PTC Therapeutics, Inc. (NASDAQ:PTCT) Position Raised by Federated Hermes Inc.

Federated Hermes Inc. increased its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 57.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 75,345 shares of the biopharmaceutical company's stock after purchasing an additional 27,517 shares during the quarter. Federated Hermes Inc. owned 0.10% of PTC Therapeutics worth $3,840,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the company. Toronto Dominion Bank purchased a new position in PTC Therapeutics in the fourth quarter worth about $148,363,000. Janus Henderson Group PLC increased its stake in PTC Therapeutics by 24.4% in the 4th quarter. Janus Henderson Group PLC now owns 2,325,915 shares of the biopharmaceutical company's stock worth $105,015,000 after acquiring an additional 455,698 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. Nuveen Asset Management LLC boosted its holdings in shares of 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 purchasing an additional 273,638 shares during the period. Finally, Driehaus Capital Management LLC purchased a new position in shares of PTC Therapeutics in the 4th quarter worth approximately $46,993,000.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Bank of America boosted their price objective on PTC Therapeutics from $68.00 to $84.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Barclays raised their target price on PTC Therapeutics from $42.00 to $46.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 29th. Citigroup reaffirmed a "neutral" rating and issued a $50.00 price target (up previously from $40.00) on shares of PTC Therapeutics in a report on Monday, July 28th. JPMorgan Chase & Co. dropped their price objective on PTC Therapeutics from $75.00 to $67.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. Finally, Truist Financial lifted their target price on PTC Therapeutics from $80.00 to $86.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $69.38.

PTC Therapeutics Stock Down 2.2%

Shares of PTC Therapeutics stock traded down $1.14 during trading hours on Tuesday, hitting $51.11. 1,114,280 shares of the company's stock traded hands, compared to its average volume of 1,177,511. The stock has a 50 day simple moving average of $49.40 and a 200-day simple moving average of $48.86. The company has a market cap of $4.05 billion, a PE ratio of 7.85 and a beta of 0.54. PTC Therapeutics, Inc. has a twelve month low of $29.01 and a twelve month high of $58.38.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its earnings results on Tuesday, May 6th. The biopharmaceutical company reported $10.04 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $437.16 million. During the same period in the previous year, the firm posted ($1.20) earnings per share. PTC Therapeutics's quarterly revenue was down 9.6% compared to the same quarter last year. As a group, equities research analysts predict that PTC Therapeutics, Inc. will post -4.52 EPS for the current year.

Insider Activity

In other news, VP Mark Elliott Boulding sold 883 shares of PTC Therapeutics stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $46.02, for a total transaction of $40,635.66. Following the sale, the vice president owned 103,901 shares of the company's stock, valued at approximately $4,781,524.02. The trade was a 0.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Pierre Gravier sold 2,516 shares of PTC Therapeutics stock in a transaction that occurred on Tuesday, July 15th. The shares were 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 approximately $3,557,163.20. This trade represents a 3.38% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,067 shares of company stock valued at $809,794. 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.