PTC Therapeutics, Inc. (NASDAQ:PTCT) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 6.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,796 shares of the biopharmaceutical company’s stock after purchasing an additional 2,660 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.06% of PTC Therapeutics worth $1,339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in PTCT. Russell Investments Group Ltd. grew its position in shares of PTC Therapeutics by 57.9% in the first quarter. Russell Investments Group Ltd. now owns 301,790 shares of the biopharmaceutical company’s stock valued at $8,779,000 after purchasing an additional 110,670 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of PTC Therapeutics by 8.7% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 439,365 shares of the biopharmaceutical company’s stock valued at $12,782,000 after purchasing an additional 35,173 shares in the last quarter. Edgestream Partners L.P. increased 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. purchased a new position in shares of PTC Therapeutics in the 1st quarter valued at about $1,223,000. Finally, Assenagon Asset Management S.A. increased its holdings in 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 valued at $11,401,000 after acquiring an additional 66,596 shares in the last quarter.

PTC Therapeutics Price Performance

NASDAQ PTCT opened at $39.00 on Friday. The business has a 50 day simple moving average of $34.46 and a 200 day simple moving average of $33.08. PTC Therapeutics, Inc. has a one year low of $17.53 and a one year high of $41.81. The stock has a market capitalization of $3.00 billion, a P/E ratio of -6.18 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 company had revenue of $186.70 million during the quarter, compared to analyst estimates of $192.12 million. Equities analysts expect that PTC Therapeutics, Inc. will post -5.09 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PTCT shares. Bank of America raised their price target on shares of PTC Therapeutics from $25.00 to $32.00 and gave the stock an “underperform” rating in a research note on Friday, June 21st. Robert W. Baird restated an “outperform” rating and issued a $44.00 price target on shares of PTC Therapeutics in a research note on Tuesday. Royal Bank of Canada lifted their price target on shares of PTC Therapeutics from $32.00 to $34.00 and gave the stock a “sector perform” rating in a research note on Friday, October 4th. 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. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and set a $53.00 price target on shares of PTC Therapeutics in a report on Thursday, June 20th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, PTC Therapeutics currently has an average rating of “Hold” and a consensus price target of $40.08.

Insider Buying and Selling

In other news, CFO Pierre Gravier sold 2,269 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $34.02, for a total value of $77,191.38. Following the completion of the sale, the chief financial officer now owns 53,531 shares of the company’s stock, valued at approximately $1,821,124.62. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 5.50% of the stock is owned by company insiders.

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.