36,246 Shares in PTC Therapeutics, Inc. (NASDAQ:PTCT) Purchased by Neo Ivy Capital Management

Key Points

• Neo Ivy Capital Management acquired 36,246 shares of PTC Therapeutics, valued at approximately $1.847 million, highlighting increased interest from institutional investors in the company.
• PTC Therapeutics reported $10.04 earnings per share for the latest quarter, significantly exceeding analysts' consensus estimate of $0.85.
• Following recent analyst reports, the consensus price target for PTC Therapeutics is set at $65.00, with a rating of "Moderate Buy" based on multiple ratings from analysts.

Neo Ivy Capital Management bought a new stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 36,246 shares of the biopharmaceutical company's stock, valued at approximately $1,847,000.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in PTC Therapeutics by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 9,178,822 shares of the biopharmaceutical company's stock valued at $414,332,000 after buying an additional 53,688 shares during the period. Toronto Dominion Bank bought a new stake in shares of PTC Therapeutics in the 4th quarter worth about $148,363,000. Janus Henderson Group PLC grew its holdings in shares of PTC Therapeutics by 24.4% in the 4th quarter. Janus Henderson Group PLC now owns 2,325,915 shares of the biopharmaceutical company's stock worth $105,015,000 after purchasing an additional 455,698 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in shares of PTC Therapeutics by 150.6% in the 4th quarter. Point72 Asset Management L.P. now owns 1,443,362 shares of the biopharmaceutical company's stock worth $65,153,000 after purchasing an additional 867,502 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in shares of PTC Therapeutics by 34.0% in the 4th quarter. Nuveen Asset Management LLC now owns 1,077,794 shares of the biopharmaceutical company's stock worth $48,652,000 after purchasing an additional 273,638 shares during the last quarter.

Insider Transactions at PTC Therapeutics

In other news, CFO Pierre Gravier sold 2,516 shares of the business's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $49.46, for a total value of $124,441.36. Following the completion of the sale, the chief financial officer owned 71,920 shares of the company's stock, valued at approximately $3,557,163.20. The trade was a 3.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Mark Elliott Boulding sold 883 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $46.02, for a total transaction of $40,635.66. Following the completion of the sale, the vice president directly owned 103,901 shares of the company's stock, valued at approximately $4,781,524.02. The trade was a 0.84% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,328 shares of company stock valued at $254,158. 5.50% of the stock is currently owned by company insiders.

PTC Therapeutics Stock Performance

PTCT traded up $4.67 during trading on Tuesday, reaching $49.01. 1,108,987 shares of the stock were exchanged, compared to its average volume of 1,026,158. The stock has a market cap of $3.88 billion, a P/E ratio of 7.49 and a beta of 0.50. PTC Therapeutics, Inc. has a twelve month low of $29.01 and a twelve month high of $58.38. The stock's 50 day moving average price is $48.81 and its two-hundred day moving average price is $48.56.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its earnings results on Tuesday, May 6th. The biopharmaceutical company reported $10.04 earnings per share for the quarter, topping analysts' consensus estimates of $0.85 by $9.19. PTC Therapeutics had a net margin of 33.56% and a negative return on equity of 78.56%. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $437.16 million. During the same period in the previous year, the company earned ($1.20) earnings per share. The firm's revenue for the quarter was down 9.6% on a year-over-year basis. Equities research analysts predict that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PTCT has been the topic of several analyst reports. Robert W. Baird lowered their target price on shares of PTC Therapeutics from $70.00 to $66.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Cantor Fitzgerald upped their target price on shares of PTC Therapeutics from $112.00 to $120.00 and gave the stock an "overweight" rating in a report on Tuesday. Royal Bank Of Canada upped their target price on shares of PTC Therapeutics from $57.00 to $58.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. UBS Group upped their target price on shares of PTC Therapeutics from $71.00 to $80.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, Barclays increased their price objective on shares of PTC Therapeutics from $42.00 to $46.00 and gave the stock an "equal weight" rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, PTC Therapeutics currently has an average rating of "Moderate Buy" and a consensus target price of $68.92.

About PTC Therapeutics

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders in the United States and internationally. The company offers Translarna and Emflaza for the treatment of Duchenne muscular dystrophy; Upstaza to treat aromatic l-amino acid decarboxylas (AADC) deficiency, a central nervous system disorder; Tegsedi and Waylivra for the treatment of rare diseases; and Evrysdi to treat spinal muscular atrophy (SMA) in adults and children.