PTC Therapeutics, Inc. (NASDAQ:PTCT) Holdings Decreased by Teacher Retirement System of Texas

Teacher Retirement System of Texas trimmed its position in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 8.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,681 shares of the biopharmaceutical company’s stock after selling 1,830 shares during the quarter. Teacher Retirement System of Texas’ holdings in PTC Therapeutics were worth $952,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC bought a new position in PTC Therapeutics during the 1st quarter worth $595,000. Allspring Global Investments Holdings LLC bought a new position in PTC Therapeutics during the 1st quarter worth $524,000. Raymond James Financial Inc. bought a new position in PTC Therapeutics during the 4th quarter worth $2,200,000. Natixis Advisors LLC bought a new position in PTC Therapeutics during the 4th quarter worth $544,000. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in PTC Therapeutics by 49.2% during the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 46,894 shares of the biopharmaceutical company’s stock worth $2,117,000 after buying an additional 15,459 shares during the last quarter.

Analyst Ratings Changes

PTCT has been the subject of several recent analyst reports. Robert W. Baird decreased their price target on PTC Therapeutics from $70.00 to $66.00 and set an “outperform” rating for the company in a research note on Wednesday, May 7th. Wall Street Zen cut PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 16th. JPMorgan Chase & Co. decreased their price target on PTC Therapeutics from $75.00 to $67.00 and set an “overweight” rating for the company in a research note on Wednesday, May 7th. Royal Bank Of Canada increased their price target on PTC Therapeutics from $57.00 to $58.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 7th. Finally, Cantor Fitzgerald decreased their price target on PTC Therapeutics from $113.00 to $112.00 and set an “overweight” rating for the company in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

PTC Therapeutics Stock Up 1.9%

Shares of PTC Therapeutics stock opened at $49.46 on Tuesday. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of 7.60 and a beta of 0.50. The business has a fifty day simple moving average of $48.09 and a 200-day simple moving average of $48.42. PTC Therapeutics, Inc. has a fifty-two week low of $29.02 and a fifty-two week high of $58.38.

PTC Therapeutics (NASDAQ:PTCT) last announced its earnings results on Tuesday, May 6th. The biopharmaceutical company reported $10.04 EPS for the quarter, beating the consensus estimate of $0.85 by $9.19. PTC Therapeutics had a negative return on equity of 78.56% and a net margin of 33.56%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $437.16 million. During the same period in the prior year, the business posted ($1.20) earnings per share. PTC Therapeutics’s revenue was down 9.6% compared to the same quarter last year. Analysts anticipate that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

Insider Buying and Selling at PTC Therapeutics

In other news, VP Mark Elliott Boulding sold 883 shares of the company’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $46.02, for a total transaction of $40,635.66. Following the completion of the sale, the vice president directly owned 103,901 shares of the company’s stock, valued at $4,781,524.02. This represents a 0.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Matthew B. Klein sold 2,804 shares of the company’s stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $48.74, for a total value of $136,666.96. Following the sale, the chief executive officer directly owned 273,234 shares of the company’s stock, valued at approximately $13,317,425.16. This represents a 1.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,616 shares of company stock valued at $266,384. 5.50% of the stock is currently owned by company insiders.

PTC Therapeutics Company 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.