Millennium Management LLC increased its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 22.0% during the first quarter, HoldingsChannel reports. The firm owned 677,501 shares of the biopharmaceutical company’s stock after buying an additional 122,296 shares during the period. Millennium Management LLC’s holdings in PTC Therapeutics were worth $18,333,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in PTCT. Seven Eight Capital LP bought a new position in shares of PTC Therapeutics during the first quarter valued at approximately $216,000. MANA Advisors LLC bought a new position in shares of PTC Therapeutics during the fourth quarter valued at approximately $221,000. Chubb Ltd bought a new position in shares of PTC Therapeutics during the first quarter valued at approximately $221,000. Teacher Retirement System of Texas bought a new position in shares of PTC Therapeutics during the fourth quarter valued at approximately $228,000. Finally, Virtu Financial LLC bought a new position in shares of PTC Therapeutics during the fourth quarter valued at approximately $247,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.
In other news, COO Marcio Souza sold 5,161 shares of PTC Therapeutics stock in a transaction on Friday, June 1st. The shares were sold at an average price of $34.65, for a total transaction of $178,828.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Neil Gregory Almstead sold 20,000 shares of PTC Therapeutics stock in a transaction on Tuesday, June 19th. The stock was sold at an average price of $48.31, for a total transaction of $966,200.00. Following the sale, the executive vice president now owns 37,154 shares of the company’s stock, valued at $1,794,909.74. The disclosure for this sale can be found here. Insiders own 7.50% of the company’s stock.
Shares of PTCT opened at $33.90 on Tuesday. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of -16.70 and a beta of 1.71. PTC Therapeutics, Inc. has a twelve month low of $14.56 and a twelve month high of $52.95. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.33 and a quick ratio of 3.16.
PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings data on Wednesday, May 9th. The biopharmaceutical company reported ($0.46) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.43) by ($0.03). PTC Therapeutics had a negative return on equity of 40.42% and a negative net margin of 30.91%. The company had revenue of $56.10 million for the quarter, compared to analyst estimates of $63.46 million. During the same quarter in the previous year, the firm posted ($0.85) earnings per share. The company’s quarterly revenue was up 111.7% on a year-over-year basis. equities analysts predict that PTC Therapeutics, Inc. will post -0.79 earnings per share for the current fiscal year.
PTCT has been the subject of several recent analyst reports. ValuEngine upgraded shares of PTC Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, May 17th. Barclays downgraded shares of PTC Therapeutics from an “equal weight” rating to an “underweight” rating and raised their target price for the company from $24.00 to $26.00 in a research note 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 target price for the company in a research note on Saturday, March 10th. William Blair restated a “hold” rating on shares of PTC Therapeutics in a research note on Wednesday, March 7th. Finally, Royal Bank of Canada upgraded shares of PTC Therapeutics from a “sector perform” rating to an “outperform” rating and set a $11.00 target price for the company in a research note on Monday, June 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $23.29.
PTC Therapeutics Company 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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