4,188 Shares in PTC Therapeutics, Inc. (NASDAQ:PTCT) Acquired by Quest Partners LLC

Quest Partners LLC acquired a new stake in PTC Therapeutics, Inc. (NASDAQ:PTCT) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 4,188 shares of the biopharmaceutical company’s stock, valued at approximately $128,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new position in shares of PTC Therapeutics in the 1st quarter worth $46,000. Lazard Asset Management LLC grew its holdings in shares of PTC Therapeutics by 268.9% during the first quarter. Lazard Asset Management LLC now owns 6,504 shares of the biopharmaceutical company’s stock valued at $188,000 after buying an additional 4,741 shares during the last quarter. Sanibel Captiva Trust Company Inc. acquired a new position in shares of PTC Therapeutics during the second quarter valued at about $205,000. Victory Capital Management Inc. bought a new stake in shares of PTC Therapeutics during the fourth quarter worth about $271,000. Finally, Los Angeles Capital Management LLC raised its holdings in shares of PTC Therapeutics by 23.1% in the 1st quarter. Los Angeles Capital Management LLC now owns 10,800 shares of the biopharmaceutical company’s stock worth $314,000 after acquiring an additional 2,024 shares during the last quarter.

Insider Buying and Selling

In other PTC Therapeutics news, CFO Pierre Gravier sold 2,269 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $34.02, for a total transaction of $77,191.38. Following the sale, the chief financial officer now owns 53,531 shares in the company, valued at $1,821,124.62. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PTCT shares. UBS Group started coverage on PTC Therapeutics in a research note on Monday, August 26th. They set a “buy” rating and a $47.00 price target for the company. Baird R W raised PTC Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 4th. Jefferies Financial Group lifted their price objective on shares of PTC Therapeutics from $35.00 to $46.00 and gave the stock a “buy” rating in a report on Monday, May 20th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $64.00 target price on shares of PTC Therapeutics in a research note on Wednesday, August 21st. Finally, Bank of America raised their price target on shares of PTC Therapeutics from $25.00 to $32.00 and gave the company an “underperform” rating in a research report on Friday, June 21st. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $37.13.

PTC Therapeutics Stock Performance

PTCT stock opened at $33.77 on Tuesday. The stock has a fifty day moving average of $33.14 and a 200-day moving average of $32.31. PTC Therapeutics, Inc. has a fifty-two week low of $17.53 and a fifty-two week high of $40.69. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of -4.40 and a beta of 0.64.

PTC Therapeutics (NASDAQ:PTCT) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.16). The business had revenue of $186.70 million for the quarter, compared to analysts’ expectations of $192.12 million. Equities analysts predict that PTC Therapeutics, Inc. will post -5.09 EPS for the current year.

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.