Bayforest Capital Ltd Purchases New Shares in PTC Therapeutics, Inc. $PTCT

Key Points

• Bayforest Capital Ltd has acquired a new stake in PTC Therapeutics, purchasing 8,153 shares valued at approximately $415,000 during the first quarter.
• Several hedge funds have increased their holdings in PTC Therapeutics, with notable boosts from UBS AM (+11.5%), AQR Capital Management (+162.5%), and Parkman Healthcare Partners (+58.0%).
• Analysts have raised price targets for PTC Therapeutics, with UBS Group setting a target of $80.00 and Cantor Fitzgerald at $118.00, reflecting a consensus rating of "Moderate Buy" for the stock.

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

Other hedge funds also recently made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in PTC Therapeutics by 11.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 178,755 shares of the biopharmaceutical company's stock worth $9,109,000 after purchasing an additional 18,504 shares in the last quarter. Empowered Funds LLC purchased a new position in PTC Therapeutics in the first quarter worth about $1,999,000. Parkman Healthcare Partners LLC boosted its position in PTC Therapeutics by 58.0% in the first quarter. Parkman Healthcare Partners LLC now owns 280,314 shares of the biopharmaceutical company's stock worth $14,285,000 after purchasing an additional 102,946 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of PTC Therapeutics by 162.5% in the first quarter. AQR Capital Management LLC now owns 413,023 shares of the biopharmaceutical company's stock worth $21,048,000 after buying an additional 255,674 shares during the period. Finally, Adage Capital Partners GP L.L.C. raised its stake in shares of PTC Therapeutics by 94.0% in the first quarter. Adage Capital Partners GP L.L.C. now owns 595,000 shares of the biopharmaceutical company's stock worth $30,321,000 after buying an additional 288,244 shares during the period.

Insider Transactions at PTC Therapeutics

In related news, CEO Matthew B. Klein sold 10,739 shares of the stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $51.74, for a total value of $555,635.86. Following the transaction, the chief executive officer directly owned 337,767 shares of the company's stock, valued at approximately $17,476,064.58. This trade represents a 3.08% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Allan Steven Jacobson sold 1,667 shares of the firm's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $50.15, for a total value of $83,600.05. Following the completion of the transaction, the director directly owned 17,451 shares in the company, valued at $875,167.65. This trade represents a 8.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 56,439 shares of company stock valued at $3,115,539. Corporate insiders own 5.50% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on PTCT shares. UBS Group lifted their target price on PTC Therapeutics from $71.00 to $80.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Citigroup lifted their price objective on PTC Therapeutics from $40.00 to $50.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. Barclays lifted their price objective on PTC Therapeutics from $42.00 to $46.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 29th. Robert W. Baird set a $70.00 target price on PTC Therapeutics in a research report on Friday, August 8th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $118.00 target price on shares of PTC Therapeutics in a research report on Wednesday, September 3rd. Nine analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, PTC Therapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $69.00.

PTC Therapeutics Trading Up 2.6%

Shares of PTCT stock opened at $58.42 on Wednesday. The company has a market cap of $4.64 billion, a price-to-earnings ratio of 8.38 and a beta of 0.53. 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 12-month low of $30.98 and a 12-month high of $58.73.

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

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.

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