Oregon Public Employees Retirement Fund Buys Shares of 18,322 PTC Therapeutics, Inc. $PTCT

Oregon Public Employees Retirement Fund bought a new stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 18,322 shares of the biopharmaceutical company’s stock, valued at approximately $1,392,000.

Several other hedge funds have also made changes to their positions in PTCT. Smartleaf Asset Management LLC boosted its holdings in shares of PTC Therapeutics by 101.3% during the third quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 236 shares during the last quarter. Optiver Holding B.V. boosted its holdings in shares of PTC Therapeutics by 96.5% during the third quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 249 shares during the last quarter. Comerica Bank boosted its holdings in shares of PTC Therapeutics by 868.5% during the third quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 469 shares during the last quarter. Salomon & Ludwin LLC acquired a new stake in shares of PTC Therapeutics during the fourth quarter worth $41,000. Finally, IFP Advisors Inc boosted its holdings in shares of PTC Therapeutics by 68.1% during the third quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 310 shares during the last quarter.

PTC Therapeutics Stock Performance

Shares of PTCT opened at $71.47 on Monday. The firm has a market capitalization of $5.93 billion, a P/E ratio of -30.67, a price-to-earnings-growth ratio of 13.33 and a beta of 0.53. The stock’s fifty day simple moving average is $68.57 and its 200 day simple moving average is $72.36. PTC Therapeutics, Inc. has a twelve month low of $43.17 and a twelve month high of $87.50.

PTC Therapeutics (NASDAQ:PTCT) last issued its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.42. The business had revenue of $272.55 million for the quarter, compared to analyst estimates of $217.42 million. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 22.58%.The business’s quarterly revenue was up 43.5% on a year-over-year basis. During the same period last year, the company posted $10.04 EPS. Sell-side analysts predict that PTC Therapeutics, Inc. will post 0.19 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Lee Scott Golden sold 10,000 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $63.38, for a total value of $633,800.00. Following the transaction, the executive vice president directly owned 79,944 shares of the company’s stock, valued at approximately $5,066,850.72. This trade represents a 11.12% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Stephanie Okey sold 15,167 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $70.00, for a total value of $1,061,690.00. Following the completion of the transaction, the director directly owned 8,000 shares in the company, valued at $560,000. This trade represents a 65.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 142,604 shares of company stock worth $9,831,302. Corporate insiders own 5.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PTCT shares. TD Cowen upgraded PTC Therapeutics from a “hold” rating to a “buy” rating and raised their price objective for the stock from $75.00 to $90.00 in a report on Friday, May 8th. Barclays restated an “overweight” rating and set a $120.00 price objective on shares of PTC Therapeutics in a report on Monday, February 23rd. Jefferies Financial Group cut PTC Therapeutics from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $91.00 to $76.00 in a report on Monday, March 30th. Truist Financial upgraded PTC Therapeutics to a “strong-buy” rating in a report on Wednesday, March 25th. Finally, Morgan Stanley restated an “overweight” rating and set a $94.00 price objective on shares of PTC Therapeutics in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $88.36.

PTC Therapeutics Profile

PTC Therapeutics, Inc is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule and biologic therapies for the treatment of rare genetic disorders. Since its founding in 1998, PTC has dedicated its efforts to addressing high unmet medical needs by targeting underlying genetic causes of disease. The company’s research platform emphasizes mechanisms such as nonsense suppression and RNA modulation, enabling the development of novel treatments for conditions with limited therapeutic options.

Among PTC’s approved products is Translarna (ataluren), a first-in-class therapy designed to treat nonsense mutation Duchenne muscular dystrophy in select markets.