PTC Therapeutics, Inc. $PTCT Shares Acquired by Parkman Healthcare Partners LLC

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 boosted its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 58.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 280,314 shares of the biopharmaceutical company's stock after purchasing an additional 102,946 shares during the quarter. PTC Therapeutics comprises about 1.7% of Parkman Healthcare Partners LLC's portfolio, making the stock its 25th biggest position. Parkman Healthcare Partners LLC owned 0.35% of PTC Therapeutics worth $14,285,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Quantbot Technologies LP grew its position in shares of PTC Therapeutics by 545.5% during the 1st quarter. Quantbot Technologies LP now owns 652 shares of the biopharmaceutical company's stock worth $33,000 after buying an additional 551 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in PTC Therapeutics by 84.2% in the first 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 period. GAMMA Investing LLC grew its holdings in 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 acquiring an additional 441 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in PTC Therapeutics during the 1st quarter valued at about $61,000. Finally, GF Fund Management CO. LTD. purchased a new position in PTC Therapeutics during the 4th quarter valued at about $73,000.

PTC Therapeutics Stock Performance

NASDAQ:PTCT traded up $2.63 during mid-day trading on Thursday, hitting $60.96. 1,657,682 shares of the company's stock traded hands, compared to its average volume of 1,099,766. The company has a fifty day moving average of $49.78 and a 200 day moving average of $49.34. PTC Therapeutics, Inc. has a twelve month low of $31.80 and a twelve month high of $61.11. The company has a market capitalization of $4.84 billion, a P/E ratio of 8.75 and a beta of 0.53.

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 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 during the quarter, compared to the consensus estimate of $173.01 million. During the same quarter last year, the company earned ($1.29) earnings per share. The company's quarterly revenue was down 4.2% on a year-over-year basis. PTC Therapeutics has set its FY 2025 guidance at EPS. On average, 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 recently weighed in on PTCT shares. Barclays upped their price target on shares of PTC Therapeutics from $42.00 to $46.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. Bank of America lowered their target price on PTC Therapeutics from $82.00 to $76.00 and set a "buy" rating for the company in a report on Wednesday, August 20th. Wall Street Zen downgraded PTC Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 9th. Robert W. Baird set a $70.00 price target on PTC Therapeutics in a research report on Friday, August 8th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $118.00 price objective on shares of PTC Therapeutics in a research report on Wednesday, September 3rd. 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 company's stock. Based on data from MarketBeat, PTC Therapeutics has a consensus rating of "Moderate Buy" and an average target price of $69.00.

Insider Activity at PTC Therapeutics

In related news, insider Eric Pauwels sold 39,850 shares of the company's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $56.92, for a total value of $2,268,262.00. Following the transaction, the insider directly owned 72,912 shares of the company's stock, valued at $4,150,151.04. This represents a 35.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew B. Klein sold 10,739 shares of PTC Therapeutics stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $51.74, for a total value of $555,635.86. Following the sale, the chief executive officer directly owned 337,767 shares of the company's stock, valued at approximately $17,476,064.58. This represents a 3.08% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,439 shares of company stock worth $3,115,539. 5.50% of the stock is owned by company insiders.

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.