PTC Therapeutics, Inc. $PTCT Position Increased by Sector Gamma AS

Key Points

• Sector Gamma AS increased its stake in PTC Therapeutics by 41.4% during the first quarter, holding 92,250 shares worth approximately $4.7 million.
• PTC Therapeutics reported a loss of ($0.83) earnings per share for the last quarter, but surpassed the consensus estimate of ($1.07) by $0.24.
• Analysts have set a consensus price target of $70.15 for PTC Therapeutics, with several firms raising their price objectives, indicating positive market sentiment.

Sector Gamma AS lifted its position in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 41.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 92,250 shares of the biopharmaceutical company's stock after purchasing an additional 27,000 shares during the period. PTC Therapeutics accounts for about 1.5% of Sector Gamma AS's investment portfolio, making the stock its 24th biggest position. Sector Gamma AS owned approximately 0.12% of PTC Therapeutics worth $4,701,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PTCT. Sterling Capital Management LLC grew its position in PTC Therapeutics by 424.4% during the 4th quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company's stock worth $29,000 after purchasing an additional 522 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in PTC Therapeutics by 84.2% during the first 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 increased its holdings 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. GF Fund Management CO. LTD. purchased a new stake in shares of PTC Therapeutics in the 4th quarter valued at approximately $73,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of PTC Therapeutics in the fourth quarter valued at approximately $77,000.

PTC Therapeutics Price Performance

Shares of PTCT traded down $0.21 during trading hours on Tuesday, reaching $49.59. 3,236,533 shares of the company's stock traded hands, compared to its average volume of 1,088,126. PTC Therapeutics, Inc. has a twelve month low of $30.41 and a twelve month high of $58.38. The business's fifty day simple moving average is $49.00 and its two-hundred day simple moving average is $49.04. The firm has a market capitalization of $3.94 billion, a price-to-earnings ratio of 7.11 and a beta of 0.54.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last released 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. The firm 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 quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the company earned ($1.29) EPS. PTC Therapeutics has set its FY 2025 guidance at EPS. On average, equities research analysts expect that PTC Therapeutics, Inc. will post -4.52 EPS for the current year.

Insider Activity at PTC Therapeutics

In other PTC Therapeutics news, CEO Matthew B. Klein sold 10,739 shares of the company's stock in a transaction that occurred on 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 in the company, valued at $17,476,064.58. This represents a 3.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Pierre Gravier sold 2,516 shares of the company's stock in a transaction 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 completion of the sale, the chief financial officer owned 71,920 shares of the company's stock, 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. 5.50% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company boosted their target price on PTC Therapeutics from $78.00 to $79.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. JPMorgan Chase & Co. dropped their price target on PTC Therapeutics from $75.00 to $67.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Cantor Fitzgerald upped their price target on shares of PTC Therapeutics from $112.00 to $120.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Barclays increased their target price on PTC Therapeutics from $42.00 to $46.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 29th. Finally, Citigroup upped their target price on PTC Therapeutics from $40.00 to $50.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $70.15.

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.