PTC Therapeutics, Inc. Can’t Burn Your Long Portfolio. Option Traders are Bullish

 PTC Therapeutics, Inc. Can't Burn Your Long Portfolio. Option Traders are Bullish

In today’s session PTC Therapeutics, Inc. (PTCT) registered an unusually high (809) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the October, 2016 call, expecting serious PTCT increase. With 809 contracts traded and 43834 open interest for the Oct, 16 contract, it seems this is a quite bullish bet. The option with symbol: PTCT161021C00013000 closed last at: $2 or 233.3% up. The stock decreased 0.22% or $0.03 during the last trading session, hitting $13.33. About 1.14M shares traded hands. PTC Therapeutics, Inc. (NASDAQ:PTCT) has risen 140.72% since March 1, 2016 and is uptrending. It has outperformed by 131.48% the S&P500.

Analysts await PTC Therapeutics, Inc. (NASDAQ:PTCT) to report earnings on November, 14. They expect $-1.19 earnings per share, up 6.30% or $0.08 from last year’s $-1.27 per share. After $-1.14 actual earnings per share reported by PTC Therapeutics, Inc. for the previous quarter, Wall Street now forecasts 4.39% negative EPS growth.

PTC Therapeutics, Inc. (NASDAQ:PTCT) Ratings Coverage

Out of 7 analysts covering PTC Therapeutics (NASDAQ:PTCT), 2 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 29% are positive. $135 is the highest target while $6 is the lowest. The $48.71 average target is 265.42% above today’s ($13.33) stock price. PTC Therapeutics has been the topic of 16 analyst reports since July 31, 2015 according to StockzIntelligence Inc. Wedbush maintained PTC Therapeutics, Inc. (NASDAQ:PTCT) rating on Wednesday, February 24. Wedbush has “Outperform” rating and $27 price target. RBC Capital Markets downgraded the shares of PTCT in a report on Wednesday, February 24 to “Sector Perform” rating. The stock has “Underperform” rating given by Jefferies on Wednesday, November 25. The firm earned “Neutral” rating on Wednesday, February 24 by Citigroup. JP Morgan downgraded the shares of PTCT in a report on Tuesday, February 23 to “Neutral” rating. The stock of PTC Therapeutics, Inc. (NASDAQ:PTCT) earned “Outperform” rating by RBC Capital Markets on Friday, October 16. The company was upgraded on Wednesday, February 24 by Jefferies. The firm earned “Outperform” rating on Friday, July 31 by RBC Capital Markets. Citigroup initiated PTC Therapeutics, Inc. (NASDAQ:PTCT) on Tuesday, August 25 with “Buy” rating. As per Wednesday, January 20, the company rating was initiated by Credit Suisse.

Insitutional Activity: The institutional sentiment increased to 1.23 in Q2 2016. Its up 0.40, from 0.83 in 2016Q1. The ratio is positive, as 17 funds sold all PTC Therapeutics, Inc. shares owned while 30 reduced positions. 17 funds bought stakes while 41 increased positions. They now own 28.13 million shares or 3.23% less from 29.06 million shares in 2016Q1.
Citigroup Incorporated, a New York-based fund reported 15,625 shares. Tiaa Cref Invest Management Ltd, a New York-based fund reported 131,424 shares. Camber Capital Mngmt Ltd holds 0.51% of its portfolio in PTC Therapeutics, Inc. (NASDAQ:PTCT) for 1.50 million shares. South Dakota Investment Council has invested 0.03% of its portfolio in PTC Therapeutics, Inc. (NASDAQ:PTCT). State Street Corporation last reported 582,348 shares in the company. Cornerstone Cap Limited Liability Corp reported 22,600 shares or 0% of all its holdings. New York State Common Retirement Fund holds 0% of its portfolio in PTC Therapeutics, Inc. (NASDAQ:PTCT) for 32,400 shares. The Israel-based Sphera Funds Management Ltd has invested 0.32% in PTC Therapeutics, Inc. (NASDAQ:PTCT). Moreover, Cornerstone has 0% invested in PTC Therapeutics, Inc. (NASDAQ:PTCT) for 100 shares. Swiss Natl Bank last reported 50,065 shares in the company. Fmr Limited Liability Company holds 1.14 million shares or 0% of its portfolio. Blackrock Institutional Com Na last reported 812,757 shares in the company. Panagora Asset Mngmt holds 983 shares or 0% of its portfolio. Blackrock Fund Advsr holds 0% or 1.30M shares in its portfolio. Federated Pa has 0% invested in the company for 16,868 shares.

PTC Therapeutics, Inc. is a biopharmaceutical firm focused on the discovery, development and commercialization of orally administered, small molecule therapeutics that focus on post-transcriptional control processes. The company has a market cap of $435.34 million. The Company’s lead product, Translarna , is used for the treatment of nonsense mutation Duchenne muscular dystrophy (nmDMD) in ambulatory patients with age of over five years and older. It currently has negative earnings. The Company’s programs include Translarna for nonsense mutation cystic fibrosis (nmCF), Translarna for mucopolysaccharidosis type I caused by nonsense mutation (nmMPS I), Translarna for nonsense mutation aniridia, Translarna for nonsense mutation Dravet syndrome/CDKL5, Spinal muscular atrophy (SMA) in collaboration with Spinal Muscular Atrophy Foundation (SMA Foundation) and F.

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