Rockefeller Capital Management L.P. lessened its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 43.9% in the first quarter, HoldingsChannel.com reports. The firm owned 3,540 shares of the biopharmaceutical company’s stock after selling 2,767 shares during the period. Rockefeller Capital Management L.P.’s holdings in PTC Therapeutics were worth $133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in the business. NumerixS Investment Technologies Inc bought a new position in PTC Therapeutics in the fourth quarter worth approximately $32,000. Canton Hathaway LLC grew its stake in PTC Therapeutics by 57.1% in the fourth quarter. Canton Hathaway LLC now owns 1,100 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 400 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in PTC Therapeutics by 34.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,732 shares of the biopharmaceutical company’s stock worth $94,000 after purchasing an additional 696 shares in the last quarter. US Bancorp DE boosted its position in PTC Therapeutics by 9.3% during the 1st quarter. US Bancorp DE now owns 3,115 shares of the biopharmaceutical company’s stock valued at $117,000 after acquiring an additional 264 shares in the last quarter. Finally, Smith Asset Management Group LP bought a new stake in PTC Therapeutics during the 4th quarter valued at $184,000.
Several brokerages have issued reports on PTCT. ValuEngine raised PTC Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 10th. Zacks Investment Research raised PTC Therapeutics from a “hold” rating to a “strong-buy” rating and set a $44.00 target price on the stock in a research report on Wednesday, May 1st. Cowen reaffirmed a “hold” rating on shares of PTC Therapeutics in a research report on Thursday, May 2nd. Cantor Fitzgerald reaffirmed a “buy” rating and set a $61.00 target price on shares of PTC Therapeutics in a research report on Thursday, February 28th. Finally, Sanford C. Bernstein began coverage on PTC Therapeutics in a research report on Thursday, April 11th. They set an “outperform” rating and a $48.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $49.89.
PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($1.29) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.55). PTC Therapeutics had a negative net margin of 68.99% and a negative return on equity of 32.42%. The business had revenue of $53.58 million for the quarter, compared to analysts’ expectations of $70.38 million. During the same quarter in the prior year, the company posted ($0.46) EPS. The business’s revenue for the quarter was down 4.4% on a year-over-year basis. Analysts forecast that PTC Therapeutics, Inc. will post -2.54 earnings per share for the current year.
In other news, COO Marcio Souza sold 5,490 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $40.38, for a total transaction of $221,686.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 7.00% of the company’s stock.
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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.
Read More: Price to Earnings Ratio (PE) Basics
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