Edgestream Partners L.P. Grows Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Edgestream Partners L.P. boosted its position in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 49.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,522 shares of the biopharmaceutical company’s stock after purchasing an additional 17,681 shares during the period. Edgestream Partners L.P. owned about 0.07% of PTC Therapeutics worth $1,557,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hexagon Capital Partners LLC grew its position in PTC Therapeutics by 132.0% during the fourth quarter. Hexagon Capital Partners LLC now owns 979 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 557 shares during the period. ProShare Advisors LLC lifted its stake in shares of PTC Therapeutics by 9.3% in the 1st quarter. ProShare Advisors LLC now owns 18,313 shares of the biopharmaceutical company’s stock valued at $533,000 after purchasing an additional 1,564 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of PTC Therapeutics during the 1st quarter worth about $46,000. State Board of Administration of Florida Retirement System increased its position in PTC Therapeutics by 9.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 22,101 shares of the biopharmaceutical company’s stock worth $643,000 after purchasing an additional 1,890 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its position in PTC Therapeutics by 23.1% during the 1st quarter. Los Angeles Capital Management LLC now owns 10,800 shares of the biopharmaceutical company’s stock worth $314,000 after purchasing an additional 2,024 shares in the last quarter.

Analyst Ratings Changes

PTCT has been the subject of several research reports. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $53.00 price objective on shares of PTC Therapeutics in a research note on Thursday, June 20th. Citigroup raised their price objective on PTC Therapeutics from $18.00 to $26.00 and gave the company a “sell” rating in a research report on Tuesday, May 21st. Morgan Stanley upped their target price on PTC Therapeutics from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, July 12th. Bank of America upped their price target on PTC Therapeutics from $25.00 to $32.00 and gave the stock an “underperform” rating in a report on Friday, June 21st. Finally, Jefferies Financial Group boosted their price objective on shares of PTC Therapeutics from $35.00 to $46.00 and gave the stock a “buy” rating in a report on Monday, May 20th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, PTC Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $36.64.

Insider Buying and Selling

In other PTC Therapeutics news, Director Jerome B. Zeldis sold 20,000 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $38.24, for a total value of $764,800.00. Following the completion of the sale, the director now directly owns 14,500 shares of the company’s stock, valued at approximately $554,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other PTC Therapeutics news, Director Jerome B. Zeldis sold 20,000 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $38.24, for a total value of $764,800.00. Following the transaction, the director now owns 14,500 shares of the company’s stock, valued at $554,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Pierre Gravier sold 2,269 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $34.02, for a total value of $77,191.38. Following the sale, the chief financial officer now directly owns 53,531 shares of the company’s stock, valued at $1,821,124.62. The disclosure for this sale can be found here. Insiders have sold a total of 22,444 shares of company stock valued at $847,735 over the last three months. Company insiders own 5.50% of the company’s stock.

PTC Therapeutics Trading Up 1.2 %

NASDAQ:PTCT traded up $0.40 during midday trading on Monday, hitting $33.03. 501,682 shares of the stock were exchanged, compared to its average volume of 953,670. The company has a market capitalization of $2.53 billion, a price-to-earnings ratio of -4.24 and a beta of 0.65. PTC Therapeutics, Inc. has a one year low of $17.53 and a one year high of $42.14. The business has a 50-day moving average price of $34.79 and a two-hundred day moving average price of $30.51.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.21) by $0.01. The firm had revenue of $210.12 million for the quarter, compared to analyst estimates of $160.27 million. Sell-side analysts forecast that PTC Therapeutics, Inc. will post -4.87 EPS for the current fiscal year.

About PTC Therapeutics

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.