Adage Capital Partners GP L.L.C. Has $30.32 Million Holdings in PTC Therapeutics, Inc. $PTCT

Key Points

• Adage Capital Partners GP L.L.C. increased its stake in PTC Therapeutics by 94% during the first quarter, now owning approximately 595,000 shares valued at $30.3 million.
• PTC Therapeutics reported a net margin of 35.65% for the latest quarter, with revenue of $178.88 million, surpassing consensus estimates.
• Several hedge funds, including Quantbot Technologies and PNC Financial Services, also significantly increased their holdings in PTC Therapeutics during the same quarter.

Adage Capital Partners GP L.L.C. raised its position in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 94.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 595,000 shares of the biopharmaceutical company's stock after purchasing an additional 288,244 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.75% of PTC Therapeutics worth $30,321,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in PTC Therapeutics by 0.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,681 shares of the biopharmaceutical company's stock valued at $2,967,000 after purchasing an additional 205 shares during the last quarter. Xponance Inc. increased its stake in shares of PTC Therapeutics by 5.2% in the first quarter. Xponance Inc. now owns 6,372 shares of the biopharmaceutical company's stock valued at $325,000 after buying an additional 314 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of PTC Therapeutics by 84.2% in the first quarter. PNC Financial Services Group Inc. now owns 700 shares of the biopharmaceutical company's stock valued at $36,000 after buying an additional 320 shares during the period. Diversified Trust Co increased its stake in shares of PTC Therapeutics by 2.0% in the first quarter. Diversified Trust Co now owns 17,147 shares of the biopharmaceutical company's stock valued at $874,000 after buying an additional 329 shares during the period. Finally, GF Fund Management CO. LTD. increased its stake in shares of PTC Therapeutics by 21.9% in the first quarter. GF Fund Management CO. LTD. now owns 1,974 shares of the biopharmaceutical company's stock valued at $101,000 after buying an additional 355 shares during the period.

PTC Therapeutics Trading Up 0.2%

NASDAQ PTCT traded up $0.13 during trading hours on Wednesday, hitting $58.55. 141,245 shares of the company's stock were exchanged, compared to its average volume of 1,091,954. The stock has a 50-day simple moving average of $49.60 and a 200 day simple moving average of $49.28. PTC Therapeutics, Inc. has a 1-year low of $30.98 and a 1-year high of $59.00. The firm has a market cap of $4.65 billion, a price-to-earnings ratio of 8.39 and a beta of 0.53.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last released its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.83) EPS for the quarter, topping the consensus estimate of ($1.07) by $0.24. PTC Therapeutics had a negative return on equity of 106.31% and a net margin of 35.65%.The business had revenue of $178.88 million during the quarter, compared to analysts' expectations of $173.01 million. During the same quarter last year, the firm posted ($1.29) earnings per share. The firm's revenue was down 4.2% on a year-over-year basis. PTC Therapeutics has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other PTC Therapeutics news, insider Eric Pauwels sold 39,850 shares of the firm's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $56.92, for a total value of $2,268,262.00. Following the completion of the sale, the insider owned 72,912 shares of the company's stock, valued at approximately $4,150,151.04. This trade represents a 35.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Matthew B. Klein sold 10,739 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $51.74, for a total value of $555,635.86. Following the completion of the sale, the chief executive officer directly owned 337,767 shares of the company's stock, valued at $17,476,064.58. This trade represents a 3.08% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,439 shares of company stock worth $3,115,539. Company insiders own 5.50% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PTCT. Barclays increased their price target on PTC Therapeutics from $42.00 to $46.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 29th. Bank of America decreased their price target on PTC Therapeutics from $82.00 to $76.00 and set a "buy" rating for the company in a research note on Wednesday, August 20th. Cantor Fitzgerald reissued an "overweight" rating and issued a $118.00 price target on shares of PTC Therapeutics in a research note on Wednesday, September 3rd. Cowen reissued a "hold" rating on shares of PTC Therapeutics in a research note on Friday, August 8th. Finally, Morgan Stanley decreased their price target on PTC Therapeutics from $76.00 to $71.00 and set an "overweight" rating for the company in a research note on Wednesday, August 20th. Nine investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, PTC Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus target price of $69.00.

PTC Therapeutics Company Profile

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.