Driehaus Capital Management LLC Boosts Stock Position in PTC Therapeutics, Inc. $PTCT

Key Points

• Driehaus Capital Management LLC increased its stake in PTC Therapeutics by 45.3%, owning approximately 1.91% of the company, which is valued at around $77 million.
• PTC Therapeutics reported a quarterly earnings per share of ($0.83), exceeding analysts' expectations, despite a 4.2% year-over-year revenue decline.
• Analysts currently have a consensus price target of $69.15 for PTC Therapeutics, with ratings varying from "Strong Buy" to "Sell."

Driehaus Capital Management LLC lifted its stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 45.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,512,645 shares of the biopharmaceutical company's stock after purchasing an additional 471,586 shares during the quarter. Driehaus Capital Management LLC owned 1.91% of PTC Therapeutics worth $77,084,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in PTCT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in PTC Therapeutics by 0.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,681 shares of the biopharmaceutical company's stock worth $2,967,000 after acquiring an additional 205 shares during the last quarter. Xponance Inc. lifted its position in shares of PTC Therapeutics by 5.2% in the 1st quarter. Xponance Inc. now owns 6,372 shares of the biopharmaceutical company's stock worth $325,000 after purchasing an additional 314 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of PTC Therapeutics by 84.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 700 shares of the biopharmaceutical company's stock worth $36,000 after purchasing an additional 320 shares during the period. Diversified Trust Co lifted its position in shares of PTC Therapeutics by 2.0% in the 1st quarter. Diversified Trust Co now owns 17,147 shares of the biopharmaceutical company's stock worth $874,000 after purchasing an additional 329 shares during the period. Finally, GF Fund Management CO. LTD. lifted its position in shares of PTC Therapeutics by 21.9% in the 1st quarter. GF Fund Management CO. LTD. now owns 1,974 shares of the biopharmaceutical company's stock worth $101,000 after purchasing an additional 355 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Cowen reiterated a "hold" rating on shares of PTC Therapeutics in a research report on Friday, August 8th. Wells Fargo & Company dropped their target price on shares of PTC Therapeutics from $79.00 to $73.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 20th. Bank of America dropped their target price on shares of PTC Therapeutics from $82.00 to $76.00 and set a "buy" rating on the stock in a research report on Wednesday, August 20th. Wall Street Zen lowered shares of PTC Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Truist Financial boosted their price target on shares of PTC Therapeutics from $80.00 to $86.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have given a Hold rating and one has assigned 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 price target of $69.15.

PTC Therapeutics Stock Performance

NASDAQ PTCT traded up $3.10 during trading on Tuesday, hitting $52.43. 1,778,744 shares of the company's stock traded hands, compared to its average volume of 1,080,369. The stock has a market capitalization of $4.17 billion, a price-to-earnings ratio of 7.52 and a beta of 0.53. PTC Therapeutics, Inc. has a 12-month low of $30.41 and a 12-month high of $58.38. The business has a 50 day moving average of $48.73 and a 200-day moving average of $49.02.

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

Insiders Place Their Bets

In related news, CEO Matthew B. Klein sold 10,739 shares of the firm's 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 completion of the sale, the chief executive officer owned 337,767 shares of the company's stock, valued at $17,476,064.58. This trade represents a 3.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Pierre Gravier sold 2,516 shares of PTC Therapeutics 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 completion of the transaction, the chief financial officer directly owned 71,920 shares of the company's stock, valued at approximately $3,557,163.20. This represents a 3.38% decrease in their position. The disclosure for this sale can be found here. Company 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.