State Board of Administration of Florida Retirement System trimmed its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 5.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 25,857 shares of the biopharmaceutical company’s stock after selling 1,560 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in PTC Therapeutics were worth $1,224,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Tygh Capital Management Inc. lifted its position in PTC Therapeutics by 0.9% during the fourth quarter. Tygh Capital Management Inc. now owns 37,140 shares of the biopharmaceutical company’s stock valued at $2,267,000 after acquiring an additional 348 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of PTC Therapeutics by 1.0% during the 4th quarter. Sei Investments Co. now owns 57,937 shares of the biopharmaceutical company’s stock valued at $3,536,000 after purchasing an additional 571 shares during the last quarter. Duality Advisers LP boosted its position in shares of PTC Therapeutics by 2.7% in the 4th quarter. Duality Advisers LP now owns 21,634 shares of the biopharmaceutical company’s stock worth $1,320,000 after purchasing an additional 574 shares in the last quarter. Arizona State Retirement System grew its stake in PTC Therapeutics by 3.5% during the 4th quarter. Arizona State Retirement System now owns 17,671 shares of the biopharmaceutical company’s stock worth $1,078,000 after buying an additional 597 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in PTC Therapeutics by 8.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,944 shares of the biopharmaceutical company’s stock valued at $485,000 after buying an additional 614 shares in the last quarter.
PTC Therapeutics stock opened at $43.17 on Friday. The company has a current ratio of 4.47, a quick ratio of 4.41 and a debt-to-equity ratio of 3.80. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of -6.42 and a beta of 1.00. The stock has a 50 day moving average of $42.58. PTC Therapeutics, Inc. has a 12 month low of $37.12 and a 12 month high of $70.82.
A number of equities research analysts have recently weighed in on PTCT shares. Bank of America lowered PTC Therapeutics from a “buy” rating to a “neutral” rating in a research note on Friday, February 12th. Zacks Investment Research lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, April 30th. Royal Bank of Canada upgraded shares of PTC Therapeutics from an “underperform” rating to a “sector perform” rating and set a $47.00 price objective for the company in a research note on Monday, March 29th. They noted that the move was a valuation call. Cantor Fitzgerald cut their target price on PTC Therapeutics from $81.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, February 26th. Finally, Credit Suisse Group initiated coverage on PTC Therapeutics in a research report on Monday, April 26th. They set a “neutral” rating and a $54.00 price target for the company. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. PTC Therapeutics has a consensus rating of “Buy” and an average price target of $64.08.
In related news, insider Eric Pauwels sold 786 shares of PTC Therapeutics stock in a transaction dated Monday, April 19th. The stock was sold at an average price of $48.17, for a total value of $37,861.62. Following the completion of the transaction, the insider now owns 35,701 shares in the company, valued at approximately $1,719,717.17. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 5.00% of the stock is owned by company insiders.
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) and Emflaza (deflazacort) for the treatment of nonsense mutation Duchenne muscular dystrophy in ambulatory patients.
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