13,717 PTC Therapeutics, Inc. $PTCT Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 43.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,065 shares of the biopharmaceutical company’s stock after selling 13,717 shares during the period. State of Alaska Department of Revenue’s holdings in PTC Therapeutics were worth $1,169,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Allworth Financial LP bought a new stake in shares of PTC Therapeutics in the second quarter valued at approximately $67,000. Harbor Investment Advisory LLC acquired a new stake in shares of PTC Therapeutics in the second quarter worth $81,000. EverSource Wealth Advisors LLC grew its stake in shares of PTC Therapeutics by 16.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the biopharmaceutical company’s stock worth $71,000 after acquiring an additional 151 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of PTC Therapeutics in the second quarter worth $112,000. Finally, GAMMA Investing LLC increased its position in PTC Therapeutics by 58.1% during the second quarter. GAMMA Investing LLC now owns 1,453 shares of the biopharmaceutical company’s stock worth $119,000 after acquiring an additional 534 shares during the period.

PTC Therapeutics Price Performance

Shares of NASDAQ:PTCT opened at $62.92 on Wednesday. PTC Therapeutics, Inc. has a 1-year low of $58.80 and a 1-year high of $90.87. The business’s 50 day moving average is $66.93 and its 200-day moving average is $71.68.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.68. The firm had revenue of $360.52 million for the quarter, compared to the consensus estimate of $298.63 million. The business’s revenue for the quarter was up 101.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.83) earnings per share. As a group, analysts anticipate that PTC Therapeutics, Inc. will post 1.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on PTCT. UBS Group reiterated a “buy” rating and set a $90.00 target price (up from $80.00) on shares of PTC Therapeutics in a research note on Thursday, October 15th. Royal Bank Of Canada reduced their price target on shares of PTC Therapeutics from $85.00 to $75.00 and set a “sector perform” rating for the company in a report on Wednesday, October 7th. Raymond James Financial set a $106.00 price target on shares of PTC Therapeutics in a research report on Tuesday. Wall Street Zen downgraded shares of PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 10th. Finally, Cantor Fitzgerald boosted their price objective on shares of PTC Therapeutics from $130.00 to $137.00 and gave the stock an “overweight” rating in a report on Tuesday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, PTC Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $94.93.

Insider Activity

In other news, Director Michael Schmertzler sold 2,500 shares of the stock in a transaction that occurred on Wednesday, October 14th. The stock was sold at an average price of $59.61, for a total value of $149,025.00. Following the completion of the transaction, the director directly owned 1,291,594 shares of the company’s stock, valued at approximately $76,991,918.34. This represents a 0.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Glenn Steele, Jr. sold 12,000 shares of the stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $65.16, for a total value of $781,920.00. Following the transaction, the director owned 22,500 shares of the company’s stock, valued at $1,466,100. This represents a 34.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 77,370 shares of company stock worth $5,322,261. Company insiders own 5.30% of the company’s stock.

PTC Therapeutics Profile

PTC Therapeutics, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for rare diseases. Its research programs include small-molecule treatments, gene therapies and other approaches designed to address conditions with limited or no available treatment options.

The company’s commercial portfolio has included Emflaza (deflazacort), a corticosteroid approved in the United States to treat Duchenne muscular dystrophy, and Upstaza (eladocagene exuparvovec), a gene therapy authorized in the European Union for aromatic L-amino acid decarboxylase deficiency.