Stonebridge Capital Management Inc. reduced its stake in shares of PTC Therapeutics Inc. (NASDAQ:PTCT) by 71.4% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 21,385 shares of the biopharmaceutical company’s stock after selling 53,325 shares during the period. Stonebridge Capital Management Inc.’s holdings in PTC Therapeutics were worth $150,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Bank of Montreal Can bought a new stake in shares of PTC Therapeutics during the second quarter valued at $190,000. Bellevue Group AG acquired a new stake in PTC Therapeutics during the first quarter valued at approximately $225,000. BlackRock Inc. boosted its stake in PTC Therapeutics by 4,748.6% in the first quarter. BlackRock Inc. now owns 48,825 shares of the biopharmaceutical company’s stock valued at $315,000 after buying an additional 47,818 shares in the last quarter. Alps Advisors Inc. boosted its stake in PTC Therapeutics by 24.9% in the second quarter. Alps Advisors Inc. now owns 48,135 shares of the biopharmaceutical company’s stock valued at $338,000 after buying an additional 9,594 shares in the last quarter. Finally, Pacad Investment Ltd. acquired a new stake in PTC Therapeutics during the first quarter valued at approximately $481,000. 83.32% of the stock is owned by institutional investors.
Shares of PTC Therapeutics Inc. (NASDAQ:PTCT) traded down 1.45% during mid-day trading on Thursday, hitting $11.56. The company had a trading volume of 746,230 shares. The firm’s market capitalization is $394.00 million. PTC Therapeutics Inc. has a 52 week low of $5.27 and a 52 week high of $35.76. The firm has a 50-day moving average price of $8.84 and a 200-day moving average price of $7.49.
PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.27) by $0.13. PTC Therapeutics had a negative return on equity of 80.50% and a negative net margin of 305.62%. The company had revenue of $15.40 million for the quarter, compared to the consensus estimate of $15.24 million. During the same quarter in the previous year, the business earned ($1.14) EPS. PTC Therapeutics’s revenue was up 150.0% compared to the same quarter last year. Equities analysts forecast that PTC Therapeutics Inc. will post ($4.95) earnings per share for the current year.
PTCT has been the subject of several recent analyst reports. Wedbush decreased their target price on PTC Therapeutics from $12.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, July 26th. Credit Suisse Group AG cut PTC Therapeutics from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 26th. Cowen and Company reaffirmed a “hold” rating on shares of PTC Therapeutics in a research note on Sunday, August 7th. Zacks Investment Research raised PTC Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, July 26th. Finally, JPMorgan Chase & Co. decreased their target price on PTC Therapeutics from $18.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $34.63.
About PTC Therapeutics
PTC Therapeutics, Inc is a biopharmaceutical company focused on the discovery, development and commercialization of orally administered, small molecule therapeutics that focus on post-transcriptional control processes. The Company’s lead product, Translarna (ataluren), is used for the treatment of nonsense mutation Duchenne muscular dystrophy (nmDMD) in ambulatory patients with age of over five years and older.
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