AQR Capital Management LLC Increases Holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT)

AQR Capital Management LLC boosted its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 307.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 68,912 shares of the biopharmaceutical company’s stock after purchasing an additional 52,019 shares during the quarter. AQR Capital Management LLC owned about 0.09% of PTC Therapeutics worth $2,107,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Janus Henderson Group PLC increased its stake in shares of PTC Therapeutics by 40.5% during the first quarter. Janus Henderson Group PLC now owns 3,669,816 shares of the biopharmaceutical company’s stock valued at $106,744,000 after buying an additional 1,057,223 shares during the period. Vanguard Group Inc. grew its holdings in PTC Therapeutics by 10.8% during the 4th quarter. Vanguard Group Inc. now owns 8,800,843 shares of the biopharmaceutical company’s stock worth $242,551,000 after acquiring an additional 855,354 shares in the last quarter. Wellington Management Group LLP increased its position in PTC Therapeutics by 4.0% during the 4th quarter. Wellington Management Group LLP now owns 9,816,603 shares of the biopharmaceutical company’s stock valued at $270,546,000 after purchasing an additional 380,415 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in shares of PTC Therapeutics by 21.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,605,841 shares of the biopharmaceutical company’s stock valued at $46,714,000 after purchasing an additional 282,422 shares in the last quarter. Finally, Armistice Capital LLC lifted its position in shares of PTC Therapeutics by 2.9% in the 2nd quarter. Armistice Capital LLC now owns 6,962,227 shares of the biopharmaceutical company’s stock worth $212,905,000 after purchasing an additional 198,227 shares during the period.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PTCT shares. Morgan Stanley lifted their price objective on shares of PTC Therapeutics from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, July 12th. UBS Group initiated coverage on PTC Therapeutics in a report on Monday, August 26th. They issued a “buy” rating and a $47.00 price target on the stock. Robert W. Baird restated an “outperform” rating and set a $44.00 price objective on shares of PTC Therapeutics in a research note on Tuesday. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $53.00 target price on shares of PTC Therapeutics in a research note on Thursday, June 20th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $64.00 target price on shares of PTC Therapeutics in a report on Tuesday, September 17th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, PTC Therapeutics currently has a consensus rating of “Hold” and a consensus target price of $39.08.

Insider Buying and Selling

In other PTC Therapeutics news, CFO Pierre Gravier sold 2,269 shares of the firm’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 transaction of $77,191.38. Following the completion of the transaction, the chief financial officer now directly owns 53,531 shares of the company’s stock, valued at approximately $1,821,124.62. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 5.50% of the company’s stock.

PTC Therapeutics Trading Up 16.5 %

NASDAQ PTCT opened at $40.77 on Wednesday. PTC Therapeutics, Inc. has a 12-month low of $17.53 and a 12-month high of $41.81. The company has a fifty day simple moving average of $34.22 and a two-hundred day simple moving average of $33.00. The stock has a market cap of $3.13 billion, a P/E ratio of -5.31 and a beta of 0.65.

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

PTC Therapeutics Company 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.