Financiere des Professionnels Fonds d investissement inc. Makes New $284,000 Investment in PTC Therapeutics, Inc. $PTCT

Key Points

• Financiere des Professionnels Fonds d'investissement inc. has made a new investment of approximately $284,000 in PTC Therapeutics, acquiring 5,821 shares during the second quarter.
• Analysts have set varying price targets for PTC Therapeutics, with Royal Bank of Canada raising their target from $60.00 to $63.00 and Truist Financial increasing theirs from $80.00 to $86.00.
• Following recent insider sales, corporate insiders now own only 5.50% of PTC Therapeutics stock, indicating increased activity among management and potential confidence changes within the company.

Financiere des Professionnels Fonds d investissement inc. purchased a new stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 5,821 shares of the biopharmaceutical company's stock, valued at approximately $284,000.

Other hedge funds also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of PTC Therapeutics by 0.3% in 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 purchasing an additional 205 shares in the last quarter. Xponance Inc. boosted 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 in the last quarter. PNC Financial Services Group Inc. boosted 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 in the last quarter. Diversified Trust Co raised its holdings in 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 acquiring an additional 329 shares during the last quarter. Finally, GF Fund Management CO. LTD. raised its holdings in 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 acquiring an additional 355 shares during the last quarter.

Analysts Set New Price Targets

PTCT has been the subject of a number of recent analyst reports. Barclays boosted their price objective on shares of PTC Therapeutics from $42.00 to $46.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. Royal Bank Of Canada restated an "outperform" rating and issued a $63.00 price objective (up from $60.00) on shares of PTC Therapeutics in a report on Friday, August 8th. Wall Street Zen lowered shares of PTC Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 9th. Cantor Fitzgerald restated an "overweight" rating and issued a $118.00 price objective on shares of PTC Therapeutics in a report on Wednesday, September 3rd. Finally, Cowen restated a "hold" rating on shares of PTC Therapeutics in a report on Friday, August 8th. Nine equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, PTC Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $69.00.

Insider Activity

In other news, Director Allan Steven Jacobson sold 1,667 shares of the business's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $50.15, for a total transaction of $83,600.05. Following 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Emma Reeve sold 15,705 shares of the company's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $59.50, for a total transaction of $934,447.50. Following the completion of the sale, the director directly owned 10,332 shares in the company, valued at approximately $614,754. The trade was a 60.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 131,393 shares of company stock valued at $7,640,615. 5.50% of the stock is owned by corporate insiders.

PTC Therapeutics Stock Performance

NASDAQ:PTCT traded up $0.36 during trading hours on Monday, reaching $60.84. The company's stock had a trading volume of 431,615 shares, compared to its average volume of 1,111,377. The company has a market capitalization of $4.83 billion, a P/E ratio of 8.72 and a beta of 0.53. PTC Therapeutics, Inc. has a 12 month low of $34.57 and a 12 month high of $63.19. The stock has a 50 day moving average price of $51.48 and a two-hundred day moving average price of $49.74.

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 (EPS) for the quarter, topping the consensus estimate of ($1.07) by $0.24. PTC Therapeutics had a net margin of 35.65% and a negative return on equity of 106.31%. The business had revenue of $178.88 million for the quarter, compared to analyst estimates of $173.01 million. During the same period in the previous year, the company earned ($1.29) earnings per share. The business's revenue for the quarter was down 4.2% on a year-over-year basis. PTC Therapeutics has set its FY 2025 guidance at EPS. As a group, analysts predict that PTC Therapeutics, Inc. will post -4.52 EPS 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.