PTC Therapeutics, Inc. $PTCT Shares Acquired by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. increased its holdings in PTC Therapeutics by 86.9% in Q2, owning 631,622 shares valued at approximately $30.85 million.
• Recent analyst ratings for PTC Therapeutics indicate a mix of sentiments, with nine analysts rating it as a "Buy" and an average price target set at $69.00.
• Insider transactions show notable stock sales, including Director Allan Steven Jacobson selling shares valued at approximately $83,600, indicating a 8.72% decrease in ownership.

Assenagon Asset Management S.A. grew its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 86.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 631,622 shares of the biopharmaceutical company's stock after purchasing an additional 293,662 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.80% of PTC Therapeutics worth $30,848,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC purchased a new position in PTC Therapeutics during the 1st quarter valued at about $595,000. Allspring Global Investments Holdings LLC bought a new stake in shares of PTC Therapeutics during the 1st quarter valued at about $524,000. Sector Gamma AS boosted its position 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 valued at $4,701,000 after acquiring an additional 27,000 shares during the last quarter. Deutsche Bank AG boosted its position 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 valued at $17,414,000 after acquiring an additional 247,346 shares during the last quarter. Finally, Cerity Partners LLC bought a new stake in shares of PTC Therapeutics during the 1st quarter valued at about $641,000.

Insiders Place Their Bets

In other news, Director Emma Reeve sold 15,705 shares of the company's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $59.50, for a total transaction of $934,447.50. Following the transaction, the director directly owned 10,332 shares of the company's stock, valued at $614,754. This represents a 60.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David P. Southwell sold 12,000 shares of the company's stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $58.34, for a total value of $700,080.00. Following the transaction, the director directly owned 16,850 shares in the company, valued at approximately $983,029. The trade was a 41.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 131,393 shares of company stock valued at $7,640,615. Company insiders own 5.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PTCT shares. Barclays lifted their price target on PTC Therapeutics from $42.00 to $46.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 29th. Cantor Fitzgerald reiterated an "overweight" rating and set a $118.00 price target on shares of PTC Therapeutics in a research report on Wednesday, September 3rd. Bank of America dropped their price target on PTC Therapeutics from $82.00 to $76.00 and set a "buy" rating for the company in a research report on Wednesday, August 20th. Truist Financial boosted their target price on PTC Therapeutics from $80.00 to $86.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Finally, UBS Group boosted their target price on PTC Therapeutics from $71.00 to $80.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Nine investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $69.00.

PTC Therapeutics Price Performance

PTCT stock traded up $0.37 during midday trading on Monday, hitting $60.85. The stock had a trading volume of 970,031 shares, compared to its average volume of 1,277,147. The firm has a market cap of $4.83 billion, a price-to-earnings ratio of 8.73 and a beta of 0.53. The business has a 50-day moving average of $51.70 and a two-hundred day moving average of $49.79. PTC Therapeutics, Inc. has a 52-week low of $34.57 and a 52-week high of $63.19.

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, topping 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 for the quarter, compared to the consensus estimate of $173.01 million. During the same period in the previous year, the company posted ($1.29) earnings per share. 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. Research analysts predict that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current year.

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.