PTC Therapeutics, Inc. (NASDAQ:PTCT) Shares Purchased by Headlands Technologies LLC

Headlands Technologies LLC boosted its position in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 83.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,611 shares of the biopharmaceutical company’s stock after acquiring an additional 3,002 shares during the quarter. Headlands Technologies LLC’s holdings in PTC Therapeutics were worth $202,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Choreo LLC raised its holdings in PTC Therapeutics by 4.1% during the second quarter. Choreo LLC now owns 11,426 shares of the biopharmaceutical company’s stock worth $356,000 after purchasing an additional 452 shares in the last quarter. Arizona State Retirement System raised its holdings in PTC Therapeutics by 3.4% during the second quarter. Arizona State Retirement System now owns 19,301 shares of the biopharmaceutical company’s stock worth $590,000 after purchasing an additional 636 shares in the last quarter. Diversified Trust Co raised its holdings in PTC Therapeutics by 5.6% during the second quarter. Diversified Trust Co now owns 15,317 shares of the biopharmaceutical company’s stock worth $468,000 after purchasing an additional 818 shares in the last quarter. ProShare Advisors LLC raised its holdings in PTC Therapeutics by 9.3% during the first quarter. ProShare Advisors LLC now owns 18,313 shares of the biopharmaceutical company’s stock worth $533,000 after purchasing an additional 1,564 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in PTC Therapeutics during the first quarter worth approximately $46,000.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PTCT. Bank of America raised their target price on shares of PTC Therapeutics from $25.00 to $32.00 and gave the stock an “underperform” rating in a research report on Friday, June 21st. The Goldman Sachs Group raised their target price on shares of PTC Therapeutics from $18.00 to $32.00 and gave the stock a “sell” rating in a research report on Tuesday, May 28th. Baird R W upgraded shares of PTC Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 4th. Citigroup raised their target price on shares of PTC Therapeutics from $18.00 to $26.00 and gave the stock a “sell” rating in a research report on Tuesday, May 21st. Finally, Jefferies Financial Group raised their target price on shares of PTC Therapeutics from $35.00 to $46.00 and gave the stock a “buy” rating in a research report on Monday, May 20th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $37.13.

PTC Therapeutics Stock Performance

Shares of NASDAQ PTCT opened at $33.99 on Friday. The firm has a market capitalization of $2.61 billion, a P/E ratio of -4.43 and a beta of 0.64. PTC Therapeutics, Inc. has a one year low of $17.53 and a one year high of $40.69. The company’s fifty day moving average is $33.10 and its two-hundred day moving average is $32.24.

PTC Therapeutics (NASDAQ:PTCT) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.16) EPS for the quarter, missing the consensus estimate of ($1.00) by ($0.16). The business had revenue of $186.70 million for the quarter, compared to the consensus estimate of $192.12 million. On average, sell-side analysts forecast that PTC Therapeutics, Inc. will post -5.09 earnings per share for the current fiscal year.

Insider Transactions at PTC Therapeutics

In other news, CFO Pierre Gravier sold 2,269 shares of PTC Therapeutics stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $34.02, for a total transaction of $77,191.38. Following the completion of the transaction, the chief financial officer now owns 53,531 shares of the company’s stock, valued at approximately $1,821,124.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.50% of the company’s stock.

About PTC Therapeutics

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.