Harbor Capital Advisors Inc. Buys 8,042 Shares of PTC Therapeutics, Inc. $PTCT

Key Points

• Harbor Capital Advisors Inc. increased its stake in PTC Therapeutics, Inc. by 19.7% in Q2, owning approximately 48,767 shares valued at $2.38 million.
• PTC Therapeutics reported a quarterly earnings per share of ($0.83), exceeding analyst expectations, with revenue of $178.88 million.
• Wall Street analysts have mixed ratings on PTC Therapeutics, with an average price target of $69.00, reflecting a "Moderate Buy" sentiment among ten investment analysts.

Harbor Capital Advisors Inc. lifted its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 19.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,767 shares of the biopharmaceutical company's stock after buying an additional 8,042 shares during the period. Harbor Capital Advisors Inc. owned about 0.06% of PTC Therapeutics worth $2,382,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Quantbot Technologies LP boosted its stake in shares of PTC Therapeutics by 545.5% during the 1st quarter. Quantbot Technologies LP now owns 652 shares of the biopharmaceutical company's stock worth $33,000 after buying an additional 551 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of PTC Therapeutics by 84.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 700 shares of the biopharmaceutical company's stock worth $36,000 after buying an additional 320 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of PTC Therapeutics by 86.3% during the 1st quarter. GAMMA Investing LLC now owns 952 shares of the biopharmaceutical company's stock worth $49,000 after buying an additional 441 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of PTC Therapeutics during the 1st quarter worth about $61,000. Finally, GF Fund Management CO. LTD. acquired a new position in shares of PTC Therapeutics during the 4th quarter worth about $73,000.

PTC Therapeutics Price Performance

Shares of PTC Therapeutics stock traded down $2.40 during trading on Friday, hitting $60.48. The company's stock had a trading volume of 1,835,615 shares, compared to its average volume of 1,237,900. PTC Therapeutics, Inc. has a 52 week low of $34.57 and a 52 week high of $63.19. The stock has a market cap of $4.80 billion, a price-to-earnings ratio of 8.68 and a beta of 0.53. The stock has a 50-day moving average price of $51.48 and a two-hundred day moving average price of $49.76.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. UBS Group increased their price objective on shares of PTC Therapeutics from $71.00 to $80.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Barclays raised their target price on shares of PTC Therapeutics from $42.00 to $46.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 29th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $118.00 target price on shares of PTC Therapeutics in a research note on Wednesday, September 3rd. Wells Fargo & Company cut their target price on shares of PTC Therapeutics from $79.00 to $73.00 and set an "overweight" rating for the company in a research note on Wednesday, August 20th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $63.00 target price (up from $60.00) on shares of PTC Therapeutics in a research note on Friday, August 8th. Nine analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, PTC Therapeutics has a consensus rating of "Moderate Buy" and an average target price of $69.00.

Insider Transactions at PTC Therapeutics

In other PTC Therapeutics news, VP Mark Elliott Boulding sold 24,585 shares of PTC Therapeutics stock in a transaction on Friday, September 12th. The shares were sold at an average price of $61.34, for a total value of $1,508,043.90. Following the completion of the sale, the vice president directly owned 103,901 shares of the company's stock, valued at approximately $6,373,287.34. The trade was a 19.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Emma Reeve sold 15,705 shares of PTC Therapeutics 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 of the company's stock, valued at approximately $614,754. This trade represents a 60.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 131,393 shares of company stock valued at $7,640,615. 5.50% of the stock is owned by insiders.

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.