UBS Asset Management Americas Inc. decreased its position in PTC Therapeutics Inc. (NASDAQ:PTCT) by 3.3% during the second quarter, Holdings Channel reports. The firm owned 615,531 shares of the biopharmaceutical company’s stock after selling 20,769 shares during the period. UBS Asset Management Americas Inc. owned 1.81% of PTC Therapeutics worth $4,321,000 as of its most recent filing with the SEC.
Other hedge funds have also recently made changes to their positions in the company. State Board of Administration of Florida Retirement System raised its stake in shares of PTC Therapeutics by 2.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 20,974 shares of the biopharmaceutical company’s stock worth $147,000 after buying an additional 436 shares during the period. Commerzbank Aktiengesellschaft FI purchased a new stake in shares of PTC Therapeutics during the second quarter worth about $158,000. Bank of Montreal Can purchased a new stake in shares of PTC Therapeutics during the second quarter worth about $190,000. Emerald Acquisition Ltd. purchased a new stake in shares of PTC Therapeutics during the second quarter worth about $209,000. Finally, Bellevue Group AG purchased a new stake in shares of PTC Therapeutics during the first quarter worth about $225,000. Hedge funds and other institutional investors own 83.32% of the company’s stock.
PTC Therapeutics Inc. (NASDAQ:PTCT) traded up 19.3867% during midday trading on Friday, reaching $13.8011. 4,305,535 shares of the company traded hands. The firm has a 50 day moving average of $8.95 and a 200-day moving average of $7.52. The stock’s market capitalization is $470.38 million. PTC Therapeutics Inc. has a 12 month low of $5.27 and a 12 month high of $35.76.
PTC Therapeutics (NASDAQ:PTCT) last posted its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.14) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.27) by $0.13. PTC Therapeutics had a negative net margin of 305.62% and a negative return on equity of 80.50%. The business had revenue of $15.40 million for the quarter, compared to analyst estimates of $15.24 million. During the same quarter in the prior year, the firm earned ($1.14) EPS. The firm’s quarterly revenue was up 150.0% compared to the same quarter last year. Analysts forecast that PTC Therapeutics Inc. will post ($4.95) EPS for the current fiscal year.
A number of analysts recently issued reports on PTCT shares. Citigroup Inc. restated a “buy” rating and set a $48.00 target price on shares of PTC Therapeutics in a research report on Tuesday, August 2nd. Zacks Investment Research upgraded shares of PTC Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, July 26th. Credit Suisse Group AG set a $6.00 target price on shares of PTC Therapeutics and gave the stock a “hold” rating in a research report on Friday, August 5th. Cowen and Company reiterated a “hold” rating on shares of PTC Therapeutics in a report on Sunday, August 7th. Finally, Jefferies Group reiterated a “hold” rating and issued a $7.00 price target on shares of PTC Therapeutics in a report on Thursday, September 22nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. PTC Therapeutics has an average rating of “Hold” and a consensus price target of $34.63.
PTC Therapeutics Company Profile
PTC Therapeutics, Inc is a biopharmaceutical company focused on the discovery, development and commercialization of orally administered, small molecule therapeutics that focus on post-transcriptional control processes. The Company’s lead product, Translarna (ataluren), is used for the treatment of nonsense mutation Duchenne muscular dystrophy (nmDMD) in ambulatory patients with age of over five years and older.
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