VIRGINIA RETIREMENT SYSTEMS ET Al Invests $2.32 Million in PTC Therapeutics, Inc. $PTCT

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 28,450 shares of the biopharmaceutical company's stock, valued at approximately $2,321,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Thrivent Financial for Lutherans purchased a new position in shares of PTC Therapeutics during the 4th quarter worth approximately $4,191,000. Royce & Associates LP lifted its stake in PTC Therapeutics by 146.5% during the fourth quarter. Royce & Associates LP now owns 80,794 shares of the biopharmaceutical company's stock worth $6,137,000 after purchasing an additional 48,015 shares in the last quarter. Jefferies Financial Group Inc. lifted its stake in PTC Therapeutics by 4.7% during the fourth quarter. Jefferies Financial Group Inc. now owns 1,658,481 shares of the biopharmaceutical company's stock worth $125,978,000 after purchasing an additional 73,803 shares in the last quarter. Legal & General Group Plc boosted its position in shares of PTC Therapeutics by 51.8% during the fourth quarter. Legal & General Group Plc now owns 366,265 shares of the biopharmaceutical company's stock worth $27,821,000 after buying an additional 124,923 shares during the period. Finally, Castleark Management LLC purchased a new position in shares of PTC Therapeutics during the fourth quarter worth $7,357,000.

PTC Therapeutics Stock Performance

Shares of NASDAQ PTCT opened at $67.37 on Friday. PTC Therapeutics, Inc. has a fifty-two week low of $57.47 and a fifty-two week high of $90.87. The firm has a market capitalization of $5.62 billion, a PE ratio of -116.16, a price-to-earnings-growth ratio of 2.08 and a beta of 0.55. The stock's 50-day simple moving average is $74.70 and its 200-day simple moving average is $72.22.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last posted its earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.68. The firm had revenue of $360.52 million during the quarter, compared to analysts' expectations of $298.63 million. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 3.80%.The firm's revenue was up 101.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.83) earnings per share. On average, sell-side analysts forecast that PTC Therapeutics, Inc. will post 1.17 earnings per share for the current fiscal year.

Insider Activity at PTC Therapeutics

In related news, Director Michael Schmertzler sold 12,500 shares of the stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $72.94, for a total value of $911,750.00. Following the transaction, the director directly owned 1,349,094 shares of the company's stock, valued at $98,402,916.36. This trade represents a 0.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Mark Boulding sold 2,813 shares of PTC Therapeutics stock in a transaction on Monday, August 17th. The stock was sold at an average price of $72.57, for a total transaction of $204,139.41. Following the sale, the vice president owned 105,272 shares in the company, valued at $7,639,589.04. This represents a 2.60% decrease in their ownership of the stock. 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. Insiders have sold 196,566 shares of company stock valued at $16,090,679 in the last quarter. Company insiders own 5.30% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PTCT shares. Wells Fargo & Company boosted their price objective on PTC Therapeutics from $106.00 to $109.00 and gave the company an "overweight" rating in a report on Thursday, August 13th. Wall Street Zen cut shares of PTC Therapeutics from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 22nd. Royal Bank Of Canada lifted their price objective on shares of PTC Therapeutics from $82.00 to $85.00 and gave the company a "sector perform" rating in a report on Tuesday, July 7th. Morgan Stanley upped their target price on shares of PTC Therapeutics from $93.00 to $104.00 and gave the stock an "overweight" rating in a research note on Friday, July 31st. Finally, Cantor Fitzgerald increased their target price on shares of PTC Therapeutics from $124.00 to $130.00 and gave the stock an "overweight" rating in a report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $98.55.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for rare diseases. The company uses technologies involving RNA biology, gene therapy and small-molecule drug discovery to address conditions with limited treatment options, including rare neurological and metabolic disorders.

PTC's commercial portfolio has included Translarna (ataluren), an investigational treatment in some markets for Duchenne muscular dystrophy associated with a nonsense mutation, and Emflaza (deflazacort), a corticosteroid approved in the United States for Duchenne muscular dystrophy.

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