New York State Common Retirement Fund Sells 16,864 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

New York State Common Retirement Fund trimmed its position in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 22.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 56,983 shares of the biopharmaceutical company’s stock after selling 16,864 shares during the quarter. New York State Common Retirement Fund’s holdings in PTC Therapeutics were worth $1,570,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its holdings in PTC Therapeutics by 12.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,075 shares of the biopharmaceutical company’s stock worth $114,000 after purchasing an additional 559 shares in the last quarter. Knights of Columbus Asset Advisors LLC lifted its position in shares of PTC Therapeutics by 2.4% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 29,115 shares of the biopharmaceutical company’s stock worth $652,000 after acquiring an additional 692 shares in the last quarter. Diversified Trust Co lifted its position in shares of PTC Therapeutics by 6.7% during the fourth quarter. Diversified Trust Co now owns 14,204 shares of the biopharmaceutical company’s stock worth $391,000 after acquiring an additional 896 shares in the last quarter. Teacher Retirement System of Texas lifted its position in shares of PTC Therapeutics by 5.1% during the third quarter. Teacher Retirement System of Texas now owns 18,941 shares of the biopharmaceutical company’s stock worth $424,000 after acquiring an additional 922 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its holdings in shares of PTC Therapeutics by 99.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,941 shares of the biopharmaceutical company’s stock worth $43,000 after purchasing an additional 969 shares during the period.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Morgan Stanley raised shares of PTC Therapeutics from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $28.00 to $30.00 in a report on Monday, April 29th. Jefferies Financial Group increased their target price on shares of PTC Therapeutics from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Royal Bank of Canada increased their target price on shares of PTC Therapeutics from $22.00 to $28.00 and gave the stock a “sector perform” rating in a report on Friday, March 1st. TD Cowen lowered their price objective on shares of PTC Therapeutics from $32.00 to $30.00 and set a “market perform” rating for the company in a report on Friday, March 1st. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price objective on shares of PTC Therapeutics in a report on Friday, April 12th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $33.67.

Insiders Place Their Bets

In other PTC Therapeutics news, CEO Matthew B. Klein sold 3,361 shares of the stock in a transaction on Friday, April 19th. The stock was sold at an average price of $24.89, for a total value of $83,655.29. Following the completion of the sale, the chief executive officer now owns 225,807 shares in the company, valued at approximately $5,620,336.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders have sold 4,849 shares of company stock worth $124,107. Company insiders own 5.30% of the company’s stock.

PTC Therapeutics Trading Down 0.3 %

NASDAQ:PTCT opened at $31.05 on Friday. PTC Therapeutics, Inc. has a 12 month low of $17.53 and a 12 month high of $59.84. The company has a market cap of $2.38 billion, a PE ratio of -4.04 and a beta of 0.63. The company has a 50 day simple moving average of $29.12 and a two-hundred day simple moving average of $26.47.

PTC Therapeutics (NASDAQ:PTCT) last announced its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.20) EPS for the quarter, beating analysts’ consensus estimates of ($1.21) by $0.01. The business had revenue of $210.12 million for the quarter, compared to analysts’ expectations of $160.27 million. Research analysts forecast that PTC Therapeutics, Inc. will post -5.36 earnings per share for the current year.

PTC Therapeutics Profile

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders in the United States and internationally. The company offers Translarna and Emflaza for the treatment of Duchenne muscular dystrophy; Upstaza to treat aromatic l-amino acid decarboxylas (AADC) deficiency, a central nervous system disorder; Tegsedi and Waylivra for the treatment of rare diseases; and Evrysdi to treat spinal muscular atrophy (SMA) in adults and children.