Prudential Financial Inc. Increases Stock Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Prudential Financial Inc. increased its position in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 22.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 291,680 shares of the biopharmaceutical company’s stock after purchasing an additional 54,069 shares during the quarter. Prudential Financial Inc. owned 0.50% of PTC Therapeutics worth $13,126,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Focused Wealth Management Inc purchased a new position in shares of PTC Therapeutics in the second quarter valued at $54,000. Botty Investors LLC purchased a new position in shares of PTC Therapeutics in the first quarter valued at $75,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of PTC Therapeutics by 14.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,122 shares of the biopharmaceutical company’s stock valued at $118,000 after purchasing an additional 390 shares during the period. Aperio Group LLC purchased a new position in shares of PTC Therapeutics in the second quarter valued at $168,000. Finally, NumerixS Investment Technologies Inc boosted its stake in shares of PTC Therapeutics by 400.0% in the first quarter. NumerixS Investment Technologies Inc now owns 5,000 shares of the biopharmaceutical company’s stock valued at $182,000 after purchasing an additional 4,000 shares during the period.

PTCT has been the topic of a number of research analyst reports. Bank of America upgraded shares of PTC Therapeutics from a “neutral” rating to a “buy” rating and increased their price objective for the company from $43.00 to $49.00 in a research note on Monday, May 13th. Barclays reiterated a “hold” rating and set a $43.00 price objective on shares of PTC Therapeutics in a research note on Monday, August 12th. Zacks Investment Research downgraded shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, July 16th. Finally, ValuEngine downgraded shares of PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 17th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $50.89.

In other PTC Therapeutics news, VP Mark Elliott Boulding sold 181,667 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $45.00, for a total transaction of $8,175,015.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Christine Marie Utter sold 14,059 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $45.14, for a total transaction of $634,623.26. Following the sale, the senior vice president now directly owns 5,173 shares in the company, valued at $233,509.22. The disclosure for this sale can be found here. Insiders have sold 289,601 shares of company stock worth $13,030,032 over the last three months. 7.00% of the stock is owned by corporate insiders.

NASDAQ PTCT traded down $0.93 during trading hours on Friday, reaching $42.38. 320,668 shares of the company traded hands, compared to its average volume of 283,162. PTC Therapeutics, Inc. has a 12 month low of $27.53 and a 12 month high of $48.99. The company has a current ratio of 2.73, a quick ratio of 2.63 and a debt-to-equity ratio of 0.28. The company has a 50 day moving average of $45.09 and a two-hundred day moving average of $40.41.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported ($0.66) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.46) by ($0.20). PTC Therapeutics had a negative net margin of 76.41% and a negative return on equity of 35.79%. The company had revenue of $85.50 million for the quarter, compared to the consensus estimate of $78.65 million. During the same quarter last year, the company earned ($0.21) earnings per share. The company’s revenue was up 24.5% compared to the same quarter last year. As a group, research analysts predict that PTC Therapeutics, Inc. will post -2.71 earnings per share for the current fiscal year.

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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