BlueMountain Capital Management LLC Grows Stake in PTC Therapeutics, Inc. (PTCT)

BlueMountain Capital Management LLC grew its position in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 25.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 26,402 shares of the biopharmaceutical company’s stock after buying an additional 5,355 shares during the period. BlueMountain Capital Management LLC’s holdings in PTC Therapeutics were worth $891,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Xact Kapitalforvaltning AB acquired a new stake in shares of PTC Therapeutics in the 2nd quarter valued at $216,000. Hussman Strategic Advisors Inc. acquired a new stake in shares of PTC Therapeutics in the 2nd quarter valued at $1,686,000. ClariVest Asset Management LLC acquired a new stake in shares of PTC Therapeutics in the 2nd quarter valued at $2,079,000. State of Wisconsin Investment Board increased its stake in shares of PTC Therapeutics by 68.3% in the 1st quarter. State of Wisconsin Investment Board now owns 40,400 shares of the biopharmaceutical company’s stock valued at $1,093,000 after buying an additional 16,400 shares during the period. Finally, Fox Run Management L.L.C. acquired a new stake in shares of PTC Therapeutics in the 2nd quarter valued at $405,000. 85.48% of the stock is owned by institutional investors.

Shares of PTC Therapeutics stock opened at $47.77 on Friday. The company has a quick ratio of 4.18, a current ratio of 4.34 and a debt-to-equity ratio of 0.55. PTC Therapeutics, Inc. has a 12 month low of $14.56 and a 12 month high of $52.95. The firm has a market cap of $2.36 billion, a P/E ratio of -23.65 and a beta of 1.95.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data on Tuesday, August 7th. The biopharmaceutical company reported ($0.21) EPS for the quarter, topping 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 business had revenue of $68.74 million during the quarter, compared to analysts’ expectations of $69.83 million. equities research analysts anticipate that PTC Therapeutics, Inc. will post -1.48 earnings per share for the current fiscal year.

In related news, EVP Neil Gregory Almstead sold 20,000 shares of PTC Therapeutics stock in a transaction on Tuesday, June 19th. The stock was sold at an average price of $48.31, for a total transaction of $966,200.00. Following the completion of the sale, the executive vice president now directly owns 37,154 shares of the company’s stock, valued at $1,794,909.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 7.50% of the stock is owned by insiders.

Several equities research analysts have recently commented on PTCT shares. Citigroup reissued a “buy” rating and issued a $50.00 target price (up from $35.00) on shares of PTC Therapeutics in a research note on Tuesday, July 24th. ValuEngine raised PTC Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 10th. Bank of America lifted their target price on PTC Therapeutics from $27.00 to $31.00 and gave the company an “underperform” rating in a research note on Tuesday, July 31st. Credit Suisse Group lifted their price objective on PTC Therapeutics from $49.00 to $53.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 5th. Finally, Barclays lifted their price objective on PTC Therapeutics from $40.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $33.43.

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

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