Simplex Trading adds PTC Therapeutics (PTCT) to its portfolio

PTC Therapeutics (PTCT) : Simplex Trading added new position in PTC Therapeutics during the most recent quarter end. The investment management firm now holds 120,210 shares of PTC Therapeutics which is valued at $1,603,601 , the company said in a statement filed on Oct 7, 2016 with the SEC.PTC Therapeutics makes up approximately 0.21% of Simplex Trading’s portfolio.

Other Hedge Funds, Including , Bnp Paribas Arbitrage Sa boosted its stake in PTCT in the latest quarter, The investment management firm added 1,406 additional shares and now holds a total of 2,603 shares of PTC Therapeutics which is valued at $35,687.

PTC Therapeutics closed down -0.25 points or -1.84% at $13.34 with 9,50,176 shares getting traded on Friday. Post opening the session at $13.52, the shares hit an intraday low of $13.0701 and an intraday high of $13.96 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, PTC Therapeutics reported $-1.14 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $-1.24. The company had revenue of $15.40 million for the quarter, compared to analysts expectations of $14.92 million. The company’s revenue was up 150.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-1.14 EPS.

Many Wall Street Analysts have commented on PTC Therapeutics. Shares were Reiterated by Wedbush on Jul 26, 2016 to “Neutral” and Lowered the Price Target to $ 10 from a previous price target of $12 .PTC Therapeutics was Downgraded by Credit Suisse to ” Neutral” on Jul 26, 2016.

PTC Therapeutics Inc. is a biopharmaceutical company focused on the discovery development and commercialization of orally administered small molecule therapeutics that target post-transcriptional control processes. The Company’s internally discovered pipeline addresses multiple therapeutic areas including rare disorders oncology and infectious diseases. The Company’s lead product Translarna (ataluren) is used for the treatment of genetic disorders due to a nonsense mutation in ambulatory patients aged five years and older. Ataluren is in clinical development for the treatment of Duchenne muscular dystrophy caused by a nonsense mutation (nmDMD) and cystic fibrosis caused by a nonsense mutation (nmCF).

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