Marshall Wace LLP Purchases 157,460 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

Marshall Wace LLP boosted its position in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 708.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 179,679 shares of the biopharmaceutical company’s stock after purchasing an additional 157,460 shares during the period. Marshall Wace LLP’s holdings in PTC Therapeutics were worth $5,495,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Choreo LLC raised its stake in shares of PTC Therapeutics by 4.1% during the 2nd quarter. Choreo LLC now owns 11,426 shares of the biopharmaceutical company’s stock worth $356,000 after buying an additional 452 shares during the period. Arizona State Retirement System raised its stake in PTC Therapeutics by 3.4% in the 2nd quarter. Arizona State Retirement System now owns 19,301 shares of the biopharmaceutical company’s stock valued at $590,000 after purchasing an additional 636 shares during the last quarter. Diversified Trust Co raised its stake in PTC Therapeutics by 5.6% in the 2nd quarter. Diversified Trust Co now owns 15,317 shares of the biopharmaceutical company’s stock valued at $468,000 after purchasing an additional 818 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of PTC Therapeutics by 9.3% in the 1st quarter. ProShare Advisors LLC now owns 18,313 shares of the biopharmaceutical company’s stock worth $533,000 after acquiring an additional 1,564 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of PTC Therapeutics in the 1st quarter worth $46,000.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PTCT. Baird R W raised PTC Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. UBS Group initiated coverage on PTC Therapeutics in a report on Monday, August 26th. They set a “buy” rating and a $47.00 price target for the company. Robert W. Baird initiated coverage on PTC Therapeutics in a report on Wednesday, September 4th. They set an “outperform” rating and a $44.00 price target for the company. Bank of America increased their price target on PTC Therapeutics from $25.00 to $32.00 and gave the stock an “underperform” rating in a report on Friday, June 21st. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $64.00 target price on shares of PTC Therapeutics in a report on Tuesday, September 17th. Three 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. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $37.64.

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 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 directly 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 can be accessed through the SEC website. Company insiders own 5.50% of the company’s stock.

PTC Therapeutics Trading Down 2.8 %

Shares of PTCT stock opened at $36.05 on Wednesday. The business’s 50 day moving average is $33.86 and its two-hundred day moving average is $32.71. PTC Therapeutics, Inc. has a twelve month low of $17.53 and a twelve month high of $40.69. The company has a market capitalization of $2.76 billion, a P/E ratio of -4.69 and a beta of 0.64.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly 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 company had revenue of $186.70 million during the quarter, compared to analysts’ expectations of $192.12 million. As a group, equities analysts predict that PTC Therapeutics, Inc. will post -5.09 earnings per share for the current fiscal 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.