Empirical Finance LLC Makes New $753,000 Investment in PTC Therapeutics, Inc. $PTCT

Empirical Finance LLC purchased a new position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) in the 2nd quarter, Holdings Channel reports. The firm purchased 9,226 shares of the biopharmaceutical company’s stock, valued at approximately $753,000.

A number of other large investors also recently modified their holdings of the company. Nykredit A S acquired a new stake in shares of PTC Therapeutics during the 2nd quarter valued at $263,000. Corient Private Wealth LP acquired a new position in PTC Therapeutics in the 2nd quarter worth about $1,231,000. Amundi increased its holdings in PTC Therapeutics by 171.7% in the 2nd quarter. Amundi now owns 12,227 shares of the biopharmaceutical company’s stock worth $997,000 after purchasing an additional 7,727 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in PTC Therapeutics in the second quarter valued at about $2,321,000. Finally, California State Teachers Retirement System raised its position in PTC Therapeutics by 7,806.7% in the second quarter. California State Teachers Retirement System now owns 6,666,961 shares of the biopharmaceutical company’s stock valued at $543,824,000 after purchasing an additional 6,582,641 shares during the last quarter.

Insider Buying and Selling

In other PTC Therapeutics news, CAO Christine Utter sold 19,686 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $75.56, for a total transaction of $1,487,474.16. Following the completion of the transaction, the chief accounting officer owned 70,199 shares in the company, valued at approximately $5,304,236.44. This trade represents a 21.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mary L. Smith sold 15,834 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $90.00, for a total transaction of $1,425,060.00. Following the transaction, the director owned 21,813 shares of the company’s stock, valued at approximately $1,963,170. The trade was a 42.06% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 196,566 shares of company stock valued at $16,090,679 over the last 90 days. 5.30% of the stock is currently owned by corporate insiders.

PTC Therapeutics Trading Down 0.3%

Shares of PTCT opened at $67.37 on Friday. The company has a market capitalization of $5.62 billion, a PE ratio of -116.16, a PEG ratio of 2.08 and a beta of 0.55. PTC Therapeutics, Inc. has a 12 month low of $57.47 and a 12 month high of $90.87. The stock’s 50-day moving average price is $74.70 and its two-hundred day moving average price is $72.22.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.68. The firm had revenue of $360.52 million for the quarter, compared to analyst estimates of $298.63 million. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 3.80%.The business’s revenue was up 101.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.83) EPS. Equities research analysts predict that PTC Therapeutics, Inc. will post 1.17 EPS for the current fiscal year.

Analysts Set New Price Targets

PTCT has been the topic of a number of recent research reports. Weiss Ratings upgraded PTC Therapeutics from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, September 1st. Wall Street Zen lowered shares of PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 22nd. Morgan Stanley raised their price objective on shares of PTC Therapeutics from $93.00 to $104.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Citigroup upgraded shares of PTC Therapeutics from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $75.00 to $108.00 in a research report on Tuesday, June 9th. Finally, Wells Fargo & Company boosted their target price on shares of PTC Therapeutics from $106.00 to $109.00 and gave the stock an “overweight” rating in a report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, PTC Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $98.55.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for rare diseases. The company uses technologies involving RNA biology, gene therapy and small-molecule drug discovery to address conditions with limited treatment options, including rare neurological and metabolic disorders.

PTC’s commercial portfolio has included Translarna (ataluren), an investigational treatment in some markets for Duchenne muscular dystrophy associated with a nonsense mutation, and Emflaza (deflazacort), a corticosteroid approved in the United States for Duchenne muscular dystrophy.