Pictet Asset Management Ltd. Acquires 109,206 Shares of PTC Therapeutics, Inc. (PTCT)
Pictet Asset Management Ltd. raised its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 38.0% in the 1st quarter, Holdings Channel reports. The fund owned 396,476 shares of the biopharmaceutical company’s stock after purchasing an additional 109,206 shares during the quarter. Pictet Asset Management Ltd.’s holdings in PTC Therapeutics were worth $14,923,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PTCT. NumerixS Investment Technologies Inc bought a new stake in shares of PTC Therapeutics in the 4th quarter valued at $32,000. Canton Hathaway LLC increased its holdings in PTC Therapeutics by 57.1% during the 4th quarter. Canton Hathaway LLC now owns 1,100 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 400 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in PTC Therapeutics by 34.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,732 shares of the biopharmaceutical company’s stock worth $94,000 after purchasing an additional 696 shares in the last quarter. US Bancorp DE increased its holdings in PTC Therapeutics by 9.3% during the 1st quarter. US Bancorp DE now owns 3,115 shares of the biopharmaceutical company’s stock worth $117,000 after purchasing an additional 264 shares in the last quarter. Finally, Smith Asset Management Group LP bought a new position in PTC Therapeutics during the 4th quarter worth about $184,000.
PTC Therapeutics stock opened at $39.95 on Tuesday. PTC Therapeutics, Inc. has a one year low of $27.53 and a one year high of $52.95. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.35 and a quick ratio of 3.24. The stock has a market cap of $2.34 billion, a PE ratio of -21.71 and a beta of 1.78.
A number of equities analysts have issued reports on the company. ValuEngine upgraded PTC Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Friday, May 10th. Zacks Investment Research cut PTC Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, May 8th. Cowen reiterated a “hold” rating on shares of PTC Therapeutics in a report on Thursday, May 2nd. Bank of America upgraded shares of PTC Therapeutics from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $43.00 to $49.00 in a research note on Monday, May 13th. Finally, Sanford C. Bernstein started coverage on shares of PTC Therapeutics in a research note on Thursday, April 11th. They set an “outperform” rating and a $48.00 price objective for the company. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. PTC Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $49.89.
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PTC Therapeutics Company 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) and Emflaza (deflazacort) for the treatment of nonsense mutation Duchenne muscular dystrophy in ambulatory patients.
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