Russell Investments Group Ltd. Grows Stock Holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Russell Investments Group Ltd. lifted its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 24.1% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 221,390 shares of the biopharmaceutical company’s stock after buying an additional 43,000 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.31% of PTC Therapeutics worth $8,237,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Berman Capital Advisors LLC increased its holdings in PTC Therapeutics by 66.3% in the 3rd quarter. Berman Capital Advisors LLC now owns 795 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 317 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in PTC Therapeutics by 33.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,385 shares of the biopharmaceutical company’s stock valued at $143,000 after acquiring an additional 850 shares during the last quarter. Vident Investment Advisory LLC bought a new stake in PTC Therapeutics in the 2nd quarter valued at $206,000. Raymond James & Associates increased its holdings in PTC Therapeutics by 4.6% in the 3rd quarter. Raymond James & Associates now owns 7,125 shares of the biopharmaceutical company’s stock valued at $265,000 after acquiring an additional 311 shares during the last quarter. Finally, US Bancorp DE increased its holdings in PTC Therapeutics by 9.7% in the 2nd quarter. US Bancorp DE now owns 6,657 shares of the biopharmaceutical company’s stock valued at $281,000 after acquiring an additional 588 shares during the last quarter.

In other news, insider Neil Gregory Almstead sold 756 shares of the company’s stock in a transaction that occurred on Friday, January 7th. The shares were sold at an average price of $38.52, for a total value of $29,121.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Mark Elliott Boulding sold 885 shares of the company’s stock in a transaction that occurred on Friday, January 7th. The stock was sold at an average price of $38.52, for a total transaction of $34,090.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,803 shares of company stock valued at $148,115. 5.00% of the stock is owned by corporate insiders.

A number of research firms have recently weighed in on PTCT. Bank of America downgraded shares of PTC Therapeutics from a “neutral” rating to an “underperform” rating and set a $38.00 target price on the stock. in a report on Monday, October 18th. Royal Bank of Canada reduced their target price on shares of PTC Therapeutics from $45.00 to $42.00 and set a “sector perform” rating on the stock in a report on Friday, October 29th. Credit Suisse Group reduced their target price on shares of PTC Therapeutics from $50.00 to $48.00 and set a “neutral” rating on the stock in a report on Friday, October 29th. Zacks Investment Research upgraded shares of PTC Therapeutics from a “sell” rating to a “hold” rating and set a $46.00 target price on the stock in a report on Tuesday. Finally, Raymond James reduced their target price on shares of PTC Therapeutics from $70.00 to $55.00 and set an “outperform” rating on the stock in a report on Friday, October 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $53.22.

PTC Therapeutics stock opened at $43.75 on Friday. The stock has a market cap of $3.09 billion, a price-to-earnings ratio of -6.75 and a beta of 0.90. The company has a debt-to-equity ratio of 9.27, a current ratio of 2.17 and a quick ratio of 2.14. PTC Therapeutics, Inc. has a 1 year low of $34.85 and a 1 year high of $69.48. The firm has a 50-day moving average of $39.28 and a two-hundred day moving average of $39.90.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings data on Thursday, October 28th. The biopharmaceutical company reported ($1.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.78) by ($0.11). The company had revenue of $139.00 million during the quarter, compared to analysts’ expectations of $118.87 million. PTC Therapeutics had a negative net margin of 92.43% and a negative return on equity of 169.13%. PTC Therapeutics’s quarterly revenue was up 68.1% on a year-over-year basis. During the same period last year, the firm earned ($1.03) earnings per share. Research analysts expect that PTC Therapeutics, Inc. will post -7.3 earnings per share for the current year.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc is a biopharmaceutical company, which engages in the discovery and commercialization of clinically differentiated medicines. It focuses on the development of new treatments for multiple therapeutic areas, including rare diseases and oncology. The firm’s portfolio includes Translarna, Emflaza, Tegsedi, Waylivra, and Evrysdi.

Featured Story: Cost of Capital Explained

Want to see what other hedge funds are holding PTCT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PTC Therapeutics, Inc. (NASDAQ:PTCT).

Institutional Ownership by Quarter for PTC Therapeutics (NASDAQ:PTCT)

Receive News & Ratings for PTC Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PTC Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.