PTC Therapeutics, Inc. $PTCT Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lowered its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 15.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 42,421 shares of the biopharmaceutical company’s stock after selling 7,515 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in PTC Therapeutics were worth $2,890,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allworth Financial LP boosted its holdings in PTC Therapeutics by 63.8% in the fourth quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company’s stock valued at $48,000 after purchasing an additional 247 shares in the last quarter. Measured Wealth Private Client Group LLC raised its holdings in PTC Therapeutics by 5.6% during the fourth quarter. Measured Wealth Private Client Group LLC now owns 4,963 shares of the biopharmaceutical company’s stock worth $377,000 after purchasing an additional 265 shares in the last quarter. Evolve Private Wealth LLC raised its holdings in PTC Therapeutics by 5.2% during the first quarter. Evolve Private Wealth LLC now owns 6,122 shares of the biopharmaceutical company’s stock worth $417,000 after purchasing an additional 305 shares in the last quarter. IFP Advisors Inc lifted its position in shares of PTC Therapeutics by 68.1% during the 3rd quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock worth $47,000 after buying an additional 310 shares during the last quarter. Finally, New York State Teachers Retirement System lifted its position in shares of PTC Therapeutics by 0.7% during the 1st quarter. New York State Teachers Retirement System now owns 44,953 shares of the biopharmaceutical company’s stock worth $3,063,000 after buying an additional 316 shares during the last quarter.

Analyst Ratings Changes

A number of research analysts recently commented on PTCT shares. Raymond James Financial began coverage on shares of PTC Therapeutics in a research report on Friday, April 10th. They issued an “outperform” rating and a $108.00 target price on the stock. Royal Bank Of Canada boosted their price target on shares of PTC Therapeutics from $82.00 to $85.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 7th. Citigroup upgraded shares of PTC Therapeutics from a “neutral” rating to a “buy” rating and upped their price objective for the company from $75.00 to $108.00 in a research note on Tuesday, June 9th. Wells Fargo & Company raised their price objective on PTC Therapeutics from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Finally, Cantor Fitzgerald lifted their target price on PTC Therapeutics from $124.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, PTC Therapeutics has an average rating of “Moderate Buy” and an average price target of $92.43.

PTC Therapeutics Price Performance

Shares of NASDAQ:PTCT opened at $78.59 on Monday. The stock has a market cap of $6.52 billion, a P/E ratio of -33.73, a P/E/G ratio of 4.72 and a beta of 0.53. The firm has a fifty day moving average price of $76.77 and a 200 day moving average price of $72.76. PTC Therapeutics, Inc. has a 1-year low of $43.17 and a 1-year high of $90.87.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.42. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. The company had revenue of $272.55 million for the quarter, compared to analyst estimates of $217.42 million. During the same period in the previous year, the business posted $10.04 earnings per share. PTC Therapeutics’s quarterly revenue was up 43.5% on a year-over-year basis. Sell-side analysts expect that PTC Therapeutics, Inc. will post 0.6 EPS for the current fiscal year.

Insider Activity

In other PTC Therapeutics news, insider Eric Pauwels sold 21,277 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $75.00, for a total transaction of $1,595,775.00. Following the completion of the sale, the insider directly owned 73,411 shares of the company’s stock, valued at $5,505,825. This represents a 22.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mary L. Smith sold 15,834 shares of the stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $90.00, for a total value of $1,425,060.00. Following the sale, the director directly owned 21,813 shares of the company’s stock, valued at $1,963,170. The trade was a 42.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 201,512 shares of company stock valued at $16,550,087. Insiders own 5.50% of the company’s stock.

PTC Therapeutics Profile

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.