19,877 Shares in PTC Therapeutics, Inc. $PTCT Purchased by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Key Points

• Commonwealth of Pennsylvania Public School Empls Retrmt SYS disclosed a new fourth-quarter position in PTC Therapeutics, buying 19,877 shares valued at about $1.51 million.
• PTC Therapeutics reported better-than-expected quarterly results, with EPS of -$0.03 versus the expected -$0.45 and revenue of $272.6 million, up 43.5% year over year.
• Analyst sentiment remains mixed but constructive, with a Moderate Buy consensus and an average price target of $89, while insiders recently sold shares, including CEO Matthew B. Klein.

Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 19,877 shares of the biopharmaceutical company's stock, valued at approximately $1,510,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Smartleaf Asset Management LLC grew its stake in shares of 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 purchasing an additional 236 shares during the period. Optiver Holding B.V. grew its stake in shares of 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 purchasing an additional 249 shares during the period. Comerica Bank grew its stake in shares of 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 purchasing an additional 469 shares during the period. Salomon & Ludwin LLC purchased a new position in PTC Therapeutics in the fourth quarter valued at $41,000. Finally, IFP Advisors Inc increased its holdings in PTC Therapeutics by 68.1% in the third quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company's stock valued at $47,000 after buying an additional 310 shares in the last quarter.

PTC Therapeutics Stock Performance

NASDAQ:PTCT opened at $70.97 on Monday. The stock has a 50 day moving average of $69.90 and a two-hundred day moving average of $72.25. PTC Therapeutics, Inc. has a 12 month low of $43.17 and a 12 month high of $87.50. The firm has a market cap of $5.89 billion, a P/E ratio of -30.46, a price-to-earnings-growth ratio of 5.99 and a beta of 0.55.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.42. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 22.58%.The firm had revenue of $272.55 million during the quarter, compared to the consensus estimate of $217.42 million. During the same period in the prior year, the company earned $10.04 EPS. The firm's revenue was up 43.5% compared to the same quarter last year. On average, research analysts forecast that PTC Therapeutics, Inc. will post 0.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PTCT. Weiss Ratings cut shares of PTC Therapeutics from a "hold (c-)" rating to a "sell (d)" rating in a report on Monday, May 11th. Morgan Stanley reaffirmed an "overweight" rating and issued a $94.00 price target on shares of PTC Therapeutics in a report on Friday, May 8th. Bank of America reduced their price target on PTC Therapeutics from $97.00 to $93.00 and set a "buy" rating for the company in a report on Friday, February 20th. Wall Street Zen cut PTC Therapeutics from a "buy" rating to a "hold" rating in a report on Saturday, February 21st. Finally, Raymond James Financial initiated coverage on PTC Therapeutics in a report on Friday, April 10th. They issued an "outperform" rating and a $108.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, PTC Therapeutics has a consensus rating of "Moderate Buy" and an average price target of $89.00.

Insider Transactions at PTC Therapeutics

In other news, CEO Matthew B. Klein sold 12,572 shares of the firm's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $72.95, for a total value of $917,127.40. Following the transaction, the chief executive officer directly owned 393,998 shares of the company's stock, valued at approximately $28,742,154.10. This trade represents a 3.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 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, Director Stephanie Okey sold 15,167 shares of the business's stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $70.00, for a total value of $1,061,690.00. Following the transaction, the director owned 8,000 shares in the company, valued at approximately $560,000. This represents a 65.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 94,700 shares of company stock valued at $6,637,971. Company insiders own 5.50% of the company's stock.

About PTC Therapeutics

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.

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