Capital Fund Management S.A. Invests $780,000 in PTC Therapeutics, Inc. (PTCT) Stock
Capital Fund Management S.A. acquired a new stake in PTC Therapeutics, Inc. (NASDAQ:PTCT) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 16,600 shares of the biopharmaceutical company’s stock, valued at approximately $780,000.
Other hedge funds have also added to or reduced their stakes in the company. Quantbot Technologies LP raised its holdings in PTC Therapeutics by 871.2% in the 3rd quarter. Quantbot Technologies LP now owns 2,729 shares of the biopharmaceutical company’s stock valued at $128,000 after acquiring an additional 2,448 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in PTC Therapeutics in the 2nd quarter valued at about $137,000. Lourd Capital LLC acquired a new stake in PTC Therapeutics in the 3rd quarter valued at about $202,000. Xact Kapitalforvaltning AB acquired a new stake in PTC Therapeutics in the 2nd quarter valued at about $216,000. Finally, Quantitative Systematic Strategies LLC acquired a new stake in PTC Therapeutics in the 2nd quarter valued at about $218,000. Institutional investors own 96.37% of the company’s stock.
A number of analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of PTC Therapeutics from a “hold” rating to a “strong sell” rating in a report on Saturday, November 10th. Barclays cut their price target on shares of PTC Therapeutics from $43.00 to $40.00 and set an “equal weight” rating for the company in a report on Tuesday, November 6th. William Blair restated a “buy” rating on shares of PTC Therapeutics in a report on Tuesday, November 6th. Royal Bank of Canada cut their price target on shares of PTC Therapeutics from $51.00 to $46.00 and set an “outperform” rating for the company in a report on Tuesday, November 6th. Finally, ValuEngine downgraded shares of PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. PTC Therapeutics currently has a consensus rating of “Buy” and an average target price of $45.63.
PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings results on Monday, November 5th. The biopharmaceutical company reported ($1.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.40) by ($0.66). The firm had revenue of $53.59 million for the quarter, compared to analyst estimates of $70.56 million. PTC Therapeutics had a negative return on equity of 27.95% and a negative net margin of 30.61%. The firm’s quarterly revenue was up 28.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.82) EPS. On average, sell-side analysts expect that PTC Therapeutics, Inc. will post -1.92 EPS for the current fiscal year.
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About PTC Therapeutics
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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