Pinnacle Associates Ltd. Has $6.90 Million Holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT)


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Pinnacle Associates Ltd. lessened its stake in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 6.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 113,015 shares of the biopharmaceutical company’s stock after selling 7,611 shares during the quarter. Pinnacle Associates Ltd.’s holdings in PTC Therapeutics were worth $6,897,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Harbor Investment Advisory LLC increased its stake in PTC Therapeutics by 124.5% in the 3rd quarter. Harbor Investment Advisory LLC now owns 559 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 310 shares during the period. Pacer Advisors Inc. bought a new stake in shares of PTC Therapeutics during the 3rd quarter worth $100,000. Nisa Investment Advisors LLC boosted its holdings in shares of PTC Therapeutics by 340.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,135 shares of the biopharmaceutical company’s stock worth $100,000 after buying an additional 1,650 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of PTC Therapeutics by 86.3% during the 3rd quarter. Advisors Asset Management Inc. now owns 3,389 shares of the biopharmaceutical company’s stock worth $158,000 after buying an additional 1,570 shares during the period. Finally, Exane Derivatives boosted its holdings in shares of PTC Therapeutics by 112.4% during the 3rd quarter. Exane Derivatives now owns 3,591 shares of the biopharmaceutical company’s stock worth $168,000 after buying an additional 1,900 shares during the period.

Shares of NASDAQ:PTCT opened at $61.18 on Wednesday. PTC Therapeutics, Inc. has a 12 month low of $30.79 and a 12 month high of $70.82. The company’s 50-day moving average price is $65.16 and its two-hundred day moving average price is $55.61. The company has a quick ratio of 4.83, a current ratio of 4.90 and a debt-to-equity ratio of 1.89. The firm has a market cap of $4.17 billion, a P/E ratio of -8.75 and a beta of 1.22.

PTC Therapeutics (NASDAQ:PTCT) last issued its earnings results on Thursday, October 29th. The biopharmaceutical company reported ($1.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.10) by $0.07. The company had revenue of $82.71 million for the quarter, compared to analyst estimates of $112.21 million. PTC Therapeutics had a negative net margin of 123.19% and a negative return on equity of 76.10%. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter last year, the firm earned ($1.06) EPS. As a group, equities analysts predict that PTC Therapeutics, Inc. will post -6.26 earnings per share for the current fiscal year.

PTCT has been the subject of several recent analyst reports. Zacks Investment Research downgraded shares of PTC Therapeutics from a “hold” rating to a “strong sell” rating in a report on Thursday, January 14th. Raymond James upped their target price on shares of PTC Therapeutics from $63.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, December 16th. Smith Barney Citigroup upgraded shares of PTC Therapeutics from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 5th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded shares of PTC Therapeutics from a “neutral” rating to a “buy” rating and upped their target price for the company from $67.00 to $85.00 in a research note on Tuesday, January 5th. Finally, UBS Group initiated coverage on shares of PTC Therapeutics in a research note on Wednesday, October 28th. They set a “neutral” rating and a $55.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $63.08.

In related news, CAO Christine Marie Utter sold 31,758 shares of PTC Therapeutics stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $60.06, for a total transaction of $1,907,385.48. Following the transaction, the chief accounting officer now owns 11,129 shares of the company’s stock, valued at approximately $668,407.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Stuart Walter Peltz sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $53.66, for a total transaction of $2,683,000.00. Following the sale, the chief executive officer now owns 106,085 shares in the company, valued at $5,692,521.10. The disclosure for this sale can be found here. Insiders sold a total of 810,203 shares of company stock worth $49,459,622 in the last ninety days. Insiders own 7.00% of the company’s stock.

About PTC Therapeutics

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines for the treatment of rare disorders. The company offers Translarna (ataluren) and Emflaza (deflazacort) for the treatment of nonsense mutation Duchenne muscular dystrophy in ambulatory patients.

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

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