Oregon Public Employees Retirement Fund Invests $1.39 Million in PTC Therapeutics, Inc. $PTCT

Key Points

• Oregon Public Employees Retirement Fund opened a new position in PTC Therapeutics, buying 18,322 shares worth about $1.39 million in the fourth quarter.
• Several other major institutions also increased or initiated stakes in PTCT, including Vanguard, State Street, UBS, SG Americas, and Jefferies, signaling broad institutional interest.
• PTC Therapeutics beat earnings expectations in its latest quarter, reporting EPS of -$0.03 versus estimates of -$0.45 and revenue of $272.55 million, up 43.5% year over year.

Oregon Public Employees Retirement Fund bought a new position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 18,322 shares of the biopharmaceutical company's stock, valued at approximately $1,392,000.

A number of other large investors have also modified their holdings of PTCT. Jefferies Financial Group Inc. purchased a new position in shares of PTC Therapeutics during the 3rd quarter worth approximately $97,252,000. SG Americas Securities LLC raised its stake in shares of PTC Therapeutics by 587.5% during the 4th quarter. SG Americas Securities LLC now owns 894,461 shares of the biopharmaceutical company's stock worth $67,943,000 after buying an additional 764,364 shares in the last quarter. State Street Corp raised its stake in shares of PTC Therapeutics by 22.1% during the 2nd quarter. State Street Corp now owns 2,996,454 shares of the biopharmaceutical company's stock worth $146,347,000 after buying an additional 541,558 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of PTC Therapeutics by 6.2% in the 4th quarter. Vanguard Group Inc. now owns 8,803,203 shares of the biopharmaceutical company's stock worth $668,691,000 after acquiring an additional 514,204 shares during the period. Finally, UBS Group AG grew its holdings in shares of PTC Therapeutics by 113.3% in the 4th quarter. UBS Group AG now owns 964,658 shares of the biopharmaceutical company's stock worth $73,275,000 after acquiring an additional 512,449 shares during the period.

Analyst Ratings Changes

A number of research firms recently weighed in on PTCT. Wells Fargo & Company upped their price target on PTC Therapeutics from $86.00 to $95.00 and gave the stock an "overweight" rating in a report on Friday, May 8th. Barclays restated an "overweight" rating and issued a $120.00 price target on shares of PTC Therapeutics in a report on Monday, February 23rd. Weiss Ratings cut PTC Therapeutics from a "hold (c-)" rating to a "sell (d)" rating in a report on Monday, May 11th. Morgan Stanley restated an "overweight" rating and issued a $94.00 price target on shares of PTC Therapeutics in a report on Friday, May 8th. Finally, Wall Street Zen cut PTC Therapeutics from a "buy" rating to a "hold" rating in a report on Saturday, February 21st. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $88.36.

PTC Therapeutics Price Performance

PTCT opened at $71.47 on Monday. The stock's 50 day simple moving average is $68.57 and its 200 day simple moving average is $72.36. The stock has a market cap of $5.93 billion, a P/E ratio of -30.67, a P/E/G ratio of 13.33 and a beta of 0.53. PTC Therapeutics, Inc. has a 1-year low of $43.17 and a 1-year high of $87.50.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last announced its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) EPS for the quarter, beating analysts' consensus estimates of ($0.45) by $0.42. The firm had revenue of $272.55 million for the quarter, compared to analysts' expectations of $217.42 million. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 22.58%.PTC Therapeutics's quarterly revenue was up 43.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $10.04 EPS. Research analysts expect that PTC Therapeutics, Inc. will post 0.19 EPS for the current fiscal year.

Insider Activity

In other PTC Therapeutics news, insider Neil Gregory Almstead sold 52,003 shares of the stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $69.04, for a total transaction of $3,590,287.12. Following the sale, the insider owned 60,137 shares in the company, valued at approximately $4,151,858.48. This represents a 46.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Lee Scott Golden sold 829 shares of the stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $67.99, for a total value of $56,363.71. Following the sale, the executive vice president owned 79,115 shares in the company, valued at approximately $5,379,028.85. This trade represents a 1.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 142,604 shares of company stock worth $9,831,302 in the last quarter. 5.50% of the stock is currently owned by corporate insiders.

About PTC Therapeutics

PTC Therapeutics, Inc is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule and biologic therapies for the treatment of rare genetic disorders. Since its founding in 1998, PTC has dedicated its efforts to addressing high unmet medical needs by targeting underlying genetic causes of disease. The company's research platform emphasizes mechanisms such as nonsense suppression and RNA modulation, enabling the development of novel treatments for conditions with limited therapeutic options.

Among PTC's approved products is Translarna (ataluren), a first-in-class therapy designed to treat nonsense mutation Duchenne muscular dystrophy in select markets.

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