Point72 Asia Singapore Pte. Ltd. Purchases New Holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,971 shares of the biopharmaceutical company’s stock, valued at approximately $335,000.

Several other large investors have also recently bought and sold shares of PTCT. Allspring Global Investments Holdings LLC acquired a new position in PTC Therapeutics during the first quarter valued at approximately $46,000. Quest Partners LLC acquired a new position in PTC Therapeutics during the second quarter valued at approximately $128,000. Lazard Asset Management LLC lifted its position 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 valued at $188,000 after buying an additional 4,741 shares during the last quarter. Headlands Technologies LLC lifted its position in shares of PTC Therapeutics by 83.2% in the second quarter. Headlands Technologies LLC now owns 6,611 shares of the biopharmaceutical company’s stock valued at $202,000 after buying an additional 3,002 shares during the last quarter. Finally, Sanibel Captiva Trust Company Inc. acquired a new stake in shares of PTC Therapeutics in the second quarter valued at approximately $205,000.

Insiders Place Their Bets

In other PTC Therapeutics news, CFO Pierre Gravier sold 2,269 shares of the firm’s 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 transaction, the chief financial officer now owns 53,531 shares in the company, valued at approximately $1,821,124.62. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 5.50% of the company’s stock.

PTC Therapeutics Trading Up 0.3 %

Shares of NASDAQ PTCT opened at $36.64 on Thursday. The business’s 50 day moving average is $33.58 and its 200-day moving average is $32.55. PTC Therapeutics, Inc. has a 1-year low of $17.53 and a 1-year high of $40.69. The firm has a market cap of $2.82 billion, a P/E ratio of -4.77 and a beta of 0.64.

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

Analyst Ratings Changes

PTCT has been the subject of a number of recent analyst reports. Baird R W raised PTC Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 4th. Morgan Stanley raised their price objective on PTC Therapeutics from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Friday, July 12th. Bank of America raised their price objective on PTC Therapeutics from $25.00 to $32.00 and gave the company an “underperform” rating in a research report on Friday, June 21st. UBS Group initiated coverage on PTC Therapeutics in a research report on Monday, August 26th. They issued a “buy” rating and a $47.00 price objective for the company. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $53.00 price objective on shares of PTC Therapeutics in a research report on Thursday, June 20th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, PTC Therapeutics currently has an average rating of “Hold” and a consensus price target of $37.64.

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.