Teachers Retirement System of The State of Kentucky Takes $4.95 Million Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Teachers Retirement System of The State of Kentucky purchased a new stake in PTC Therapeutics, Inc. (NASDAQ:PTCT – Get Rating) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 98,530 shares of the biopharmaceutical company’s stock, valued at approximately $4,947,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of PTCT. Altshuler Shaham Ltd purchased a new position in shares of PTC Therapeutics in the 3rd quarter worth approximately $25,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of PTC Therapeutics in the 3rd quarter worth approximately $34,000. Focused Wealth Management Inc purchased a new position in shares of PTC Therapeutics in the 3rd quarter worth approximately $60,000. Nisa Investment Advisors LLC grew its position in shares of PTC Therapeutics by 26.0% in the 3rd 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 during the last quarter. Finally, Shell Asset Management Co. grew its position in shares of PTC Therapeutics by 87.1% in the 2nd 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 during the last quarter.

PTC Therapeutics Price Performance

PTCT stock opened at $47.30 on Friday. The firm’s fifty day simple moving average is $46.03 and its 200-day simple moving average is $44.60. The company has a market capitalization of $3.49 billion, a P/E ratio of -6.07 and a beta of 0.40. PTC Therapeutics, Inc. has a 12 month low of $25.01 and a 12 month high of $55.58.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PTCT shares. Credit Suisse Group reaffirmed a “neutral” rating and issued a $48.00 price objective on shares of PTC Therapeutics in a research report on Wednesday, February 22nd. Royal Bank of Canada boosted their target price on shares of PTC Therapeutics from $44.00 to $51.00 in a research report on Wednesday, February 22nd. The Goldman Sachs Group initiated coverage on shares of PTC Therapeutics in a research report on Wednesday, December 14th. They set a “sell” rating and a $35.00 target price on the stock. SVB Securities initiated coverage on shares of PTC Therapeutics in a research report on Friday. They set a “market perform” rating and a $48.00 target price on the stock. Finally, SVB Leerink initiated coverage on shares of PTC Therapeutics in a research report on Friday. They set a “market perform” rating and a $48.00 target price on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $52.00.

Insider Activity at PTC Therapeutics

In related news, CEO Stuart Walter Peltz sold 2,320 shares of the business’s stock in a transaction on Tuesday, January 31st. The shares were sold at an average price of $45.63, for a total value of $105,861.60. Following the completion of the transaction, the chief executive officer now directly owns 166,962 shares in the company, valued at approximately $7,618,476.06. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CAO Christine Marie Utter sold 706 shares of the business’s stock in a transaction on Monday, January 9th. The shares were sold at an average price of $41.66, for a total value of $29,411.96. Following the completion of the transaction, the chief accounting officer now directly owns 39,290 shares in the company, valued at approximately $1,636,821.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Stuart Walter Peltz sold 2,320 shares of the business’s stock in a transaction on Tuesday, January 31st. The shares were sold at an average price of $45.63, for a total transaction of $105,861.60. Following the completion of the transaction, the chief executive officer now owns 166,962 shares of the company’s stock, valued at $7,618,476.06. The disclosure for this sale can be found here. Insiders sold a total of 15,951 shares of company stock worth $700,923 in the last three months. Company insiders own 6.00% of the company’s stock.

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.