J. Goldman & Co LP grew its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 3,516.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 653,284 shares of the biopharmaceutical company’s stock after purchasing an additional 672,404 shares during the quarter. J. Goldman & Co LP’s holdings in PTC Therapeutics were worth $10,897,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. RTW Investments LP lifted its holdings in PTC Therapeutics by 18.2% in the fourth quarter. RTW Investments LP now owns 4,130,115 shares of the biopharmaceutical company’s stock worth $68,890,000 after purchasing an additional 634,972 shares during the period. Goldman Sachs Group Inc. lifted its holdings in PTC Therapeutics by 182.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 796,518 shares of the biopharmaceutical company’s stock worth $13,286,000 after purchasing an additional 514,068 shares during the period. Point72 Asset Management L.P. lifted its holdings in PTC Therapeutics by 1,587.8% in the third quarter. Point72 Asset Management L.P. now owns 400,000 shares of the biopharmaceutical company’s stock worth $8,004,000 after purchasing an additional 376,300 shares during the period. Spark Investment Management LLC lifted its holdings in PTC Therapeutics by 44.7% in the fourth quarter. Spark Investment Management LLC now owns 1,037,200 shares of the biopharmaceutical company’s stock worth $17,300,000 after purchasing an additional 320,200 shares during the period. Finally, Millennium Management LLC lifted its holdings in PTC Therapeutics by 113.0% in the fourth quarter. Millennium Management LLC now owns 555,205 shares of the biopharmaceutical company’s stock worth $9,261,000 after purchasing an additional 294,572 shares during the period. 91.77% of the stock is owned by institutional investors.
Shares of PTCT stock opened at $32.28 on Wednesday. The company has a quick ratio of 2.90, a current ratio of 3.04 and a debt-to-equity ratio of 0.93. PTC Therapeutics, Inc. has a 1 year low of $8.12 and a 1 year high of $32.71.
PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Tuesday, March 6th. The biopharmaceutical company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.14) by $0.17. PTC Therapeutics had a negative net margin of 40.64% and a negative return on equity of 50.75%. The firm had revenue of $78.00 million for the quarter, compared to analysts’ expectations of $78.59 million. During the same period in the previous year, the business earned ($0.78) earnings per share. PTC Therapeutics’s revenue for the quarter was up 209.5% compared to the same quarter last year. equities analysts expect that PTC Therapeutics, Inc. will post -0.69 EPS for the current year.
Several research firms recently weighed in on PTCT. Credit Suisse Group reaffirmed a “buy” rating and issued a $28.00 price objective on shares of PTC Therapeutics in a report on Tuesday, January 30th. Zacks Investment Research raised shares of PTC Therapeutics from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a report on Saturday, March 10th. William Blair reaffirmed a “hold” rating on shares of PTC Therapeutics in a report on Wednesday, March 7th. Barclays reaffirmed an “equal weight” rating and issued a $24.00 price objective (up previously from $18.00) on shares of PTC Therapeutics in a report on Wednesday, March 7th. Finally, Citigroup upped their price objective on shares of PTC Therapeutics from $24.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. PTC Therapeutics currently has a consensus rating of “Hold” and a consensus target price of $23.57.
In other PTC Therapeutics news, CEO Stuart Walter Peltz sold 2,230 shares of the business’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $18.03, for a total value of $40,206.90. Following the sale, the chief executive officer now directly owns 26,646 shares in the company, valued at $480,427.38. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders sold 2,719 shares of company stock worth $48,848. 8.10% of the stock is owned by company insiders.
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About PTC Therapeutics
PTC Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the discovery, development and commercialization of medicines using its expertise in ribonucleic acid (RNA) biology. Its product pipeline includes Ataluren (Translarna), PTC596 and RG7916. Its product candidate, ataluren, is an orally administered small-molecule compound for the treatment of patients with genetic disorders due to a nonsense mutation.
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