Renaissance Technologies LLC Has $25.02 Million Stock Holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Renaissance Technologies LLC boosted its stake in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 7.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 818,100 shares of the biopharmaceutical company’s stock after purchasing an additional 56,700 shares during the quarter. Renaissance Technologies LLC owned about 1.07% of PTC Therapeutics worth $25,017,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of PTCT. Allspring Global Investments Holdings LLC acquired a new stake in PTC Therapeutics in the first quarter worth $46,000. Quest Partners LLC acquired a new stake in PTC Therapeutics in the second quarter worth $128,000. Lazard Asset Management LLC grew its holdings in PTC Therapeutics by 268.9% in the first quarter. Lazard Asset Management LLC now owns 6,504 shares of the biopharmaceutical company’s stock worth $188,000 after purchasing an additional 4,741 shares during the period. Headlands Technologies LLC grew its holdings in PTC Therapeutics by 83.2% in the second quarter. Headlands Technologies LLC now owns 6,611 shares of the biopharmaceutical company’s stock worth $202,000 after purchasing an additional 3,002 shares during the period. Finally, Sanibel Captiva Trust Company Inc. acquired a new stake in PTC Therapeutics in the second quarter worth $205,000.

Insiders Place Their Bets

In other news, CFO Pierre Gravier sold 2,269 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $34.02, for a total value of $77,191.38. Following the sale, the chief financial officer now owns 53,531 shares of the company’s stock, valued at $1,821,124.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 5.50% of the company’s stock.

PTC Therapeutics Stock Performance

Shares of PTCT stock opened at $36.16 on Friday. The firm has a market cap of $2.77 billion, a price-to-earnings ratio of -4.71 and a beta of 0.64. PTC Therapeutics, Inc. has a 52 week low of $17.53 and a 52 week high of $40.69. The firm’s 50-day simple moving average is $33.35 and its two-hundred day simple moving average is $32.38.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data 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 business had revenue of $186.70 million for the quarter, compared to analyst estimates of $192.12 million. Analysts forecast that PTC Therapeutics, Inc. will post -5.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Bank of America lifted their price objective on shares of PTC Therapeutics from $25.00 to $32.00 and gave the company an “underperform” rating in a report on Friday, June 21st. The Goldman Sachs Group lifted their price objective on shares of PTC Therapeutics from $18.00 to $32.00 and gave the company a “sell” rating in a report on Tuesday, May 28th. Barclays lifted their price objective on shares of PTC Therapeutics from $25.00 to $31.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Baird R W upgraded shares of PTC Therapeutics to a “strong-buy” rating in a report on Wednesday, September 4th. Finally, UBS Group assumed coverage on shares of PTC Therapeutics in a report on Monday, August 26th. They set a “buy” rating and a $47.00 price objective for the company. Three analysts have rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PTC Therapeutics has a consensus rating of “Hold” and a consensus target price of $37.64.

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.