BI Asset Management Fondsmaeglerselskab A S Purchases 64,472 Shares of PTC Therapeutics, Inc. $PTCT

Key Points

• BI Asset Management boosted its PTC Therapeutics stake by 67.9% in the fourth quarter, buying 64,472 shares to bring its total holding to 159,477 shares worth about $12.1 million.
• PTC Therapeutics reported a strong quarterly beat, with EPS of -$0.03 versus the expected -$0.45 and revenue of $272.55 million, up 43.5% year over year.
• Analysts remain generally constructive on the stock, with a Moderate Buy consensus and an average price target of $89, though some insiders recently sold shares under pre-arranged trading plans.

BI Asset Management Fondsmaeglerselskab A S increased its position in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 67.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 159,477 shares of the biopharmaceutical company's stock after purchasing an additional 64,472 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned approximately 0.20% of PTC Therapeutics worth $12,114,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PTCT. Jefferies Financial Group Inc. bought a new position in PTC Therapeutics in the 3rd quarter worth about $97,252,000. BNP Paribas Financial Markets lifted its stake in PTC Therapeutics by 4,013.1% during the 4th quarter. BNP Paribas Financial Markets now owns 828,662 shares of the biopharmaceutical company's stock valued at $62,945,000 after acquiring an additional 808,515 shares during the period. SG Americas Securities LLC lifted its stake in PTC Therapeutics by 587.5% during the 4th quarter. SG Americas Securities LLC now owns 894,461 shares of the biopharmaceutical company's stock valued at $67,943,000 after acquiring an additional 764,364 shares during the period. State Street Corp lifted its stake in PTC Therapeutics by 22.1% during the 2nd quarter. State Street Corp now owns 2,996,454 shares of the biopharmaceutical company's stock valued at $146,347,000 after acquiring an additional 541,558 shares during the period. Finally, Vanguard Group Inc. lifted its stake in PTC Therapeutics by 6.2% during the 4th quarter. Vanguard Group Inc. now owns 8,803,203 shares of the biopharmaceutical company's stock valued at $668,691,000 after acquiring an additional 514,204 shares during the period.

PTC Therapeutics Trading Up 0.5%

PTC Therapeutics stock opened at $70.97 on Friday. The firm has a 50 day moving average of $69.90 and a 200 day moving average of $72.27. The firm has a market capitalization of $5.89 billion, a price-to-earnings ratio of -30.46, a P/E/G ratio of 5.99 and a beta of 0.56. PTC Therapeutics, Inc. has a 12-month low of $43.17 and a 12-month high of $87.50.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.42. The company had revenue of $272.55 million during the quarter, compared to analyst estimates of $217.42 million. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. The firm's quarterly revenue was up 43.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $10.04 EPS. On average, analysts predict that PTC Therapeutics, Inc. will post 0.43 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Morgan Stanley restated an "overweight" rating and set a $94.00 target price on shares of PTC Therapeutics in a research note on Friday, May 8th. Wells Fargo & Company upped their price target on shares of PTC Therapeutics from $86.00 to $95.00 and gave the company an "overweight" rating in a research report on Friday, May 8th. Truist Financial raised shares of PTC Therapeutics to a "strong-buy" rating in a research report on Wednesday, March 25th. Weiss Ratings lowered shares of PTC Therapeutics from a "hold (c-)" rating to a "sell (d)" rating in a research report on Monday, May 11th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of PTC Therapeutics in a research report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $89.00.

Insider Buying and Selling

In other PTC Therapeutics news, insider Neil Gregory Almstead sold 52,003 shares of the stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $69.04, for a total transaction of $3,590,287.12. Following the completion of the sale, the insider directly owned 60,137 shares of the company's stock, valued at $4,151,858.48. This trade represents a 46.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Lee Scott Golden sold 829 shares of the stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $67.99, for a total transaction of $56,363.71. Following the sale, the executive vice president directly owned 79,115 shares of the company's stock, valued at approximately $5,379,028.85. This trade represents a 1.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders sold a total of 94,700 shares of company stock worth $6,637,971 in the last ninety days. Corporate insiders own 5.50% of the company's stock.

PTC Therapeutics Company Profile

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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