Edgestream Partners L.P. Makes New $418,000 Investment in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Edgestream Partners L.P. bought a new position in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The fund bought 8,196 shares of the biopharmaceutical company's stock, valued at approximately $418,000.

A number of other large investors have also added to or reduced their stakes in PTCT. Wealth Enhancement Advisory Services LLC bought a new stake in shares of PTC Therapeutics during the 1st quarter valued at $595,000. Allspring Global Investments Holdings LLC bought a new stake in shares of PTC Therapeutics during the 1st quarter valued at $524,000. Raymond James Financial Inc. bought a new stake in shares of PTC Therapeutics during the 4th quarter valued at $2,200,000. Natixis Advisors LLC bought a new stake in shares of PTC Therapeutics during the 4th quarter valued at $544,000. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of PTC Therapeutics by 49.2% during the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 46,894 shares of the biopharmaceutical company's stock valued at $2,117,000 after acquiring an additional 15,459 shares during the period.

PTC Therapeutics Trading Down 1.9%

Shares of NASDAQ:PTCT opened at $47.63 on Friday. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of 7.32 and a beta of 0.50. PTC Therapeutics, Inc. has a 12 month low of $29.02 and a 12 month high of $58.38. The firm's 50-day moving average is $48.83 and its 200 day moving average is $48.50.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported $10.04 EPS for the quarter, beating the consensus estimate of $0.85 by $9.19. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $437.16 million. PTC Therapeutics had a net margin of 33.56% and a negative return on equity of 78.56%. The firm's revenue was down 9.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.20) EPS. As a group, equities analysts forecast that PTC Therapeutics, Inc. will post -4.52 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, VP Mark Elliott Boulding sold 1,929 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $46.18, for a total transaction of $89,081.22. Following the transaction, the vice president directly owned 103,901 shares in the company, valued at approximately $4,798,148.18. This trade represents a 1.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Pierre Gravier sold 2,516 shares of the stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $49.46, for a total transaction of $124,441.36. Following the transaction, the chief financial officer owned 71,920 shares in the company, valued at approximately $3,557,163.20. This represents a 3.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,132 shares of company stock worth $390,825 in the last three months. Corporate insiders own 5.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Bank of America raised shares of PTC Therapeutics from a "neutral" rating to a "buy" rating and upped their target price for the stock from $55.00 to $68.00 in a report on Friday, May 9th. Royal Bank Of Canada upped their target price on shares of PTC Therapeutics from $57.00 to $58.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Citigroup raised shares of PTC Therapeutics from a "sell" rating to a "neutral" rating and dropped their target price for the stock from $50.00 to $40.00 in a report on Wednesday, May 7th. Cantor Fitzgerald dropped their target price on shares of PTC Therapeutics from $113.00 to $112.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. Finally, Wall Street Zen downgraded shares of PTC Therapeutics from a "strong-buy" rating to a "buy" rating in a report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $65.00.

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.

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