PTC Therapeutics, Inc. $PTCT Shares Sold by Hillsdale Investment Management Inc.

Key Points

• Hillsdale Investment Management cut its PTC Therapeutics stake by 16.9% in the fourth quarter, leaving it with 75,706 shares worth about $5.75 million.
• Analyst sentiment remains mostly positive, with a Moderate Buy consensus and an average price target of $89, though Wall Street Zen downgraded the stock to hold while several firms reaffirmed buy/overweight ratings.
• PTC Therapeutics reported better-than-expected Q1 results, with revenue of $272.55 million and adjusted EPS of -$0.03, beating estimates; the stock was trading around $73.85, up 3.9% on the day.

Hillsdale Investment Management Inc. lowered its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 16.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 75,706 shares of the biopharmaceutical company's stock after selling 15,430 shares during the quarter. Hillsdale Investment Management Inc. owned approximately 0.09% of PTC Therapeutics worth $5,751,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of PTCT. Empowered Funds LLC acquired a new stake in PTC Therapeutics during the first quarter worth approximately $1,999,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in PTC Therapeutics by 11.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 178,755 shares of the biopharmaceutical company's stock worth $9,109,000 after acquiring an additional 18,504 shares during the last quarter. Quantbot Technologies LP boosted its position in PTC Therapeutics by 280.1% during the second quarter. Quantbot Technologies LP now owns 2,478 shares of the biopharmaceutical company's stock worth $121,000 after acquiring an additional 1,826 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in PTC Therapeutics during the second quarter worth approximately $1,661,000. Finally, EverSource Wealth Advisors LLC boosted its position in PTC Therapeutics by 247.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,143 shares of the biopharmaceutical company's stock worth $56,000 after acquiring an additional 814 shares during the last quarter.

Analyst Ratings Changes

A number of analysts recently issued reports on PTCT shares. Wall Street Zen lowered shares of PTC Therapeutics from a "buy" rating to a "hold" rating in a research report on Saturday, February 21st. Cantor Fitzgerald restated an "overweight" rating on shares of PTC Therapeutics in a research report on Friday, February 20th. Bank of America decreased their target price on shares of PTC Therapeutics from $97.00 to $93.00 and set a "buy" rating on the stock in a research report on Friday, February 20th. Wells Fargo & Company raised their target price on shares of PTC Therapeutics from $86.00 to $95.00 and gave the stock an "overweight" rating in a research report on Friday, May 8th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $94.00 price target on shares of PTC Therapeutics in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, PTC Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $89.00.

Insider Activity

In related news, Director Stephanie Okey sold 15,167 shares of PTC Therapeutics stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $70.00, for a total transaction of $1,061,690.00. Following the sale, the director owned 8,000 shares of the company's stock, valued at $560,000. The trade was a 65.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Mark Elliott Boulding sold 2,812 shares of PTC Therapeutics stock in a transaction on Friday, May 15th. The stock was sold at an average price of $72.18, for a total transaction of $202,970.16. Following the sale, the vice president directly owned 105,212 shares in the company, valued at $7,594,202.16. This trade represents a 2.60% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 115,022 shares of company stock worth $7,925,979 over the last three months. 5.50% of the stock is currently owned by corporate insiders.

PTC Therapeutics Trading Up 3.9%

Shares of PTCT stock opened at $73.85 on Friday. The company's fifty day simple moving average is $69.46 and its 200-day simple moving average is $72.41. PTC Therapeutics, Inc. has a 52 week low of $43.17 and a 52 week high of $87.50. The company has a market cap of $6.13 billion, a PE ratio of -31.70, a P/E/G ratio of 13.77 and a beta of 0.53.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) EPS for the quarter, beating analysts' consensus estimates of ($0.45) by $0.42. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. The business had revenue of $272.55 million for the quarter, compared to the consensus estimate of $217.42 million. During the same quarter last year, the firm posted $10.04 EPS. The business's revenue for the quarter was up 43.5% compared to the same quarter last year. Equities research analysts expect that PTC Therapeutics, Inc. will post 0.4 EPS for the current fiscal year.

PTC Therapeutics Profile

PTC Therapeutics, Inc is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule and biologic therapies for the treatment of rare genetic disorders. Since its founding in 1998, PTC has dedicated its efforts to addressing high unmet medical needs by targeting underlying genetic causes of disease. The company's research platform emphasizes mechanisms such as nonsense suppression and RNA modulation, enabling the development of novel treatments for conditions with limited therapeutic options.

Among PTC's approved products is Translarna (ataluren), a first-in-class therapy designed to treat nonsense mutation Duchenne muscular dystrophy in select markets.

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