Amalgamated Bank bought a new position in PTC Therapeutics, Inc. (NASDAQ:PTCT) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,896 shares of the biopharmaceutical company’s stock, valued at approximately $233,000.
A number of other institutional investors have also recently made changes to their positions in the business. Boston Advisors LLC purchased a new stake in PTC Therapeutics in the 2nd quarter worth approximately $847,000. Fox Run Management L.L.C. purchased a new stake in PTC Therapeutics in the 2nd quarter worth approximately $405,000. Xact Kapitalforvaltning AB purchased a new stake in PTC Therapeutics in the 2nd quarter worth approximately $216,000. Cibc Bank USA purchased a new stake in PTC Therapeutics in the 2nd quarter worth approximately $549,000. Finally, Principal Financial Group Inc. boosted its position in PTC Therapeutics by 15.1% in the 1st quarter. Principal Financial Group Inc. now owns 28,171 shares of the biopharmaceutical company’s stock worth $762,000 after purchasing an additional 3,704 shares in the last quarter. Institutional investors and hedge funds own 91.98% of the company’s stock.
In related news, EVP Neil Gregory Almstead sold 20,000 shares of the stock in a transaction on Tuesday, June 19th. The stock was sold at an average price of $48.31, for a total value of $966,200.00. Following the completion of the transaction, the executive vice president now directly owns 37,154 shares of the company’s stock, valued at approximately $1,794,909.74. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 7.50% of the stock is currently owned by corporate insiders.
PTC Therapeutics (NASDAQ:PTCT) last announced its earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.15. PTC Therapeutics had a negative return on equity of 27.41% and a negative net margin of 25.03%. The firm had revenue of $68.74 million for the quarter, compared to analyst estimates of $69.83 million. sell-side analysts expect that PTC Therapeutics, Inc. will post -1.48 earnings per share for the current year.
Several equities research analysts have commented on PTCT shares. Royal Bank of Canada upgraded PTC Therapeutics from a “sector perform” rating to an “outperform” rating and set a $11.00 price objective on the stock in a research report on Monday, June 18th. ValuEngine upgraded PTC Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Monday, June 18th. William Blair upgraded PTC Therapeutics from a “market perform” rating to an “outperform” rating in a research report on Monday, June 18th. Credit Suisse Group started coverage on PTC Therapeutics in a research report on Thursday, July 19th. They set an “outperform” rating and a $49.00 target price on the stock. Finally, Barclays upgraded PTC Therapeutics from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, June 20th. One analyst has rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $32.86.
PTC Therapeutics Company Profile
PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines for the treatment of rare disorders. The company offers Translarna (ataluren) for the treatment of nonsense mutation Duchenne muscular dystrophy in ambulatory patients; and Emflaza (deflazacort) for treating Duchenne muscular dystrophy.
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