PTC Therapeutics, Inc. $PTCT Shares Bought by Royce & Associates LP

Royce & Associates LP grew its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 146.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 80,794 shares of the biopharmaceutical company’s stock after acquiring an additional 48,015 shares during the quarter. Royce & Associates LP’s holdings in PTC Therapeutics were worth $6,137,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its position in PTC Therapeutics by 101.3% during the 3rd quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company’s stock worth $28,000 after acquiring an additional 236 shares during the period. Optiver Holding B.V. boosted its position in PTC Therapeutics by 96.5% during the 3rd quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 249 shares during the period. Comerica Bank boosted its position in PTC Therapeutics by 868.5% during the 3rd quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 469 shares during the period. Salomon & Ludwin LLC acquired a new position in PTC Therapeutics during the 4th quarter worth $41,000. Finally, Allworth Financial LP boosted its position in PTC Therapeutics by 63.8% during the 4th quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company’s stock worth $48,000 after acquiring an additional 247 shares during the period.

Wall Street Analysts Forecast Growth

PTCT has been the topic of a number of research reports. Weiss Ratings downgraded PTC Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Wells Fargo & Company boosted their price objective on PTC Therapeutics from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Barclays reissued an “overweight” rating and issued a $120.00 price objective on shares of PTC Therapeutics in a research note on Monday, February 23rd. Bank of America dropped their price objective on PTC Therapeutics from $97.00 to $93.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $94.00 price objective on shares of PTC Therapeutics in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $89.00.

PTC Therapeutics Stock Up 3.9%

Shares of PTC Therapeutics stock opened at $73.85 on Friday. The stock’s fifty day moving average is $69.46 and its 200-day moving average is $72.41. The firm has a market capitalization of $6.13 billion, a PE ratio of -31.70, a price-to-earnings-growth ratio of 13.25 and a beta of 0.53. PTC Therapeutics, Inc. has a 12-month low of $43.17 and a 12-month high of $87.50.

PTC Therapeutics (NASDAQ:PTCT) last announced its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.42. The company had revenue of $272.55 million for the quarter, compared to analyst estimates of $217.42 million. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 22.58%.PTC Therapeutics’s revenue for the quarter was up 43.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $10.04 earnings per share. Analysts expect that PTC Therapeutics, Inc. will post 0.19 EPS for the current year.

Insider Activity at PTC Therapeutics

In other news, insider Neil Gregory Almstead sold 52,003 shares of the business’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $69.04, for a total transaction of $3,590,287.12. Following the sale, the insider directly owned 60,137 shares of the company’s stock, valued at $4,151,858.48. The trade was a 46.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 value of $56,363.71. Following the sale, the executive vice president directly owned 79,115 shares in the company, valued at $5,379,028.85. This trade represents a 1.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 115,022 shares of company stock valued at $7,925,979 over the last ninety days. Company insiders own 5.50% of the company’s stock.

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.