Candriam S.C.A. Has $11.86 Million Stock Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Candriam S.C.A. lifted its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 5.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 291,652 shares of the biopharmaceutical company’s stock after purchasing an additional 14,000 shares during the quarter. Candriam S.C.A. owned approximately 0.39% of PTC Therapeutics worth $11,861,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of PTC Therapeutics by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 7,211,720 shares of the biopharmaceutical company’s stock valued at $362,027,000 after purchasing an additional 28,028 shares during the period. RTW Investments LP raised its stake in PTC Therapeutics by 26.3% during the first quarter. RTW Investments LP now owns 7,093,298 shares of the biopharmaceutical company’s stock worth $343,599,000 after acquiring an additional 1,477,911 shares in the last quarter. State Street Corp raised its stake in PTC Therapeutics by 13.8% during the second quarter. State Street Corp now owns 3,624,877 shares of the biopharmaceutical company’s stock worth $145,213,000 after acquiring an additional 440,850 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of PTC Therapeutics by 33.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,717,765 shares of the biopharmaceutical company’s stock valued at $83,210,000 after acquiring an additional 433,376 shares during the period. Finally, Macquarie Group Ltd. boosted its stake in shares of PTC Therapeutics by 4.9% in the 1st quarter. Macquarie Group Ltd. now owns 1,643,150 shares of the biopharmaceutical company’s stock valued at $79,594,000 after purchasing an additional 76,470 shares in the last quarter.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Barclays dropped their target price on shares of PTC Therapeutics from $26.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, October 27th. Morgan Stanley cut their target price on shares of PTC Therapeutics from $31.00 to $28.00 and set an “equal weight” rating for the company in a research note on Friday, October 27th. Royal Bank of Canada dropped their price target on PTC Therapeutics from $49.00 to $26.00 and set a “sector perform” rating for the company in a report on Monday, September 18th. The Goldman Sachs Group reduced their price objective on PTC Therapeutics from $35.00 to $22.00 and set a “sell” rating on the stock in a research note on Monday, September 18th. Finally, Citigroup lowered PTC Therapeutics from a “neutral” rating to a “sell” rating and lowered their target price for the company from $29.00 to $17.00 in a research note on Friday, October 27th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, PTC Therapeutics has an average rating of “Hold” and an average target price of $36.54.

Insider Buying and Selling

In related news, Director Alethia Young sold 11,666 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $39.86, for a total transaction of $465,006.76. Following the completion of the transaction, the director now owns 9,067 shares in the company, valued at $361,410.62. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.30% of the stock is owned by insiders.

PTC Therapeutics Price Performance

PTCT stock opened at $18.72 on Friday. PTC Therapeutics, Inc. has a twelve month low of $17.53 and a twelve month high of $59.84. The business’s fifty day moving average is $25.35 and its 200-day moving average is $37.82.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported ($1.76) EPS for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.91). The company had revenue of $196.60 million during the quarter, compared to analyst estimates of $210.23 million. During the same period in the previous year, the company earned ($1.53) EPS. The company’s revenue was down 9.4% compared to the same quarter last year. On average, equities research analysts forecast that PTC Therapeutics, Inc. will post -6.02 EPS for the current year.

PTC Therapeutics Company 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.