Quest Partners LLC Takes $128,000 Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Quest Partners LLC bought a new position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 4,188 shares of the biopharmaceutical company’s stock, valued at approximately $128,000.

A number of other hedge funds also recently modified their holdings of PTCT. Russell Investments Group Ltd. increased its holdings in PTC Therapeutics by 57.9% in the 1st quarter. Russell Investments Group Ltd. now owns 301,790 shares of the biopharmaceutical company’s stock valued at $8,779,000 after buying an additional 110,670 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in PTC Therapeutics by 8.7% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 439,365 shares of the biopharmaceutical company’s stock worth $12,782,000 after purchasing an additional 35,173 shares during the last quarter. Edgestream Partners L.P. boosted its holdings in shares of PTC Therapeutics by 49.3% in the 1st quarter. Edgestream Partners L.P. now owns 53,522 shares of the biopharmaceutical company’s stock valued at $1,557,000 after purchasing an additional 17,681 shares in the last quarter. Burney Co. bought a new position in shares of PTC Therapeutics in the 1st quarter valued at $1,223,000. Finally, Assenagon Asset Management S.A. raised its holdings in shares of PTC Therapeutics by 21.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 372,827 shares of the biopharmaceutical company’s stock worth $11,401,000 after buying an additional 66,596 shares in the last quarter.

Insider Transactions at PTC Therapeutics

In related news, CFO Pierre Gravier sold 2,269 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $34.02, for a total transaction of $77,191.38. Following the transaction, the chief financial officer now owns 53,531 shares in the company, valued at approximately $1,821,124.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.50% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Robert W. Baird started coverage on PTC Therapeutics in a research note on Wednesday, September 4th. They issued an “outperform” rating and a $44.00 price objective on the stock. Raymond James upgraded PTC Therapeutics from an “underperform” rating to a “market perform” rating in a report on Monday, May 20th. UBS Group initiated coverage on shares of PTC Therapeutics in a report on Monday, August 26th. They issued a “buy” rating and a $47.00 price objective for the company. JPMorgan Chase & Co. reissued an “overweight” rating and set a $53.00 target price on shares of PTC Therapeutics in a report on Thursday, June 20th. Finally, Citigroup upped their price target on shares of PTC Therapeutics from $18.00 to $26.00 and gave the company a “sell” rating in a research report on Tuesday, May 21st. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $37.13.

PTC Therapeutics Trading Down 0.6 %

PTCT stock opened at $33.77 on Tuesday. The firm has a market cap of $2.59 billion, a PE ratio of -4.40 and a beta of 0.64. The stock has a 50-day moving average price of $33.14 and a 200-day moving average price of $32.31. PTC Therapeutics, Inc. has a 1-year low of $17.53 and a 1-year high of $40.69.

PTC Therapeutics (NASDAQ:PTCT) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.16) EPS for the quarter, missing the consensus estimate of ($1.00) by ($0.16). The company had revenue of $186.70 million during the quarter, compared to analyst estimates of $192.12 million. On average, analysts forecast that PTC Therapeutics, Inc. will post -5.09 earnings per share for the current year.

About PTC Therapeutics

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders in the United States and internationally. The company offers Translarna and Emflaza for the treatment of Duchenne muscular dystrophy; Upstaza to treat aromatic l-amino acid decarboxylas (AADC) deficiency, a central nervous system disorder; Tegsedi and Waylivra for the treatment of rare diseases; and Evrysdi to treat spinal muscular atrophy (SMA) in adults and children.