Bayforest Capital Ltd Acquires Shares of 8,153 PTC Therapeutics, Inc. (NASDAQ:PTCT)

Key Points

• Bayforest Capital Ltd has acquired a new position in PTC Therapeutics, purchasing 8,153 shares valued at approximately $415,000.
• Analysts have issued mixed ratings for PTC Therapeutics, with price targets ranging from $42.00 to $86.00, reflecting a consensus rating of "Moderate Buy."
• PTC Therapeutics reported a strong earnings quarter, with an EPS of $10.04, significantly exceeding the consensus estimate of $0.85, although revenue was down 9.6% year-over-year.

Bayforest Capital Ltd acquired a new stake in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,153 shares of the biopharmaceutical company's stock, valued at approximately $415,000.

Several other institutional investors have also modified their holdings of PTCT. Toronto Dominion Bank acquired a new position in PTC Therapeutics during the fourth quarter valued at $148,363,000. Driehaus Capital Management LLC acquired a new position in PTC Therapeutics during the fourth quarter valued at $46,993,000. Point72 Asset Management L.P. raised its position in PTC Therapeutics by 150.6% during the fourth quarter. Point72 Asset Management L.P. now owns 1,443,362 shares of the biopharmaceutical company's stock valued at $65,153,000 after buying an additional 867,502 shares during the period. Janus Henderson Group PLC raised its position in PTC Therapeutics by 24.4% during the fourth quarter. Janus Henderson Group PLC now owns 2,325,915 shares of the biopharmaceutical company's stock valued at $105,015,000 after buying an additional 455,698 shares during the period. Finally, MPM Bioimpact LLC raised its position in PTC Therapeutics by 384.6% during the fourth quarter. MPM Bioimpact LLC now owns 434,767 shares of the biopharmaceutical company's stock valued at $19,625,000 after buying an additional 345,052 shares during the period.

PTC Therapeutics Stock Performance

PTCT stock traded up $0.02 during midday trading on Friday, hitting $52.13. 1,020,621 shares of the company's stock were exchanged, compared to its average volume of 1,123,253. The stock's fifty day moving average price is $49.21 and its 200-day moving average price is $48.75. The company has a market cap of $4.13 billion, a PE ratio of 8.01 and a beta of 0.54. PTC Therapeutics, Inc. has a one year low of $29.01 and a one year high of $58.38.

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Truist Financial upped their price target on PTC Therapeutics from $80.00 to $86.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Cantor Fitzgerald upped their target price on PTC Therapeutics from $112.00 to $120.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Wall Street Zen lowered PTC Therapeutics from a "strong-buy" rating to a "buy" rating in a research report on Friday, May 16th. Citigroup reaffirmed a "neutral" rating and issued a $50.00 target price (up from $40.00) on shares of PTC Therapeutics in a research report on Monday, July 28th. Finally, Royal Bank Of Canada upped their target price on PTC Therapeutics from $57.00 to $58.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $69.38.

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 stock was sold at an average price of $49.46, for a total value of $124,441.36. Following the sale, the chief financial officer directly owned 71,920 shares in the company, valued at $3,557,163.20. The trade was a 3.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Mark Elliott Boulding sold 883 shares of the company's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $46.02, for a total value of $40,635.66. Following the sale, the vice president owned 103,901 shares in the company, valued at $4,781,524.02. The trade was a 0.84% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,328 shares of company stock worth $254,158. Corporate insiders own 5.50% of the company's stock.

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.