PTC Therapeutics, Inc. (PTCT) Stake Raised by Alps Advisors Inc.

Alps Advisors Inc. increased its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 30.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,762 shares of the biopharmaceutical company’s stock after purchasing an additional 9,571 shares during the period. Alps Advisors Inc. owned 0.10% of PTC Therapeutics worth $816,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Northern Trust Corp grew its position in shares of PTC Therapeutics by 8.5% in the second quarter. Northern Trust Corp now owns 615,096 shares of the biopharmaceutical company’s stock valued at $11,275,000 after purchasing an additional 48,308 shares during the period. Oppenheimer & Co. Inc. grew its position in shares of PTC Therapeutics by 75.1% in the second quarter. Oppenheimer & Co. Inc. now owns 42,593 shares of the biopharmaceutical company’s stock valued at $781,000 after purchasing an additional 18,273 shares during the period. New York State Common Retirement Fund grew its position in shares of PTC Therapeutics by 56.3% in the second quarter. New York State Common Retirement Fund now owns 50,650 shares of the biopharmaceutical company’s stock valued at $928,000 after purchasing an additional 18,249 shares during the period. Nomura Holdings Inc. grew its position in shares of PTC Therapeutics by 28.7% in the second quarter. Nomura Holdings Inc. now owns 50,672 shares of the biopharmaceutical company’s stock valued at $928,000 after purchasing an additional 11,300 shares during the period. Finally, American International Group Inc. grew its position in shares of PTC Therapeutics by 7.1% in the first quarter. American International Group Inc. now owns 20,480 shares of the biopharmaceutical company’s stock valued at $202,000 after purchasing an additional 1,355 shares during the period. 78.53% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have issued reports on the company. ValuEngine downgraded PTC Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, September 7th. Barclays PLC reissued a “hold” rating and set a $22.00 price target on shares of PTC Therapeutics in a research report on Friday, September 8th. Zacks Investment Research raised PTC Therapeutics from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research report on Wednesday, August 30th. BidaskClub downgraded PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 4th. Finally, J P Morgan Chase & Co downgraded PTC Therapeutics from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $23.00 to $15.00 in a research report on Monday, October 9th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $18.75.

PTC Therapeutics, Inc. (NASDAQ PTCT) opened at $15.53 on Tuesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.97 and a current ratio of 3.08. PTC Therapeutics, Inc. has a one year low of $8.12 and a one year high of $22.00.

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PTC Therapeutics Profile

PTC Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the discovery, development and commercialization of medicines using its expertise in ribonucleic acid (RNA) biology. Its product pipeline includes Ataluren (Translarna), PTC596 and RG7916. Its product candidate, ataluren, is an orally administered small-molecule compound for the treatment of patients with genetic disorders due to a nonsense mutation.

Institutional Ownership by Quarter for PTC Therapeutics (NASDAQ:PTCT)

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