Teachers Retirement System of The State of Kentucky grew its stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 2.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 130,488 shares of the biopharmaceutical company’s stock after buying an additional 3,702 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in PTC Therapeutics were worth $7,963,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in PTCT. Janus Henderson Group PLC boosted its holdings in shares of PTC Therapeutics by 48.4% during the 4th quarter. Janus Henderson Group PLC now owns 2,996,421 shares of the biopharmaceutical company’s stock valued at $182,875,000 after acquiring an additional 977,858 shares during the last quarter. Norges Bank bought a new position in shares of PTC Therapeutics in the 4th quarter worth approximately $33,828,000. BlackRock Inc. lifted its stake in shares of PTC Therapeutics by 5.0% in the 4th quarter. BlackRock Inc. now owns 6,028,119 shares of the biopharmaceutical company’s stock worth $367,897,000 after purchasing an additional 285,694 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of PTC Therapeutics in the 4th quarter worth approximately $13,561,000. Finally, Redwood Investments LLC lifted its stake in shares of PTC Therapeutics by 61.9% in the 4th quarter. Redwood Investments LLC now owns 364,837 shares of the biopharmaceutical company’s stock worth $22,266,000 after purchasing an additional 139,482 shares during the period.
In other news, Director Dawn Svoronos sold 506 shares of PTC Therapeutics stock in a transaction that occurred on Monday, February 1st. The shares were sold at an average price of $56.96, for a total transaction of $28,821.76. Following the sale, the director now owns 27,430 shares in the company, valued at $1,562,412.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Emily Luisa Hill sold 26,033 shares of the firm’s stock in a transaction on Friday, January 8th. The shares were sold at an average price of $69.75, for a total transaction of $1,815,801.75. Following the completion of the transaction, the chief financial officer now directly owns 26,552 shares of the company’s stock, valued at $1,852,002. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,001 shares of company stock worth $2,499,228. Company insiders own 7.00% of the company’s stock.
PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings data on Thursday, February 25th. The biopharmaceutical company reported ($1.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.90) by ($0.18). The company had revenue of $118.86 million for the quarter, compared to the consensus estimate of $113.47 million. PTC Therapeutics had a negative net margin of 123.19% and a negative return on equity of 76.10%. As a group, equities analysts expect that PTC Therapeutics, Inc. will post -6.26 EPS for the current year.
PTCT has been the topic of several recent research reports. Raymond James increased their price objective on shares of PTC Therapeutics from $63.00 to $70.00 and gave the stock 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. Royal Bank of Canada upgraded shares of PTC Therapeutics from an “underperform” rating to a “sector perform” rating and set a $47.00 price objective on the stock in a research note on Monday, March 29th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of PTC Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, March 17th. Finally, Bank of America cut shares of PTC Therapeutics from a “buy” rating to a “neutral” rating in a research note on Friday, February 12th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $65.09.
PTC Therapeutics Profile
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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