Canton Hathaway LLC lifted its stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 57.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,100 shares of the biopharmaceutical company’s stock after purchasing an additional 400 shares during the period. Canton Hathaway LLC’s holdings in PTC Therapeutics were worth $38,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in PTC Therapeutics by 39.4% in the third quarter. Vanguard Group Inc. now owns 4,458,295 shares of the biopharmaceutical company’s stock valued at $209,539,000 after acquiring an additional 1,261,166 shares during the last quarter. Vanguard Group Inc lifted its holdings in PTC Therapeutics by 39.4% in the third quarter. Vanguard Group Inc now owns 4,458,295 shares of the biopharmaceutical company’s stock valued at $209,539,000 after acquiring an additional 1,261,166 shares during the last quarter. BlackRock Inc. raised its position in PTC Therapeutics by 5.4% in the third quarter. BlackRock Inc. now owns 3,639,709 shares of the biopharmaceutical company’s stock valued at $171,067,000 after purchasing an additional 187,548 shares during the period. Franklin Resources Inc. purchased a new stake in PTC Therapeutics in the third quarter valued at approximately $123,407,000. Finally, Northern Trust Corp raised its position in PTC Therapeutics by 10.8% in the second quarter. Northern Trust Corp now owns 736,892 shares of the biopharmaceutical company’s stock valued at $24,855,000 after purchasing an additional 71,756 shares during the period. Institutional investors and hedge funds own 81.53% of the company’s stock.
Get PTC Therapeutics alerts:A number of brokerages have issued reports on PTCT. William Blair reissued a “buy” rating on shares of PTC Therapeutics in a research report on Monday, January 7th. Royal Bank of Canada cut their target price on PTC Therapeutics from $51.00 to $46.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 6th. Zacks Investment Research raised PTC Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 9th. ValuEngine lowered PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, January 29th. Finally, Credit Suisse Group set a $51.00 target price on PTC Therapeutics and gave the company a “buy” rating in a research report on Tuesday, January 29th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $45.13.
PTC Therapeutics stock opened at $29.68 on Monday. PTC Therapeutics, Inc. has a twelve month low of $22.80 and a twelve month high of $52.95. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.61 and a current ratio of 2.73. The firm has a market cap of $1.70 billion, a PE ratio of -14.69 and a beta of 2.11.
In other PTC Therapeutics news, Director Michael Schmertzler bought 66,225 shares of the company’s stock in a transaction that occurred on Friday, January 25th. The shares were purchased at an average price of $30.20 per share, with a total value of $1,999,995.00. Following the completion of the acquisition, the director now directly owns 86,766 shares of the company’s stock, valued at approximately $2,620,333.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Stuart Walter Peltz sold 2,512 shares of the stock in a transaction on Monday, January 7th. The shares were sold at an average price of $34.75, for a total value of $87,292.00. Following the completion of the transaction, the chief executive officer now directly owns 24,882 shares in the company, valued at approximately $864,649.50. The disclosure for this sale can be found here. Insiders have sold 2,892 shares of company stock worth $100,497 in the last ninety days. Corporate insiders own 7.50% of the company’s stock.
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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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