CM Management LLC boosted its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 20.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,000 shares of the biopharmaceutical company’s stock after purchasing an additional 5,000 shares during the quarter. CM Management LLC’s holdings in PTC Therapeutics were worth $1,268,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in PTC Therapeutics by 3.0% in the first quarter. BlackRock Inc. now owns 6,210,207 shares of the biopharmaceutical company’s stock worth $294,053,000 after purchasing an additional 182,088 shares during the period. RTW Investments LP boosted its holdings in PTC Therapeutics by 25.4% in the first quarter. RTW Investments LP now owns 5,293,966 shares of the biopharmaceutical company’s stock worth $250,669,000 after purchasing an additional 1,072,130 shares during the period. Janus Henderson Group PLC boosted its holdings in PTC Therapeutics by 2.4% in the first quarter. Janus Henderson Group PLC now owns 3,069,140 shares of the biopharmaceutical company’s stock worth $145,324,000 after purchasing an additional 72,719 shares during the period. Armistice Capital LLC boosted its holdings in shares of PTC Therapeutics by 95.0% during the first quarter. Armistice Capital LLC now owns 1,396,000 shares of the biopharmaceutical company’s stock valued at $66,101,000 after acquiring an additional 680,000 shares during the period. Finally, TimesSquare Capital Management LLC boosted its holdings in shares of PTC Therapeutics by 11.2% during the second quarter. TimesSquare Capital Management LLC now owns 1,153,785 shares of the biopharmaceutical company’s stock valued at $48,770,000 after acquiring an additional 116,315 shares during the period.
PTCT has been the subject of several analyst reports. Credit Suisse Group reduced their price target on shares of PTC Therapeutics from $54.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, July 30th. UBS Group reduced their price target on shares of PTC Therapeutics from $55.00 to $45.00 and set a “neutral” rating for the company in a report on Tuesday, August 31st. Finally, William Blair reissued a “buy” rating on shares of PTC Therapeutics in a report on Thursday, June 3rd. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, PTC Therapeutics has an average rating of “Buy” and a consensus price target of $62.50.
PTCT stock traded up $0.06 during trading on Thursday, hitting $40.62. The company had a trading volume of 8,179 shares, compared to its average volume of 499,716. The company has a current ratio of 3.66, a quick ratio of 3.61 and a debt-to-equity ratio of 5.67. The business has a 50 day moving average of $41.13 and a 200 day moving average of $44.23. PTC Therapeutics, Inc. has a fifty-two week low of $36.38 and a fifty-two week high of $70.82. The firm has a market capitalization of $2.87 billion, a price-to-earnings ratio of -7.17 and a beta of 1.07.
PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Thursday, July 29th. The biopharmaceutical company reported ($1.68) EPS for the quarter, topping the consensus estimate of ($1.84) by $0.16. PTC Therapeutics had a negative net margin of 82.87% and a negative return on equity of 105.54%. As a group, equities analysts predict that PTC Therapeutics, Inc. will post -7.07 EPS for the current year.
About PTC Therapeutics
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.
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