Teacher Retirement System of Texas Acquires New Position in PTC Therapeutics, Inc. (PTCT)

Teacher Retirement System of Texas acquired a new stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) during the 1st quarter, HoldingsChannel reports. The fund acquired 151,805 shares of the biopharmaceutical company’s stock, valued at approximately $5,714,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Boston Advisors LLC lifted its stake in shares of PTC Therapeutics by 9.1% during the fourth quarter. Boston Advisors LLC now owns 27,375 shares of the biopharmaceutical company’s stock valued at $940,000 after buying an additional 2,285 shares during the period. Canton Hathaway LLC lifted its stake in shares of PTC Therapeutics by 57.1% during the fourth quarter. Canton Hathaway LLC now owns 1,100 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 400 shares during the period. Vanguard Group Inc. lifted its stake in shares of PTC Therapeutics by 39.4% during the third quarter. Vanguard Group Inc. now owns 4,458,295 shares of the biopharmaceutical company’s stock valued at $209,539,000 after buying an additional 1,261,166 shares during the period. Amalgamated Bank purchased a new position in shares of PTC Therapeutics during the fourth quarter valued at approximately $228,000. Finally, Alps Advisors Inc. lifted its stake in shares of PTC Therapeutics by 18.7% during the first quarter. Alps Advisors Inc. now owns 138,464 shares of the biopharmaceutical company’s stock valued at $5,212,000 after buying an additional 21,862 shares during the period. 87.86% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider Christine Marie Utter sold 28,709 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $34.97, for a total value of $1,003,953.73. Following the transaction, the insider now owns 5,937 shares of the company’s stock, valued at approximately $207,616.89. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 7.00% of the company’s stock.



NASDAQ:PTCT traded down $1.03 during trading hours on Monday, reaching $37.90. 119,409 shares of the company were exchanged, compared to its average volume of 948,407. The company has a quick ratio of 3.24, a current ratio of 3.35 and a debt-to-equity ratio of 0.27. The company has a market cap of $2.27 billion, a P/E ratio of -20.60 and a beta of 2.01. PTC Therapeutics, Inc. has a 52-week low of $27.53 and a 52-week high of $52.95.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings results on Thursday, February 28th. The biopharmaceutical company reported ($0.46) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.43) by ($0.03). PTC Therapeutics had a negative return on equity of 32.42% and a negative net margin of 68.99%. The company had revenue of $86.34 million for the quarter, compared to analysts’ expectations of $85.41 million. Research analysts forecast that PTC Therapeutics, Inc. will post -2.54 earnings per share for the current fiscal year.

Several equities analysts recently issued reports on the stock. Bank of America raised shares of PTC Therapeutics from a “neutral” rating to a “buy” rating and upped their price objective for the company from $43.00 to $49.00 in a research note on Monday, May 13th. ValuEngine raised shares of PTC Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 10th. Zacks Investment Research downgraded shares of PTC Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, May 8th. Cowen reaffirmed a “hold” rating on shares of PTC Therapeutics in a research note on Wednesday, May 8th. Finally, Citigroup set a $59.00 price target on shares of PTC Therapeutics and gave the stock a “buy” rating in a research note on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. PTC Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $49.89.

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About PTC Therapeutics

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.

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Institutional Ownership by Quarter for PTC Therapeutics (NASDAQ:PTCT)

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