PTC Therapeutics, Inc. (NASDAQ:PTCT) Shares Bought by Rhumbline Advisers

Rhumbline Advisers grew its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 6.7% during the 2nd quarter, Holdings Channel reports. The firm owned 116,396 shares of the biopharmaceutical company’s stock after buying an additional 7,314 shares during the period. Rhumbline Advisers’ holdings in PTC Therapeutics were worth $3,559,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several research firms have issued reports on PTCT. Citigroup raised their price target on shares of PTC Therapeutics from $18.00 to $26.00 and gave the stock a “sell” rating in a research note on Tuesday, May 21st. The Goldman Sachs Group raised their target price on shares of PTC Therapeutics from $18.00 to $32.00 and gave the stock a “sell” rating in a research report on Tuesday, May 28th. Bank of America boosted their price target on PTC Therapeutics from $25.00 to $32.00 and gave the company an “underperform” rating in a report on Friday, June 21st. Robert W. Baird initiated coverage on PTC Therapeutics in a research report on Wednesday, September 4th. They issued an “outperform” rating and a $44.00 price objective for the company. Finally, Baird R W upgraded PTC Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, PTC Therapeutics currently has an average rating of “Hold” and an average price target of $37.13.

Insider Activity at PTC Therapeutics

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

PTC Therapeutics Stock Performance

PTCT opened at $35.07 on Wednesday. PTC Therapeutics, Inc. has a 1 year low of $17.53 and a 1 year high of $40.69. The firm has a 50 day moving average price of $33.21 and a 200 day moving average price of $32.33. The company has a market cap of $2.69 billion, a PE ratio of -4.57 and a beta of 0.64.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($0.16). The firm had revenue of $186.70 million for the quarter, compared to the consensus estimate of $192.12 million. On average, sell-side analysts predict that PTC Therapeutics, Inc. will post -5.09 earnings per share 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.