First Trust Advisors LP purchased a new position in PTC Therapeutics, Inc. (NASDAQ:PTCT) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 143,657 shares of the biopharmaceutical company’s stock, valued at approximately $4,846,000. First Trust Advisors LP owned approximately 0.31% of PTC Therapeutics as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently bought and sold shares of PTCT. Scopia Capital Management LP grew its stake in PTC Therapeutics by 42.7% in the first quarter. Scopia Capital Management LP now owns 5,914,052 shares of the biopharmaceutical company’s stock worth $160,034,000 after purchasing an additional 1,770,782 shares in the last quarter. Frontier Capital Management Co. LLC grew its stake in PTC Therapeutics by 508.6% in the first quarter. Frontier Capital Management Co. LLC now owns 640,281 shares of the biopharmaceutical company’s stock worth $17,326,000 after purchasing an additional 535,076 shares in the last quarter. BlackRock Inc. grew its stake in PTC Therapeutics by 6.1% in the first quarter. BlackRock Inc. now owns 3,281,710 shares of the biopharmaceutical company’s stock worth $88,804,000 after purchasing an additional 188,311 shares in the last quarter. Opaleye Management Inc. acquired a new position in PTC Therapeutics in the first quarter worth about $3,923,000. Finally, Millennium Management LLC grew its stake in PTC Therapeutics by 22.0% in the first quarter. Millennium Management LLC now owns 677,501 shares of the biopharmaceutical company’s stock worth $18,333,000 after purchasing an additional 122,296 shares in the last quarter. Institutional investors and hedge funds own 91.98% of the company’s stock.
A number of equities analysts recently commented on the company. ValuEngine downgraded PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, May 23rd. Barclays lifted their price target on PTC Therapeutics from $40.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 8th. Zacks Investment Research downgraded PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, May 9th. Credit Suisse Group began coverage on PTC Therapeutics in a research note on Thursday, July 19th. They issued an “outperform” rating and a $49.00 price target for the company. Finally, Citigroup restated a “buy” rating and issued a $50.00 target price (up from $35.00) on shares of PTC Therapeutics in a research note on Tuesday, July 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $32.86.
Shares of PTCT stock opened at $42.00 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.34 and a quick ratio of 4.18. PTC Therapeutics, Inc. has a 52 week low of $14.56 and a 52 week high of $52.95. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of -20.79 and a beta of 1.79.
PTC Therapeutics (NASDAQ:PTCT) last issued its earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.21) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.36) by $0.15. PTC Therapeutics had a negative return on equity of 27.41% and a negative net margin of 25.03%. The company had revenue of $68.74 million during the quarter, compared to the consensus estimate of $69.83 million. analysts predict that PTC Therapeutics, Inc. will post -0.65 earnings per share for the current fiscal year.
In other PTC Therapeutics news, EVP Neil Gregory Almstead sold 20,000 shares of PTC Therapeutics stock in a transaction that occurred on Tuesday, June 19th. The stock was sold at an average price of $48.31, for a total value of $966,200.00. Following the completion of the transaction, the executive vice president now directly owns 37,154 shares in the company, valued at $1,794,909.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 7.50% of the company’s stock.
PTC Therapeutics Profile
PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines for the treatment of rare disorders. The company offers Translarna (ataluren) for the treatment of nonsense mutation Duchenne muscular dystrophy in ambulatory patients; and Emflaza (deflazacort) for treating Duchenne muscular dystrophy.
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