PTC Therapeutics, Inc. $PTCT Stock Holdings Lifted by Profund Advisors LLC

Profund Advisors LLC lifted its position in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 43.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 31,853 shares of the biopharmaceutical company’s stock after buying an additional 9,591 shares during the quarter. Profund Advisors LLC’s holdings in PTC Therapeutics were worth $2,420,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. WCM Investment Management LLC purchased a new position in shares of PTC Therapeutics in the third quarter worth approximately $8,919,000. Teachers Retirement System of The State of Kentucky grew its position in PTC Therapeutics by 86.9% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 40,858 shares of the biopharmaceutical company’s stock valued at $3,103,000 after purchasing an additional 19,000 shares in the last quarter. Sector Gamma AS grew its position in PTC Therapeutics by 28.0% during the third quarter. Sector Gamma AS now owns 118,112 shares of the biopharmaceutical company’s stock valued at $7,249,000 after purchasing an additional 25,862 shares in the last quarter. QRG Capital Management Inc. purchased a new position in PTC Therapeutics during the third quarter valued at approximately $2,090,000. Finally, Jefferies Financial Group Inc. purchased a new position in PTC Therapeutics during the third quarter valued at approximately $97,252,000.

PTC Therapeutics Stock Up 0.2%

NASDAQ PTCT opened at $70.31 on Wednesday. The company has a 50 day moving average price of $68.86 and a two-hundred day moving average price of $72.40. PTC Therapeutics, Inc. has a 12-month low of $43.17 and a 12-month high of $87.50. The stock has a market capitalization of $5.83 billion, a PE ratio of -30.18, a price-to-earnings-growth ratio of 13.08 and a beta of 0.53.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.42. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. The business had revenue of $272.55 million during the quarter, compared to analysts’ expectations of $217.42 million. During the same period in the previous year, the company earned $10.04 earnings per share. PTC Therapeutics’s revenue for the quarter was up 43.5% on a year-over-year basis. As a group, equities analysts anticipate that PTC Therapeutics, Inc. will post 0.19 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Matthew B. Klein sold 12,572 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $72.95, for a total value of $917,127.40. Following the completion of the sale, the chief executive officer directly owned 393,998 shares in the company, valued at approximately $28,742,154.10. The trade was a 3.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Lee Scott Golden sold 829 shares of the business’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $67.99, for a total transaction of $56,363.71. Following the completion of the sale, the executive vice president owned 79,115 shares of the company’s stock, valued at $5,379,028.85. The trade was a 1.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 118,041 shares of company stock valued at $8,135,739 in the last three months. Company insiders own 5.50% of the company’s stock.

Wall Street Analyst Weigh In

PTCT has been the topic of a number of research analyst reports. Barclays reaffirmed an “overweight” rating and set a $120.00 price objective on shares of PTC Therapeutics in a research report on Monday, February 23rd. Wells Fargo & Company boosted their price objective on shares of PTC Therapeutics from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Raymond James Financial assumed coverage on shares of PTC Therapeutics in a research report on Friday, April 10th. They set an “outperform” rating and a $108.00 price objective on the stock. TD Cowen upgraded shares of PTC Therapeutics from a “hold” rating to a “buy” rating and lifted their target price for the company from $75.00 to $90.00 in a research note on Friday, May 8th. Finally, Royal Bank Of Canada lifted their target price on shares of PTC Therapeutics from $81.00 to $82.00 and gave the company a “sector perform” rating in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $88.36.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule and biologic therapies for the treatment of rare genetic disorders. Since its founding in 1998, PTC has dedicated its efforts to addressing high unmet medical needs by targeting underlying genetic causes of disease. The company’s research platform emphasizes mechanisms such as nonsense suppression and RNA modulation, enabling the development of novel treatments for conditions with limited therapeutic options.

Among PTC’s approved products is Translarna (ataluren), a first-in-class therapy designed to treat nonsense mutation Duchenne muscular dystrophy in select markets.