PTC Therapeutics, Inc. $PTCT Stake Raised by Invesco Ltd.

Key Points

• Invesco Ltd. increased its stake in PTC Therapeutics by 178.6%, holding 310,329 shares worth approximately $15.8 million as of the latest SEC filing.
• PTC Therapeutics reported a net revenue of $178.88 million for the last quarter, exceeding the analyst expectations of $173.01 million.
• Analysts maintain an average target price of $69.15 for PTC Therapeutics, with varying ratings from strong buy to sell; Barclays recently upgraded its target price to $46.00.

Invesco Ltd. increased its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 178.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 310,329 shares of the biopharmaceutical company's stock after purchasing an additional 198,938 shares during the quarter. Invesco Ltd. owned 0.39% of PTC Therapeutics worth $15,814,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PTCT. Wells Fargo & Company MN grew its holdings in shares of PTC Therapeutics by 43.1% during the fourth quarter. Wells Fargo & Company MN now owns 38,148 shares of the biopharmaceutical company's stock valued at $1,722,000 after purchasing an additional 11,499 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of PTC Therapeutics in the fourth quarter worth $2,200,000. Sterling Capital Management LLC grew its stake in shares of PTC Therapeutics by 424.4% in the fourth quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company's stock worth $29,000 after purchasing an additional 522 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in PTC Therapeutics during the fourth quarter valued at about $1,061,000. Finally, First Trust Advisors LP boosted its stake in PTC Therapeutics by 24.0% during the fourth quarter. First Trust Advisors LP now owns 133,763 shares of the biopharmaceutical company's stock valued at $6,038,000 after buying an additional 25,881 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $63.00 target price (up previously from $60.00) on shares of PTC Therapeutics in a research note on Friday, August 8th. Robert W. Baird set a $70.00 target price on PTC Therapeutics in a research note on Friday, August 8th. Citigroup raised their target price on PTC Therapeutics from $40.00 to $50.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Bank of America decreased their target price on PTC Therapeutics from $82.00 to $76.00 and set a "buy" rating for the company in a research note on Wednesday, August 20th. Finally, UBS Group raised their target price on PTC Therapeutics from $71.00 to $80.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. One 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 issued a Sell rating to the company's stock. According to data from MarketBeat.com, PTC Therapeutics has a consensus rating of "Moderate Buy" and an average price target of $69.15.

PTC Therapeutics Stock Up 0.0%

Shares of NASDAQ PTCT traded up $0.01 during mid-day trading on Thursday, hitting $49.79. 650,687 shares of the company traded hands, compared to its average volume of 1,345,018. PTC Therapeutics, Inc. has a 1 year low of $30.41 and a 1 year high of $58.38. The stock has a market capitalization of $3.96 billion, a price-to-earnings ratio of 7.14 and a beta of 0.54. The business has a 50 day moving average of $48.76 and a two-hundred day moving average of $49.04.

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

Insider Activity

In related news, CEO Matthew B. Klein sold 10,739 shares of the stock in a transaction dated 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 directly owned 337,767 shares of the company's stock, valued at approximately $17,476,064.58. This represents a 3.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Pierre Gravier sold 2,516 shares of the 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. 5.50% of the stock is currently owned by corporate 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.