Arizona State Retirement System Sells 271 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

Arizona State Retirement System reduced its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 1.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,824 shares of the biopharmaceutical company’s stock after selling 271 shares during the quarter. Arizona State Retirement System’s holdings in PTC Therapeutics were worth $1,010,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in PTCT. Sterling Capital Management LLC increased its holdings in PTC Therapeutics by 424.4% in the fourth quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 522 shares in the last quarter. GAMMA Investing LLC increased its holdings in PTC Therapeutics by 86.3% in the first quarter. GAMMA Investing LLC now owns 952 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 441 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in PTC Therapeutics in the fourth quarter worth approximately $73,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in PTC Therapeutics in the fourth quarter worth approximately $77,000. Finally, Smallwood Wealth Investment Management LLC bought a new stake in PTC Therapeutics in the first quarter worth approximately $86,000.

Insider Buying and Selling at PTC Therapeutics

In other PTC Therapeutics news, CFO Pierre Gravier sold 2,516 shares of the company’s stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $49.46, for a total value of $124,441.36. Following the completion of the transaction, the chief financial officer owned 71,920 shares in the company, valued at $3,557,163.20. This represents a 3.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Mark Elliott Boulding sold 1,929 shares of the company’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $46.18, for a total value of $89,081.22. Following the completion of the transaction, the vice president owned 103,901 shares of the company’s stock, valued at $4,798,148.18. This trade represents a 1.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,132 shares of company stock worth $390,825 in the last quarter. 5.50% of the stock is currently owned by company insiders.

PTC Therapeutics Trading Down 1.9%

Shares of PTC Therapeutics stock opened at $47.63 on Monday. The stock has a fifty day simple moving average of $48.83 and a 200 day simple moving average of $48.52. PTC Therapeutics, Inc. has a 12-month low of $29.02 and a 12-month high of $58.38. The company has a market capitalization of $3.78 billion, a P/E ratio of 7.32 and a beta of 0.50.

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

Wall Street Analysts Forecast Growth

PTCT has been the subject of a number of research analyst reports. Barclays lowered their target price on PTC Therapeutics from $56.00 to $42.00 and set an “equal weight” rating for the company in a report on Thursday, May 8th. Cantor Fitzgerald decreased their price objective on PTC Therapeutics from $113.00 to $112.00 and set an “overweight” rating for the company in a report on Wednesday, May 7th. Bank of America upgraded PTC Therapeutics from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $55.00 to $68.00 in a report on Friday, May 9th. Wall Street Zen downgraded PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Friday, May 16th. Finally, Robert W. Baird decreased their price objective on PTC Therapeutics from $70.00 to $66.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $65.00.

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.