435,691 Shares in PTC Therapeutics, Inc. $PTCT Purchased by Parkman Healthcare Partners LLC

Key Points

• Parkman Healthcare Partners purchased 435,691 shares of PTC Therapeutics in the second quarter, valued at approximately $35.5 million. The position represented 3.6% of Parkman’s portfolio and 0.52% of PTC’s outstanding shares.
• Analysts maintain a generally positive outlook, with PTC receiving a consensus “Moderate Buy” rating and an average price target of $98.55, despite some recent downgrades.
• PTC reported quarterly revenue of $360.5 million and adjusted earnings of $0.92 per share, exceeding analyst estimates; revenue increased 101.5% year over year. Meanwhile, insiders sold $16.8 million of stock during the last quarter, primarily through pre-arranged trading plans.

Parkman Healthcare Partners LLC acquired a new stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 435,691 shares of the biopharmaceutical company's stock, valued at approximately $35,539,000. PTC Therapeutics makes up 3.6% of Parkman Healthcare Partners LLC's investment portfolio, making the stock its 5th biggest holding. Parkman Healthcare Partners LLC owned 0.52% of PTC Therapeutics at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. UMB Bank n.a. purchased a new stake in shares of PTC Therapeutics during the fourth quarter valued at approximately $26,000. Comerica Bank raised its holdings in PTC Therapeutics by 868.5% in 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 last quarter. IFP Advisors Inc raised its holdings in PTC Therapeutics by 68.1% in the 3rd quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company's stock worth $47,000 after acquiring an additional 310 shares during the last quarter. Allworth Financial LP lifted its position in PTC Therapeutics by 63.8% in the 4th quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company's stock valued at $48,000 after acquiring an additional 247 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in PTC Therapeutics by 247.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,143 shares of the biopharmaceutical company's stock valued at $56,000 after acquiring an additional 814 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research firms have commented on PTCT. Weiss Ratings lowered PTC Therapeutics from a "sell (d+)" rating to a "sell (d)" rating in a report on Monday, August 17th. Zacks Research downgraded PTC Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 6th. Wall Street Zen downgraded PTC Therapeutics from a "strong-buy" rating to a "buy" rating in a report on Saturday. Royal Bank Of Canada increased their price objective on PTC Therapeutics from $82.00 to $85.00 and gave the company a "sector perform" rating in a research report on Tuesday, July 7th. Finally, Cantor Fitzgerald lifted their price objective on PTC Therapeutics from $124.00 to $130.00 and gave the stock an "overweight" rating in a report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $98.55.

Insider Buying and Selling at PTC Therapeutics

In related news, CEO Matthew B. Klein sold 10,292 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $68.57, for a total value of $705,722.44. Following the transaction, the chief executive officer owned 383,868 shares of the company's stock, valued at approximately $26,321,828.76. This trade represents a 2.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through 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, insider Neil Gregory Almstead sold 2,464 shares of the firm's stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $90.25, for a total transaction of $222,376.00. Following the completion of the transaction, the insider directly owned 60,299 shares in the company, valued at approximately $5,441,984.75. The trade was a 3.93% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 205,343 shares of company stock worth $16,774,704. 5.30% of the stock is owned by corporate insiders.

PTC Therapeutics Price Performance

NASDAQ PTCT opened at $71.06 on Tuesday. The business's fifty day moving average price is $77.51 and its 200-day moving average price is $72.31. The stock has a market capitalization of $5.93 billion, a price-to-earnings ratio of -122.52, a PEG ratio of 2.15 and a beta of 0.56. PTC Therapeutics, Inc. has a 1-year low of $48.28 and a 1-year high of $90.87.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.24 by $0.68. The company had revenue of $360.52 million during the quarter, compared to analyst estimates of $298.63 million. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 3.80%.PTC Therapeutics's revenue was up 101.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.83) earnings per share. Equities research analysts anticipate that PTC Therapeutics, Inc. will post 1.17 EPS for the current year.

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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