Quarry LP Has $153,000 Position in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Quarry LP lifted its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 100.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,000 shares of the biopharmaceutical company’s stock after purchasing an additional 2,500 shares during the quarter. Quarry LP’s holdings in PTC Therapeutics were worth $153,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of PTC Therapeutics during the first quarter worth about $46,000. Quest Partners LLC acquired a new stake in PTC Therapeutics in the 2nd quarter valued at approximately $128,000. Lazard Asset Management LLC raised its position in PTC Therapeutics by 268.9% in the 1st quarter. Lazard Asset Management LLC now owns 6,504 shares of the biopharmaceutical company’s stock valued at $188,000 after buying an additional 4,741 shares during the last quarter. Headlands Technologies LLC raised its position in PTC Therapeutics by 83.2% in the 2nd quarter. Headlands Technologies LLC now owns 6,611 shares of the biopharmaceutical company’s stock valued at $202,000 after buying an additional 3,002 shares during the last quarter. Finally, Sanibel Captiva Trust Company Inc. acquired a new stake in PTC Therapeutics in the 2nd quarter valued at approximately $205,000.

Insider Transactions at PTC Therapeutics

In other news, CFO Pierre Gravier sold 2,269 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $34.02, for a total value of $77,191.38. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.50% of the stock is owned by insiders.

PTC Therapeutics Price Performance

Shares of NASDAQ PTCT opened at $37.10 on Tuesday. The stock has a market capitalization of $2.85 billion, a PE ratio of -4.83 and a beta of 0.64. The business has a fifty day moving average price of $33.78 and a two-hundred day moving average price of $32.65. PTC Therapeutics, Inc. has a fifty-two week low of $17.53 and a fifty-two week high of $40.69.

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. UBS Group assumed coverage on PTC Therapeutics in a research report on Monday, August 26th. They issued a “buy” rating and a $47.00 target price on the stock. Robert W. Baird assumed coverage on PTC Therapeutics in a research report on Wednesday, September 4th. They issued an “outperform” rating and a $44.00 target price on the stock. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $53.00 target price on shares of PTC Therapeutics in a research report on Thursday, June 20th. Bank of America lifted their target price on PTC Therapeutics from $25.00 to $32.00 and gave the company an “underperform” rating in a research report on Friday, June 21st. Finally, Baird R W upgraded PTC Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has issued 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.

PTC Therapeutics Profile

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.