Arizona State Retirement System Acquires 636 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

Arizona State Retirement System raised its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 3.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,301 shares of the biopharmaceutical company’s stock after acquiring an additional 636 shares during the period. Arizona State Retirement System’s holdings in PTC Therapeutics were worth $590,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new position in PTC Therapeutics during the first quarter valued at approximately $46,000. Lazard Asset Management LLC grew its position in 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 acquiring an additional 4,741 shares during the last quarter. Sanibel Captiva Trust Company Inc. bought a new position in PTC Therapeutics during the second quarter valued at approximately $205,000. Victory Capital Management Inc. bought a new position in PTC Therapeutics during the fourth quarter valued at approximately $271,000. Finally, Los Angeles Capital Management LLC grew its position in PTC Therapeutics by 23.1% during the first quarter. Los Angeles Capital Management LLC now owns 10,800 shares of the biopharmaceutical company’s stock valued at $314,000 after acquiring an additional 2,024 shares during the last quarter.

PTC Therapeutics Stock Down 0.6 %

PTC Therapeutics stock opened at $33.77 on Tuesday. The business has a 50-day simple moving average of $33.14 and a two-hundred day simple moving average of $32.31. The company has a market cap of $2.59 billion, a P/E ratio of -4.40 and a beta of 0.64. PTC Therapeutics, Inc. has a 52-week low of $17.53 and a 52-week high of $40.69.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.16). The company had revenue of $186.70 million during the quarter, compared to the consensus estimate of $192.12 million. Research analysts anticipate that PTC Therapeutics, Inc. will post -5.09 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on PTCT shares. The Goldman Sachs Group increased their price target on shares of PTC Therapeutics from $18.00 to $32.00 and gave the company a “sell” rating in a research report on Tuesday, May 28th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $53.00 target price on shares of PTC Therapeutics in a report on Thursday, June 20th. Robert W. Baird began coverage on shares of PTC Therapeutics in a report on Wednesday, September 4th. They issued an “outperform” rating and a $44.00 price target on the stock. Morgan Stanley lifted their price target on shares of PTC Therapeutics from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, July 12th. Finally, Jefferies Financial Group lifted their price target on shares of PTC Therapeutics from $35.00 to $46.00 and gave the company a “buy” rating in a report on Monday, May 20th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $37.13.

Insider Buying and Selling

In related news, CFO Pierre Gravier sold 2,269 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $34.02, for a total value of $77,191.38. Following the transaction, the chief financial officer now directly owns 53,531 shares of the company’s stock, valued at approximately $1,821,124.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.50% of the stock is owned by insiders.

About PTC Therapeutics

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.