PTC Therapeutics, Inc. (NASDAQ:PTCT) Shares Acquired by Cowen AND Company LLC

Cowen AND Company LLC increased its position in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 0.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,756,469 shares of the biopharmaceutical company's stock after acquiring an additional 30,843 shares during the period. PTC Therapeutics makes up about 3.2% of Cowen AND Company LLC's investment portfolio, making the stock its 8th biggest position. Cowen AND Company LLC owned approximately 4.90% of PTC Therapeutics worth $114,873,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of PTCT. Victory Capital Management Inc. acquired a new stake in shares of PTC Therapeutics in the 4th quarter worth approximately $271,000. Los Angeles Capital Management LLC purchased a new stake in PTC Therapeutics in the 4th quarter valued at approximately $242,000. Charles Schwab Investment Management Inc. lifted its stake in PTC Therapeutics by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 610,918 shares of the biopharmaceutical company's stock valued at $16,837,000 after buying an additional 14,155 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in PTC Therapeutics by 263.3% in the 4th quarter. BNP Paribas Financial Markets now owns 371,580 shares of the biopharmaceutical company's stock valued at $10,241,000 after buying an additional 269,292 shares in the last quarter. Finally, Jump Financial LLC lifted its stake in PTC Therapeutics by 70.4% in the 4th quarter. Jump Financial LLC now owns 26,256 shares of the biopharmaceutical company's stock valued at $724,000 after buying an additional 10,846 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PTCT. Baird R W raised PTC Therapeutics to a "strong-buy" rating in a research note on Wednesday, September 4th. Jefferies Financial Group upped their target price on PTC Therapeutics from $35.00 to $46.00 and gave the company a "buy" rating in a research note on Monday, May 20th. Bank of America increased their price target on PTC Therapeutics from $25.00 to $32.00 and gave the stock an "underperform" rating in a research note on Friday, June 21st. Citigroup raised their price objective on PTC Therapeutics from $18.00 to $26.00 and gave the stock a "sell" rating in a report on Tuesday, May 21st. Finally, UBS Group started coverage on PTC Therapeutics in a research note on Monday, August 26th. They issued a "buy" rating and a $47.00 target price for the company. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, PTC Therapeutics has an average rating of "Hold" and an average target price of $37.13.

Insider Transactions at PTC Therapeutics

In other PTC Therapeutics news, CFO Pierre Gravier sold 2,269 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $34.02, for a total value of $77,191.38. Following the completion of the sale, the chief financial officer now owns 53,531 shares of the company's stock, valued at $1,821,124.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.50% of the company's stock.

PTC Therapeutics Price Performance

PTCT stock traded down $0.12 during midday trading on Monday, reaching $31.42. 456,373 shares of the company's stock traded hands, compared to its average volume of 868,735. PTC Therapeutics, Inc. has a fifty-two week low of $17.53 and a fifty-two week high of $41.27. The business has a 50-day moving average price of $32.95 and a two-hundred day moving average price of $32.10. The company has a market capitalization of $2.42 billion, a P/E ratio of -4.14 and a beta of 0.64.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.16) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($0.16). The company had revenue of $186.70 million for the quarter, compared to analyst estimates of $192.12 million. As a group, research analysts forecast that PTC Therapeutics, Inc. will post -5.09 earnings per share for the current fiscal year.

PTC Therapeutics Profile

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.