Peltz sold 2,320 shares of the firm’s stock in a transaction dated Tuesday, January 31st. The stock was sold at an average price of $45.63, for a total value of $105,861.60. Following the sale, the chief executive officer now owns 166,962 shares of the company’s stock, valued at approximately $7,618,476.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Emily Luisa Hill sold 575 shares of the firm’s stock in a transaction dated Tuesday, January 31st. The shares were sold at an average price of $45.63, for a total value of $26,237.25. Following the completion of the sale, the chief financial officer now directly owns 46,288 shares in the company, valued at approximately $2,112,121.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,951 shares of company stock valued at $700,923. Corporate insiders own 6.00% of the company’s stock.

Wall Street Analyst Weigh In

PTCT has been the subject of a number of recent analyst reports. Cantor Fitzgerald reduced their price objective on PTC Therapeutics from $68.00 to $66.00 and set an “overweight” rating for the company in a research note on Wednesday, February 22nd. Royal Bank of Canada upped their price objective on PTC Therapeutics from $44.00 to $51.00 in a research note on Wednesday, February 22nd. StockNews.com downgraded PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Sunday, February 26th. Morgan Stanley upped their price objective on PTC Therapeutics from $40.00 to $50.00 and gave the company an “equal weight” rating in a research note on Friday, February 3rd. Finally, Raymond James reduced their price objective on PTC Therapeutics from $60.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday, February 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $52.80.

PTC Therapeutics Stock Down 3.7 %

Shares of NASDAQ PTCT opened at $44.23 on Monday. PTC Therapeutics, Inc. has a one year low of $25.01 and a one year high of $55.58. The business’s fifty day moving average price is $45.22 and its 200-day moving average price is $44.69.

PTC Therapeutics (NASDAQ:PTCT – Get Rating) last issued its quarterly earnings data on Tuesday, February 21st. The biopharmaceutical company reported ($2.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.96) by ($0.39). The company had revenue of $167.41 million during the quarter, compared to analyst estimates of $183.07 million. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the business earned ($2.03) earnings per share. As a group, equities analysts anticipate that PTC Therapeutics, Inc. will post -4.56 EPS for the current fiscal year.

PTC Therapeutics Company Profile

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PTC Therapeutics, Inc is a biopharmaceutical company. It engages in discovery, development, and commercialization of clinically differentiated medicines that provide benefits to patients with rare disorders. The company was founded by Allan Steven Jacobson and Stuart Walter Peltz on March 31, 1998 and is headquartered in South Plainfield, NJ.