Parkman Healthcare Partners LLC Acquires 102,946 Shares of PTC Therapeutics, Inc. $PTCT

Key Points

• Parkman Healthcare Partners LLC increased its stake in PTC Therapeutics by 58% in Q1, now holding 280,314 shares worth approximately $14.29 million.
• PTC Therapeutics reported a quarterly loss of ($0.83) EPS, surpassing estimates, with revenues reaching $178.88 million, despite a 4.2% decline year-over-year.
• PTC Therapeutics stock has a current market cap of $4.55 billion and analysts have mixed ratings, with a consensus price target of $69.00.

Parkman Healthcare Partners LLC increased its stake in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 58.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 280,314 shares of the biopharmaceutical company's stock after acquiring an additional 102,946 shares during the quarter. PTC Therapeutics makes up 1.7% of Parkman Healthcare Partners LLC's holdings, making the stock its 25th largest holding. Parkman Healthcare Partners LLC owned about 0.35% of PTC Therapeutics worth $14,285,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in PTC Therapeutics by 0.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,681 shares of the biopharmaceutical company's stock valued at $2,967,000 after purchasing an additional 205 shares during the last quarter. Xponance Inc. boosted its position in PTC Therapeutics by 5.2% during the first quarter. Xponance Inc. now owns 6,372 shares of the biopharmaceutical company's stock valued at $325,000 after purchasing an additional 314 shares during the last quarter. PNC Financial Services Group Inc. boosted its position 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 valued at $36,000 after purchasing an additional 320 shares during the last quarter. Diversified Trust Co boosted its position in PTC Therapeutics by 2.0% during the first quarter. Diversified Trust Co now owns 17,147 shares of the biopharmaceutical company's stock valued at $874,000 after purchasing an additional 329 shares during the last quarter. Finally, GF Fund Management CO. LTD. boosted its position in PTC Therapeutics by 21.9% during the first quarter. GF Fund Management CO. LTD. now owns 1,974 shares of the biopharmaceutical company's stock valued at $101,000 after purchasing an additional 355 shares during the last quarter.

Analysts Set New Price Targets

A number of analysts recently issued reports on PTCT shares. Cantor Fitzgerald reissued an "overweight" rating and set a $118.00 price objective on shares of PTC Therapeutics in a research report on Wednesday, September 3rd. Truist Financial boosted their price target on PTC Therapeutics from $80.00 to $86.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $63.00 price target (up previously from $60.00) on shares of PTC Therapeutics in a research report on Friday, August 8th. UBS Group boosted their price target on PTC Therapeutics from $71.00 to $80.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Finally, Morgan Stanley dropped their price objective on PTC Therapeutics from $76.00 to $71.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 20th. Nine analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $69.00.

Insider Activity at PTC Therapeutics

In related news, CFO Pierre Gravier sold 2,516 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $49.46, for a total transaction of $124,441.36. Following the completion of the transaction, the chief financial officer owned 71,920 shares in the company, valued at $3,557,163.20. This trade represents a 3.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew B. Klein sold 10,739 shares of the company's stock in a transaction on Tuesday, August 5th. The shares were 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 owned 337,767 shares in the company, valued at $17,476,064.58. This trade represents a 3.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,589 shares of company stock worth $847,277 over the last three months. Company insiders own 5.50% of the company's stock.

PTC Therapeutics Trading Up 0.6%

PTCT traded up $0.34 on Tuesday, hitting $57.29. 71,225 shares of the stock traded hands, compared to its average volume of 1,090,347. PTC Therapeutics, Inc. has a 52 week low of $30.98 and a 52 week high of $58.73. The firm has a market capitalization of $4.55 billion, a PE ratio of 8.22 and a beta of 0.53. The business has a fifty day moving average price of $49.40 and a two-hundred day moving average price of $49.21.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.83) earnings per share (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 firm had revenue of $178.88 million for the quarter, compared to analyst estimates of $173.01 million. During the same period in the previous year, the company posted ($1.29) earnings per share. The company's quarterly revenue was down 4.2% compared to the same quarter last year. PTC Therapeutics has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that PTC Therapeutics, Inc. will post -4.52 EPS for the current fiscal year.

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.