PTC Therapeutics (PTCT) Sees Strong Trading Volume

PTC Therapeutics, Inc. (NASDAQ:PTCT) shares saw an uptick in trading volume on Monday . 3,803,334 shares were traded during mid-day trading, an increase of 186% from the previous session’s volume of 1,331,407 shares.The stock last traded at $20.24 and had previously closed at $17.93.

A number of research firms recently weighed in on PTCT. ValuEngine upgraded PTC Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Zacks Investment Research upgraded PTC Therapeutics from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Thursday, January 4th. Barclays decreased their price target on PTC Therapeutics from $22.00 to $15.00 and set an “equal weight” rating for the company in a research report on Friday, September 29th. Royal Bank of Canada reiterated a “sector perform” rating on shares of PTC Therapeutics in a research report on Friday, September 29th. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $25.00 price target on shares of PTC Therapeutics in a research report on Tuesday, September 26th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $18.25.

The firm has a market capitalization of $865.89, a PE ratio of -7.15 and a beta of 1.23. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.08 and a quick ratio of 2.97.

In other PTC Therapeutics news, CEO Stuart Walter Peltz sold 2,230 shares of the firm’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $18.03, for a total transaction of $40,206.90. Following the completion of the sale, the chief executive officer now directly owns 26,646 shares in the company, valued at approximately $480,427.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 2,719 shares of company stock valued at $48,848 over the last 90 days. Corporate insiders own 8.10% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio lifted its holdings in shares of PTC Therapeutics by 49.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 11,582 shares of the biopharmaceutical company’s stock valued at $232,000 after buying an additional 3,835 shares during the last quarter. California Public Employees Retirement System raised its stake in shares of PTC Therapeutics by 78.9% in the 3rd quarter. California Public Employees Retirement System now owns 34,878 shares of the biopharmaceutical company’s stock valued at $698,000 after acquiring an additional 15,378 shares in the last quarter. Point72 Asset Management L.P. raised its stake in shares of PTC Therapeutics by 1,587.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 400,000 shares of the biopharmaceutical company’s stock valued at $8,004,000 after acquiring an additional 376,300 shares in the last quarter. Sectoral Asset Management Inc raised its stake in shares of PTC Therapeutics by 180.8% in the 3rd quarter. Sectoral Asset Management Inc now owns 170,535 shares of the biopharmaceutical company’s stock valued at $3,412,000 after acquiring an additional 109,800 shares in the last quarter. Finally, RTW Investments LP raised its stake in shares of PTC Therapeutics by 5.8% in the 3rd quarter. RTW Investments LP now owns 3,495,143 shares of the biopharmaceutical company’s stock valued at $69,938,000 after acquiring an additional 190,929 shares in the last quarter. Institutional investors and hedge funds own 86.12% of the company’s stock.

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About PTC Therapeutics

PTC Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the discovery, development and commercialization of medicines using its expertise in ribonucleic acid (RNA) biology. Its product pipeline includes Ataluren (Translarna), PTC596 and RG7916. Its product candidate, ataluren, is an orally administered small-molecule compound for the treatment of patients with genetic disorders due to a nonsense mutation.

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