Wells Fargo & Company MN raised its stake in PTC Therapeutics (NASDAQ:PTCT) by 43.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 76,157 shares of the biopharmaceutical company’s stock after purchasing an additional 23,164 shares during the period. Wells Fargo & Company MN owned 0.18% of PTC Therapeutics worth $1,271,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in PTCT. Macquarie Group Ltd. acquired a new position in shares of PTC Therapeutics in the third quarter valued at $102,000. Teacher Retirement System of Texas acquired a new position in shares of PTC Therapeutics in the fourth quarter valued at $228,000. Public Employees Retirement System of Ohio increased its holdings in shares of PTC Therapeutics by 49.5% in the third quarter. Public Employees Retirement System of Ohio now owns 11,582 shares of the biopharmaceutical company’s stock valued at $232,000 after purchasing an additional 3,835 shares during the last quarter. Creative Planning acquired a new position in shares of PTC Therapeutics in the fourth quarter valued at $234,000. Finally, Oppenheimer & Co. Inc. increased its holdings in shares of PTC Therapeutics by 15.9% in the fourth quarter. Oppenheimer & Co. Inc. now owns 17,493 shares of the biopharmaceutical company’s stock valued at $292,000 after purchasing an additional 2,400 shares during the last quarter. Hedge funds and other institutional investors own 83.18% of the company’s stock.
Several research firms have commented on PTCT. Barclays downgraded shares of PTC Therapeutics from an “equal weight” rating to an “underweight” rating and upped their price objective for the company from $24.00 to $26.00 in a report on Tuesday, April 3rd. Zacks Investment Research upgraded shares of PTC Therapeutics from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a report on Saturday, March 10th. William Blair reiterated a “hold” rating on shares of PTC Therapeutics in a report on Wednesday, March 7th. Citigroup upped their price objective on shares of PTC Therapeutics from $24.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $28.00 price objective on shares of PTC Therapeutics in a report on Tuesday, January 30th. Three analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $23.86.
Shares of PTC Therapeutics stock opened at $26.23 on Friday. The stock has a market capitalization of $1,195.27, a PE ratio of -12.99 and a beta of 1.66. PTC Therapeutics has a 52-week low of $10.65 and a 52-week high of $33.22. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.04 and a quick ratio of 2.90.
PTC Therapeutics (NASDAQ:PTCT) last announced its earnings results on Tuesday, March 6th. The biopharmaceutical company reported $0.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.17. The company had revenue of $78.00 million during the quarter, compared to analysts’ expectations of $78.59 million. PTC Therapeutics had a negative net margin of 40.64% and a negative return on equity of 50.75%. PTC Therapeutics’s quarterly revenue was up 209.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.78) earnings per share. analysts anticipate that PTC Therapeutics will post -1.55 earnings per share for the current year.
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PTC Therapeutics Profile
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) for the treatment of nonsense mutation Duchenne muscular dystrophy in ambulatory patients; and Emflaza (deflazacort) for treating Duchenne muscular dystrophy.
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