Axa Boosts Position in PTC Therapeutics, Inc. (PTCT)
Axa increased its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 1,439.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 161,600 shares of the biopharmaceutical company’s stock after acquiring an additional 151,100 shares during the period. Axa owned about 0.47% of PTC Therapeutics worth $2,962,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Oppenheimer & Co. Inc. lifted its stake in PTC Therapeutics by 75.1% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 42,593 shares of the biopharmaceutical company’s stock worth $781,000 after acquiring an additional 18,273 shares in the last quarter. Swiss National Bank lifted its stake in PTC Therapeutics by 13.0% during the 2nd quarter. Swiss National Bank now owns 56,565 shares of the biopharmaceutical company’s stock worth $1,037,000 after acquiring an additional 6,500 shares in the last quarter. Chicago Equity Partners LLC lifted its stake in PTC Therapeutics by 9.2% during the 2nd quarter. Chicago Equity Partners LLC now owns 62,290 shares of the biopharmaceutical company’s stock worth $1,142,000 after acquiring an additional 5,270 shares in the last quarter. Prudential Financial Inc. acquired a new position in PTC Therapeutics during the 2nd quarter worth about $201,000. Finally, Alps Advisors Inc. lifted its stake in PTC Therapeutics by 5.6% during the 2nd quarter. Alps Advisors Inc. now owns 31,191 shares of the biopharmaceutical company’s stock worth $572,000 after acquiring an additional 1,667 shares in the last quarter. 81.30% of the stock is currently owned by hedge funds and other institutional investors.
Shares of PTC Therapeutics, Inc. (PTCT) opened at 20.41 on Tuesday. PTC Therapeutics, Inc. has a 52-week low of $4.03 and a 52-week high of $22.00. The firm has a 50-day moving average price of $19.54 and a 200-day moving average price of $15.28. The firm’s market cap is $843.01 million.
PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.44) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.89) by $0.45. The company had revenue of $47.96 million for the quarter, compared to analysts’ expectations of $28.78 million. PTC Therapeutics had a negative return on equity of 81.84% and a negative net margin of 88.43%. The firm’s quarterly revenue was up 206.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.14) earnings per share. Analysts predict that PTC Therapeutics, Inc. will post ($2.35) EPS for the current fiscal year.
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Several research firms recently issued reports on PTCT. BidaskClub lowered PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, August 17th. William Blair began coverage on PTC Therapeutics in a research note on Wednesday, August 23rd. They set a “market perform” rating and a $17.00 target price on the stock. Citigroup Inc. set a $18.00 target price on PTC Therapeutics and gave the stock a “buy” rating in a research note on Wednesday, June 7th. Barclays PLC reissued a “hold” rating and set a $22.00 target price on shares of PTC Therapeutics in a research note on Friday, September 8th. Finally, Zacks Investment Research raised PTC Therapeutics from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research note on Wednesday, August 30th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. PTC Therapeutics has a consensus rating of “Hold” and a consensus price target of $17.10.
About PTC Therapeutics
PTC Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the discovery, development and commercialization of medicines using its expertise in ribonucleic acid (RNA) biology. Its product pipeline includes Ataluren (Translarna), PTC596 and RG7916. Its product candidate, ataluren, is an orally administered small-molecule compound for the treatment of patients with genetic disorders due to a nonsense mutation.
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