Creative Planning Has $310,000 Stock Holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Creative Planning grew its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 19.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,128 shares of the biopharmaceutical company’s stock after purchasing an additional 1,619 shares during the quarter. Creative Planning’s holdings in PTC Therapeutics were worth $310,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of PTC Therapeutics by 6.5% during the first quarter. Vanguard Group Inc. now owns 9,369,014 shares of the biopharmaceutical company’s stock worth $272,545,000 after acquiring an additional 568,171 shares during the last quarter. Armistice Capital LLC raised its position in shares of PTC Therapeutics by 2.9% during the second quarter. Armistice Capital LLC now owns 6,962,227 shares of the biopharmaceutical company’s stock worth $212,905,000 after acquiring an additional 198,227 shares during the last quarter. Cowen AND Company LLC raised its position in shares of PTC Therapeutics by 0.8% during the second quarter. Cowen AND Company LLC now owns 3,756,469 shares of the biopharmaceutical company’s stock worth $114,873,000 after acquiring an additional 30,843 shares during the last quarter. Janus Henderson Group PLC raised its position 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 worth $106,744,000 after acquiring an additional 1,057,223 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of PTC Therapeutics by 21.3% during the first quarter. Jacobs Levy Equity Management Inc. now owns 1,605,841 shares of the biopharmaceutical company’s stock worth $46,714,000 after acquiring an additional 282,422 shares during the last quarter.

PTC Therapeutics Trading Up 0.8 %

Shares of PTCT stock opened at $37.01 on Friday. PTC Therapeutics, Inc. has a 12-month low of $17.53 and a 12-month high of $41.81. The stock’s 50-day moving average price is $35.05 and its 200-day moving average price is $33.40. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of -4.82 and a beta of 0.65.

PTC Therapeutics (NASDAQ:PTCT) last issued 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 the consensus estimate of $192.12 million. As a group, research analysts predict that PTC Therapeutics, Inc. will post -5.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PTCT shares. Robert W. Baird restated an “outperform” rating and set a $44.00 price objective on shares of PTC Therapeutics in a research report on Tuesday, October 8th. Bank of America lifted their target price on PTC Therapeutics from $25.00 to $32.00 and gave the stock an “underperform” rating in a report on Friday, June 21st. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $53.00 target price on shares of PTC Therapeutics in a report on Thursday, June 20th. Raymond James started coverage on PTC Therapeutics in a report on Thursday, October 10th. They issued a “market perform” rating for the company. Finally, Barclays lifted their target price on PTC Therapeutics from $25.00 to $31.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $40.08.

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.