PTC Therapeutics, Inc. $PTCT Shares Acquired by Northern Trust Corp

Key Points

• Northern Trust Corp increased its stake in PTC Therapeutics by 2.2% during the 1st quarter, now owning approximately 744,011 shares valued at $37.9 million.
• PTC Therapeutics reported a quarterly earnings per share of ($0.83), surpassing analyst estimates of ($1.07), but revenue decreased by 4.2% year-over-year.
• Analysts have mixed opinions on PTC Therapeutics, with price targets ranging from $50 to $120, resulting in a consensus rating of "Moderate Buy."

Northern Trust Corp boosted its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 2.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 744,011 shares of the biopharmaceutical company's stock after acquiring an additional 16,035 shares during the period. Northern Trust Corp owned 0.94% of PTC Therapeutics worth $37,915,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC acquired a new stake in PTC Therapeutics in the 1st quarter valued at about $595,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of PTC Therapeutics during the 1st quarter worth about $524,000. Sector Gamma AS boosted its stake in shares of PTC Therapeutics by 41.4% during the 1st quarter. Sector Gamma AS now owns 92,250 shares of the biopharmaceutical company's stock worth $4,701,000 after purchasing an additional 27,000 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of PTC Therapeutics by 262.1% during the 1st quarter. Deutsche Bank AG now owns 341,724 shares of the biopharmaceutical company's stock worth $17,414,000 after purchasing an additional 247,346 shares during the last quarter. Finally, Cerity Partners LLC acquired a new stake in shares of PTC Therapeutics during the 1st quarter worth about $641,000.

Insider Buying and Selling

In other news, CFO Pierre Gravier sold 2,516 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $49.46, for a total transaction 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Matthew B. Klein sold 10,739 shares of the firm'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 transaction of $555,635.86. Following the sale, the chief executive officer directly owned 337,767 shares of the company's stock, valued at $17,476,064.58. The trade was a 3.08% decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.50% of the company's stock.

PTC Therapeutics Stock Up 6.5%

Shares of PTCT traded up $3.22 during mid-day trading on Tuesday, reaching $52.55. 936,865 shares of the stock traded hands, compared to its average volume of 1,077,958. The firm has a market cap of $4.17 billion, a price-to-earnings ratio of 7.51 and a beta of 0.53. The stock has a fifty day simple moving average of $48.73 and a 200 day simple moving average of $49.02. PTC Therapeutics, Inc. has a 12-month low of $30.41 and a 12-month high of $58.38.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last posted 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. The company had revenue of $178.88 million for the quarter, compared to analyst estimates of $173.01 million. PTC Therapeutics had a net margin of 35.65% and a negative return on equity of 106.31%. The business's quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the firm posted ($1.29) earnings per share. PTC Therapeutics has set its FY 2025 guidance at EPS. On average, equities research analysts expect that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on PTCT shares. Citigroup raised their price target on shares of PTC Therapeutics from $40.00 to $50.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. Wells Fargo & Company decreased their price target on shares of PTC Therapeutics from $79.00 to $73.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 20th. Truist Financial raised their price target on shares of PTC Therapeutics from $80.00 to $86.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Cowen reiterated a "hold" rating on shares of PTC Therapeutics in a report on Friday, August 8th. Finally, Morgan Stanley dropped their price target on shares of PTC Therapeutics from $76.00 to $71.00 and set an "overweight" rating for the company in a research report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, PTC Therapeutics has an average rating of "Moderate Buy" and an average price target of $69.15.

PTC Therapeutics 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.