Ellsworth Advisors LLC Makes New $588,000 Investment in PTC Therapeutics, Inc. $PTCT

Key Points

• Ellsworth Advisors LLC made a new investment of $588,000 in PTC Therapeutics, acquiring 11,529 shares of the company's stock during the first quarter.
• PTC Therapeutics reported earnings of ($0.83) EPS for the last quarter, which exceeded analysts' expectations, along with a revenue of $178.88 million, a 4.2% year-over-year decline.
• Analysts have a consensus rating of "Moderate Buy" for PTC Therapeutics, with an average price target of $69.00, indicating potential upside based on recent price movements.

Ellsworth Advisors LLC acquired a new position in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 11,529 shares of the biopharmaceutical company's stock, valued at approximately $588,000.

A number of other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in PTC Therapeutics by 13.2% in the 1st quarter. Wellington Management Group LLP now owns 5,419,172 shares of the biopharmaceutical company's stock worth $276,161,000 after acquiring an additional 632,049 shares during the last quarter. Toronto Dominion Bank bought a new stake in PTC Therapeutics in the 4th quarter worth approximately $148,363,000. Driehaus Capital Management LLC increased its stake in PTC Therapeutics by 45.3% in the 1st quarter. Driehaus Capital Management LLC now owns 1,512,645 shares of the biopharmaceutical company's stock worth $77,084,000 after acquiring an additional 471,586 shares during the last quarter. Point72 Asset Management L.P. increased its stake in PTC Therapeutics by 150.6% in the 4th quarter. Point72 Asset Management L.P. now owns 1,443,362 shares of the biopharmaceutical company's stock worth $65,153,000 after acquiring an additional 867,502 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its stake in PTC Therapeutics by 34.0% in the 4th quarter. Nuveen Asset Management LLC now owns 1,077,794 shares of the biopharmaceutical company's stock worth $48,652,000 after acquiring an additional 273,638 shares during the last quarter.

PTC Therapeutics Stock Up 4.5%

PTCT opened at $60.96 on Friday. The business has a fifty day moving average of $50.03 and a 200 day moving average of $49.41. PTC Therapeutics, Inc. has a 52-week low of $31.80 and a 52-week high of $61.11. The stock has a market cap of $4.84 billion, a P/E ratio of 8.75 and a beta of 0.53.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($0.83) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.07) by $0.24. The company had revenue of $178.88 million during 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%.PTC Therapeutics's revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.29) EPS. PTC Therapeutics has set its FY 2025 guidance at EPS. Equities analysts anticipate that PTC Therapeutics, Inc. will post -4.52 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PTCT has been the topic of a number of research reports. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $63.00 price objective (up previously from $60.00) on shares of PTC Therapeutics in a research note on Friday, August 8th. Citigroup lifted their target price on PTC Therapeutics from $40.00 to $50.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Bank of America dropped their target price on PTC Therapeutics from $82.00 to $76.00 and set a "buy" rating for the company in a report on Wednesday, August 20th. Barclays lifted their target price on PTC Therapeutics from $42.00 to $46.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. Finally, Wall Street Zen cut PTC Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 9th. Nine equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $69.00.

Insider Buying and Selling at PTC Therapeutics

In other PTC Therapeutics news, Director Allan Steven Jacobson sold 1,667 shares of PTC Therapeutics stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $50.15, for a total transaction of $83,600.05. Following the completion of the sale, the director directly owned 17,451 shares of the company's stock, valued at $875,167.65. The trade was a 8.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Eric Pauwels sold 39,850 shares of PTC Therapeutics stock in a transaction on Monday, September 8th. The shares were sold at an average price of $56.92, for a total value of $2,268,262.00. Following the sale, the insider directly 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 disclosure for this sale can be found here. Insiders sold a total of 68,439 shares of company stock worth $3,815,619 over the last quarter. Insiders own 5.50% of the company's stock.

PTC Therapeutics 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.

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