35,600 Shares in PTC Therapeutics, Inc. $PTCT Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System bought a new stake in PTC Therapeutics, Inc. (NASDAQ:PTCT) in the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 35,600 shares of the biopharmaceutical company’s stock, valued at approximately $2,425,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. OP Asset Management Ltd acquired a new stake in shares of PTC Therapeutics during the first quarter worth about $2,289,000. Assenagon Asset Management S.A. grew its holdings in shares of PTC Therapeutics by 13.3% in the first quarter. Assenagon Asset Management S.A. now owns 61,397 shares of the biopharmaceutical company’s stock valued at $4,183,000 after purchasing an additional 7,227 shares in the last quarter. Evolve Private Wealth LLC increased its stake in PTC Therapeutics by 5.2% during the 1st quarter. Evolve Private Wealth LLC now owns 6,122 shares of the biopharmaceutical company’s stock worth $417,000 after buying an additional 305 shares during the period. Diversified Trust Co increased its stake in PTC Therapeutics by 6.7% during the 1st quarter. Diversified Trust Co now owns 18,557 shares of the biopharmaceutical company’s stock worth $1,264,000 after buying an additional 1,163 shares during the period. Finally, Flax Pond Capital LLC acquired a new stake in PTC Therapeutics during the 4th quarter worth approximately $456,000.

PTC Therapeutics Stock Down 3.4%

Shares of PTC Therapeutics stock opened at $81.57 on Tuesday. PTC Therapeutics, Inc. has a 52-week low of $43.17 and a 52-week high of $87.50. The company has a market capitalization of $6.77 billion, a P/E ratio of -35.01, a P/E/G ratio of 3.88 and a beta of 0.55. The company has a 50 day moving average of $72.76 and a 200 day moving average of $72.14.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.42. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. The company had revenue of $272.55 million for the quarter, compared to the consensus estimate of $217.42 million. During the same period in the prior year, the firm posted $10.04 EPS. The company’s quarterly revenue was up 43.5% compared to the same quarter last year. As a group, research analysts anticipate that PTC Therapeutics, Inc. will post 0.78 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Mark Elliott Boulding sold 10,462 shares of the business’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $78.65, for a total transaction of $822,836.30. Following the completion of the transaction, the vice president owned 105,272 shares in the company, valued at approximately $8,279,642.80. The trade was a 9.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Pauwels sold 21,277 shares of the stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $75.00, for a total value of $1,595,775.00. Following the completion of the transaction, the insider directly owned 73,411 shares in the company, valued at $5,505,825. This trade represents a 22.47% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 178,328 shares of company stock valued at $13,487,625. Insiders own 5.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Morgan Stanley reissued an “overweight” rating and issued a $94.00 price target on shares of PTC Therapeutics in a research report on Friday, May 8th. TD Cowen raised PTC Therapeutics from a “hold” rating to a “buy” rating and upped their price objective for the stock from $75.00 to $90.00 in a research report on Friday, May 8th. Weiss Ratings lowered PTC Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, May 11th. Royal Bank Of Canada boosted their target price on PTC Therapeutics from $81.00 to $82.00 and gave the stock a “sector perform” rating in a research note on Friday, May 8th. Finally, Citigroup upgraded PTC Therapeutics from a “neutral” rating to a “buy” rating and upped their price target for the stock from $75.00 to $108.00 in a report on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, PTC Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.36.

PTC Therapeutics Company 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.