Public Employees Retirement System of Ohio Sells 17,657 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

Public Employees Retirement System of Ohio reduced its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 76.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,542 shares of the biopharmaceutical company's stock after selling 17,657 shares during the period. Public Employees Retirement System of Ohio's holdings in PTC Therapeutics were worth $250,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PTCT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of PTC Therapeutics by 0.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,681 shares of the biopharmaceutical company's stock valued at $2,967,000 after buying an additional 205 shares during the last quarter. Arizona State Retirement System increased its position in PTC Therapeutics by 1.1% in the 4th quarter. Arizona State Retirement System now owns 20,095 shares of the biopharmaceutical company's stock valued at $907,000 after acquiring an additional 219 shares in the last quarter. Choreo LLC raised its stake in shares of PTC Therapeutics by 2.0% in the fourth quarter. Choreo LLC now owns 11,961 shares of the biopharmaceutical company's stock worth $541,000 after acquiring an additional 240 shares during the last quarter. Summit Investment Advisors Inc. lifted its position in shares of PTC Therapeutics by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 7,968 shares of the biopharmaceutical company's stock worth $360,000 after purchasing an additional 253 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in shares of PTC Therapeutics by 78.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company's stock worth $28,000 after purchasing an additional 270 shares in the last quarter.

Analyst Upgrades and Downgrades

PTCT has been the subject of a number of research reports. Royal Bank of Canada raised their price target on shares of PTC Therapeutics from $57.00 to $58.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Scotiabank initiated coverage on PTC Therapeutics in a research note on Friday, March 7th. They issued a "sector perform" rating and a $55.00 target price for the company. Wall Street Zen downgraded PTC Therapeutics from a "strong-buy" rating to a "buy" rating in a research report on Friday, May 16th. Cantor Fitzgerald cut their price target on PTC Therapeutics from $113.00 to $112.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. Finally, Bank of America upgraded PTC Therapeutics from a "neutral" rating to a "buy" rating and raised their price target for the company from $55.00 to $68.00 in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $63.75.

Insider Buying and Selling

In related news, EVP Lee Scott Golden sold 897 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $46.95, for a total value of $42,114.15. Following the sale, the executive vice president now directly owns 75,997 shares of the company's stock, valued at approximately $3,568,059.15. The trade was a 1.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Mark Elliott Boulding sold 883 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $46.02, for a total transaction of $40,635.66. Following the completion of the transaction, the vice president now directly owns 103,901 shares of the company's stock, valued at approximately $4,781,524.02. The trade was a 0.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,034 shares of company stock valued at $1,405,767. 5.50% of the stock is owned by company insiders.

PTC Therapeutics Trading Up 1.2%

PTC Therapeutics stock opened at $51.73 on Friday. The firm has a market capitalization of $4.10 billion, a P/E ratio of -8.71 and a beta of 0.52. The business has a 50-day moving average of $46.22 and a 200-day moving average of $47.74. PTC Therapeutics, Inc. has a 1 year low of $28.72 and a 1 year high of $58.38.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported $10.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $9.19. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $437.16 million. During the same quarter in the prior year, the firm posted ($1.20) EPS. The firm's revenue for the quarter was down 9.6% compared to the same quarter last year. Research analysts anticipate that PTC Therapeutics, Inc. will post -4.52 EPS for the current fiscal 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.

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