Sector Gamma AS Has $4.70 Million Holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Sector Gamma AS grew its position in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 41.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 92,250 shares of the biopharmaceutical company’s stock after purchasing an additional 27,000 shares during the period. PTC Therapeutics comprises about 1.5% of Sector Gamma AS’s holdings, making the stock its 24th largest position. Sector Gamma AS’s holdings in PTC Therapeutics were worth $4,701,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of PTCT. Wells Fargo & Company MN increased its position in PTC Therapeutics by 43.1% in the 4th quarter. Wells Fargo & Company MN now owns 38,148 shares of the biopharmaceutical company’s stock worth $1,722,000 after purchasing an additional 11,499 shares during the last quarter. Invesco Ltd. increased its position in PTC Therapeutics by 107.0% in the 4th quarter. Invesco Ltd. now owns 111,391 shares of the biopharmaceutical company’s stock worth $5,028,000 after purchasing an additional 57,582 shares during the last quarter. Raymond James Financial Inc. acquired a new position in PTC Therapeutics in the 4th quarter worth about $2,200,000. Sterling Capital Management LLC increased its position in PTC Therapeutics by 424.4% in the 4th quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 522 shares during the last quarter. Finally, Summit Investment Advisors Inc. increased its position in PTC Therapeutics by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,968 shares of the biopharmaceutical company’s stock worth $360,000 after purchasing an additional 253 shares during the last quarter.

PTC Therapeutics Stock Up 1.1%

Shares of NASDAQ:PTCT opened at $48.70 on Friday. The business has a 50 day moving average price of $49.10 and a 200 day moving average price of $48.94. PTC Therapeutics, Inc. has a twelve month low of $30.41 and a twelve month high of $58.38. The company has a market cap of $3.87 billion, a price-to-earnings ratio of 6.99 and a beta of 0.54.

PTC Therapeutics (NASDAQ:PTCT) last announced its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.83) earnings per share for the quarter, beating the consensus estimate of ($1.07) by $0.24. PTC Therapeutics had a negative return on equity of 106.31% and a net margin of 35.65%. The firm had revenue of $178.88 million during the quarter, compared to the consensus estimate of $173.01 million. During the same quarter in the prior year, the company earned ($1.29) EPS. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. Analysts anticipate that PTC Therapeutics, Inc. will post -4.52 EPS for the current year.

Insider Buying and Selling

In other PTC Therapeutics news, CFO Pierre Gravier sold 2,516 shares of the firm’s stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $49.46, for a total value of $124,441.36. Following the completion of the sale, the chief financial officer owned 71,920 shares in the company, valued at approximately $3,557,163.20. This trade represents a 3.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew B. Klein sold 10,739 shares of the firm’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $51.74, for a total value of $555,635.86. Following the completion of the sale, the chief executive officer owned 337,767 shares of the company’s stock, valued at $17,476,064.58. This represents a 3.08% decrease in their position. The disclosure for this sale can be found here. 5.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Barclays upped their target price on PTC Therapeutics from $42.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 29th. Wall Street Zen downgraded PTC Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Saturday, August 9th. Cantor Fitzgerald upped their price target on PTC Therapeutics from $112.00 to $120.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Citigroup upped their price target on PTC Therapeutics from $40.00 to $50.00 and gave the stock a “neutral” rating in a research note on Monday, July 28th. Finally, Wells Fargo & Company upped their price target on PTC Therapeutics from $78.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, PTC Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $70.15.

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.