PTC Therapeutics, Inc. $PTCT is Palo Alto Investors LP's 8th Largest Position

Key Points

• Palo Alto Investors LP increased its stake in PTC Therapeutics by 4.6% in the first quarter, owning 404,196 shares valued at approximately $20.6 million, making it the fund's 8th largest holding.
• Analysts have mixed ratings for PTC Therapeutics, with an average rating of "Moderate Buy" and a consensus target price of $69.15, while recent upgrades include price targets rising to as high as $120.00.
• PTC Therapeutics reported earnings that surpassed expectations, with revenue of $178.88 million for the quarter, although this represented a 4.2% decline compared to the same period last year.

Palo Alto Investors LP grew its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 4.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 404,196 shares of the biopharmaceutical company's stock after purchasing an additional 17,783 shares during the period. PTC Therapeutics makes up approximately 3.9% of Palo Alto Investors LP's holdings, making the stock its 8th largest position. Palo Alto Investors LP owned approximately 0.51% of PTC Therapeutics worth $20,598,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Quantbot Technologies LP lifted its holdings in shares of PTC Therapeutics by 545.5% during the first quarter. Quantbot Technologies LP now owns 652 shares of the biopharmaceutical company's stock valued at $33,000 after purchasing an additional 551 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in 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 acquiring an additional 320 shares during the last quarter. GAMMA Investing LLC raised its holdings in PTC Therapeutics by 86.3% in the 1st quarter. GAMMA Investing LLC now owns 952 shares of the biopharmaceutical company's stock worth $49,000 after acquiring an additional 441 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in PTC Therapeutics in the 1st quarter worth approximately $61,000. Finally, GF Fund Management CO. LTD. purchased a new position in PTC Therapeutics in the 4th quarter worth approximately $73,000.

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 completion of the sale, the director 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 legal filing with the SEC, which is available at this link. Also, CFO Pierre Gravier sold 2,516 shares of the stock in a transaction on 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 owned 71,920 shares of the company's stock, valued at $3,557,163.20. The trade was a 3.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,589 shares of company stock valued at $847,277 in the last 90 days. Company insiders own 5.50% of the company's stock.

PTC Therapeutics Trading Down 1.3%

NASDAQ:PTCT traded down $0.75 during trading hours on Friday, reaching $57.26. The company had a trading volume of 1,517,110 shares, compared to its average volume of 1,305,081. PTC Therapeutics, Inc. has a 52 week low of $30.59 and a 52 week high of $58.73. The firm has a market cap of $4.55 billion, a price-to-earnings ratio of 8.22 and a beta of 0.53. The firm's 50 day moving average price is $49.24 and its 200-day moving average price is $49.17.

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 (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $178.88 million during the quarter, compared to the consensus estimate of $173.01 million. During the same quarter in the previous year, the firm posted ($1.29) EPS. The company's revenue for the quarter was down 4.2% compared to the same quarter last year. PTC Therapeutics has set its FY 2025 guidance at EPS. On average, analysts forecast that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PTCT. Morgan Stanley decreased their price objective on shares of PTC Therapeutics from $76.00 to $71.00 and set an "overweight" rating for the company in a report on Wednesday, August 20th. Cowen restated a "hold" rating 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. Finally, Robert W. Baird set a $70.00 target price on shares of PTC Therapeutics in a research report on Friday, August 8th. Nine analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $69.00.

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.