Panagora Asset Management Inc. Reduces Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Panagora Asset Management Inc. reduced its stake in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 0.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 302,955 shares of the biopharmaceutical company’s stock after selling 1,430 shares during the quarter. Panagora Asset Management Inc. owned about 0.40% of PTC Therapeutics worth $8,349,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Hexagon Capital Partners LLC raised its stake in PTC Therapeutics by 132.0% in the 4th quarter. Hexagon Capital Partners LLC now owns 979 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 557 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of PTC Therapeutics by 317.0% during the third quarter. Nisa Investment Advisors LLC now owns 2,656 shares of the biopharmaceutical company’s stock worth $60,000 after buying an additional 2,019 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of PTC Therapeutics by 12.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,075 shares of the biopharmaceutical company’s stock valued at $114,000 after buying an additional 559 shares during the last quarter. Headlands Technologies LLC lifted its stake in shares of PTC Therapeutics by 248.0% during the fourth quarter. Headlands Technologies LLC now owns 4,684 shares of the biopharmaceutical company’s stock valued at $129,000 after buying an additional 3,338 shares during the period. Finally, China Universal Asset Management Co. Ltd. boosted its position in PTC Therapeutics by 349.6% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,727 shares of the biopharmaceutical company’s stock worth $241,000 after acquiring an additional 6,786 shares during the last quarter.

Analysts Set New Price Targets

PTCT has been the topic of a number of recent analyst reports. Morgan Stanley raised PTC Therapeutics from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $28.00 to $30.00 in a research note on Monday, April 29th. Royal Bank of Canada raised their price target on PTC Therapeutics from $22.00 to $28.00 and gave the stock a “sector perform” rating in a research note on Friday, March 1st. Jefferies Financial Group upped their price objective on shares of PTC Therapeutics from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 target price on shares of PTC Therapeutics in a research report on Friday, April 12th. Finally, TD Cowen dropped their price target on shares of PTC Therapeutics from $32.00 to $30.00 and set a “market perform” rating for the company in a research report on Friday, March 1st. Four analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $33.67.

PTC Therapeutics Trading Down 2.7 %

Shares of NASDAQ PTCT opened at $33.10 on Friday. The stock has a fifty day moving average price of $29.26 and a 200 day moving average price of $26.83. PTC Therapeutics, Inc. has a 12-month low of $17.53 and a 12-month high of $59.84.

PTC Therapeutics (NASDAQ:PTCT) last posted its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.21) by $0.01. The company had revenue of $210.12 million during the quarter, compared to analyst estimates of $160.27 million. On average, equities analysts expect that PTC Therapeutics, Inc. will post -5.36 earnings per share for the current fiscal year.

Insider Transactions at PTC Therapeutics

In other PTC Therapeutics news, CEO Matthew B. Klein sold 3,361 shares of the company’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $24.89, for a total value of $83,655.29. Following the completion of the transaction, the chief executive officer now directly owns 225,807 shares of the company’s stock, valued at approximately $5,620,336.23. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last three months, insiders have sold 4,849 shares of company stock valued at $124,107. Corporate insiders own 5.30% of the company’s stock.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders in the United States and internationally. The company offers Translarna and Emflaza for the treatment of Duchenne muscular dystrophy; Upstaza to treat aromatic l-amino acid decarboxylas (AADC) deficiency, a central nervous system disorder; Tegsedi and Waylivra for the treatment of rare diseases; and Evrysdi to treat spinal muscular atrophy (SMA) in adults and children.