Arizona State Retirement System Boosts Holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Arizona State Retirement System boosted its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT – Get Rating) by 4.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,168 shares of the biopharmaceutical company’s stock after acquiring an additional 721 shares during the period. Arizona State Retirement System’s holdings in PTC Therapeutics were worth $693,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Altshuler Shaham Ltd acquired a new stake in shares of PTC Therapeutics in the third quarter worth $25,000. CWM LLC increased its stake in shares of PTC Therapeutics by 6,878.6% in the fourth quarter. CWM LLC now owns 977 shares of the biopharmaceutical company’s stock worth $37,000 after acquiring an additional 963 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of PTC Therapeutics by 26.0% in the third quarter. Nisa Investment Advisors LLC now owns 2,514 shares of the biopharmaceutical company’s stock worth $99,000 after acquiring an additional 518 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of PTC Therapeutics in the second quarter worth $161,000. Finally, SG Americas Securities LLC acquired a new stake in shares of PTC Therapeutics in the fourth quarter worth $161,000.

PTC Therapeutics Price Performance

Shares of PTCT stock opened at $54.20 on Wednesday. The firm’s 50-day moving average is $50.47 and its two-hundred day moving average is $44.87. PTC Therapeutics, Inc. has a 12 month low of $25.01 and a 12 month high of $57.42. The company has a market capitalization of $4.02 billion, a PE ratio of -6.87 and a beta of 0.43.

PTC Therapeutics (NASDAQ:PTCT – Get Rating) last issued its earnings results on Thursday, April 27th. The biopharmaceutical company reported ($1.88) EPS for the quarter, missing analysts’ consensus estimates of ($1.64) by ($0.24). The business had revenue of $220.38 million for the quarter, compared to the consensus estimate of $200.48 million. During the same quarter in the previous year, the business earned ($1.78) earnings per share. PTC Therapeutics’s revenue for the quarter was up 48.2% compared to the same quarter last year. Sell-side analysts forecast that PTC Therapeutics, Inc. will post -4.76 EPS for the current year.

Analyst Ratings Changes

Several research firms recently commented on PTCT. Royal Bank of Canada raised their price target on shares of PTC Therapeutics from $44.00 to $51.00 in a research report on Wednesday, February 22nd. Citigroup raised their price target on shares of PTC Therapeutics from $61.00 to $67.00 in a research report on Friday, April 28th. Raymond James dropped their price target on shares of PTC Therapeutics from $60.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, February 23rd. Cantor Fitzgerald dropped their target price on shares of PTC Therapeutics from $68.00 to $66.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 22nd. Finally, Credit Suisse Group lifted their target price on shares of PTC Therapeutics from $48.00 to $51.00 in a research report on Friday, April 28th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $53.79.

Insiders Place Their Bets

In other PTC Therapeutics news, CFO Emily Luisa Hill sold 7,363 shares of PTC Therapeutics stock in a transaction dated Monday, March 27th. The shares were sold at an average price of $45.00, for a total transaction of $331,335.00. Following the completion of the sale, the chief financial officer now directly owns 38,925 shares in the company, valued at $1,751,625. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other PTC Therapeutics news, CFO Emily Luisa Hill sold 7,363 shares of PTC Therapeutics stock in a transaction dated Monday, March 27th. The shares were sold at an average price of $45.00, for a total transaction of $331,335.00. Following the completion of the sale, the chief financial officer now directly owns 38,925 shares in the company, valued at $1,751,625. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Allan Steven Jacobson sold 23,000 shares of PTC Therapeutics stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $55.08, for a total transaction of $1,266,840.00. Following the sale, the director now owns 12,348 shares of the company’s stock, valued at $680,127.84. The disclosure for this sale can be found here. Insiders have sold 158,595 shares of company stock valued at $7,968,916 over the last ninety days. Company insiders own 6.00% of the company’s stock.

About PTC Therapeutics

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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.