Scopia Capital Management LP Has $44.24 Million Holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT)

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Scopia Capital Management LP cut its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 53.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 983,005 shares of the biopharmaceutical company’s stock after selling 1,123,185 shares during the period. PTC Therapeutics comprises approximately 2.0% of Scopia Capital Management LP’s investment portfolio, making the stock its 15th biggest holding. Scopia Capital Management LP’s holdings in PTC Therapeutics were worth $44,235,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of PTCT. Pictet Asset Management Ltd. raised its holdings in shares of PTC Therapeutics by 183.1% in the second quarter. Pictet Asset Management Ltd. now owns 1,122,473 shares of the biopharmaceutical company’s stock valued at $50,511,000 after purchasing an additional 725,997 shares during the last quarter. Panagora Asset Management Inc. raised its holdings in shares of PTC Therapeutics by 344.8% in the second quarter. Panagora Asset Management Inc. now owns 526,260 shares of the biopharmaceutical company’s stock valued at $23,682,000 after purchasing an additional 407,959 shares during the last quarter. BlackRock Inc. raised its holdings in shares of PTC Therapeutics by 9.6% in the second quarter. BlackRock Inc. now owns 4,502,671 shares of the biopharmaceutical company’s stock valued at $202,619,000 after purchasing an additional 394,773 shares during the last quarter. Sofinnova Investments Inc. acquired a new stake in shares of PTC Therapeutics in the second quarter valued at approximately $16,601,000. Finally, Marshall Wace North America L.P. raised its holdings in shares of PTC Therapeutics by 79.5% in the first quarter. Marshall Wace North America L.P. now owns 662,587 shares of the biopharmaceutical company’s stock valued at $24,940,000 after purchasing an additional 293,495 shares during the last quarter. Institutional investors own 97.84% of the company’s stock.

In other news, VP Mark Elliott Boulding sold 77,575 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $45.00, for a total value of $3,490,875.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Christine Marie Utter sold 14,059 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $45.14, for a total transaction of $634,623.26. Following the completion of the sale, the senior vice president now directly owns 5,173 shares of the company’s stock, valued at approximately $233,509.22. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 289,601 shares of company stock valued at $13,030,032. Company insiders own 7.00% of the company’s stock.

PTCT traded up $0.19 during trading on Friday, reaching $39.19. 27,873 shares of the stock were exchanged, compared to its average volume of 287,935. The stock has a market cap of $2.55 billion, a P/E ratio of -21.36 and a beta of 1.74. PTC Therapeutics, Inc. has a twelve month low of $27.53 and a twelve month high of $48.99. The stock’s 50 day moving average price is $44.38 and its two-hundred day moving average price is $40.97. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.63 and a current ratio of 2.73.

PTC Therapeutics (NASDAQ:PTCT) last released 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 return on equity of 35.79% and a negative net margin of 76.41%. The company had revenue of $85.50 million for the quarter, compared to the consensus estimate of $78.65 million. During the same period last year, the firm earned ($0.21) earnings per share. The company’s revenue for the quarter was up 24.5% compared to the same quarter last year. Equities research analysts predict that PTC Therapeutics, Inc. will post -2.71 earnings per share for the current fiscal year.

A number of analysts have recently issued reports on PTCT shares. Zacks Investment Research downgraded shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, July 16th. ValuEngine downgraded shares of PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday, June 17th. Finally, Barclays restated a “hold” rating and set a $43.00 target price on shares of PTC Therapeutics in a report on Monday, August 12th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. PTC Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $50.89.

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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