Royce & Associates LP Increases Stock Holdings in PTC Therapeutics, Inc. $PTCT

Key Points

• Royce & Associates LP increased its PTC Therapeutics stake by 146.5% in the fourth quarter, buying an additional 48,015 shares and bringing its total to 80,794 shares worth about $6.14 million.
• PTC Therapeutics reported quarterly earnings of -$0.03 EPS, beating estimates, while revenue rose 43.5% year over year to $272.55 million and topped analysts’ expectations.
• Analysts remain generally positive on PTCT, with a consensus rating of “Moderate Buy” and an average price target of $89, even as insiders have recently sold shares.

Royce & Associates LP lifted its stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 146.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 80,794 shares of the biopharmaceutical company's stock after buying an additional 48,015 shares during the quarter. Royce & Associates LP owned 0.10% of PTC Therapeutics worth $6,137,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Smartleaf Asset Management LLC raised its holdings in shares of PTC Therapeutics by 101.3% during the 3rd quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company's stock valued at $28,000 after buying an additional 236 shares during the period. Allworth Financial LP raised its holdings in shares of PTC Therapeutics by 63.8% during the 4th quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company's stock valued at $48,000 after buying an additional 247 shares during the period. Optiver Holding B.V. raised its holdings in shares of PTC Therapeutics by 96.5% during the 3rd quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company's stock valued at $31,000 after buying an additional 249 shares during the period. IFP Advisors Inc raised its holdings in shares of PTC Therapeutics by 68.1% during the 3rd quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company's stock valued at $47,000 after buying an additional 310 shares during the period. Finally, Arizona State Retirement System raised its holdings in shares of PTC Therapeutics by 2.0% during the 3rd quarter. Arizona State Retirement System now owns 21,101 shares of the biopharmaceutical company's stock valued at $1,295,000 after buying an additional 406 shares during the period.

PTC Therapeutics Price Performance

NASDAQ:PTCT opened at $73.85 on Friday. PTC Therapeutics, Inc. has a 12-month low of $43.17 and a 12-month high of $87.50. The firm has a market capitalization of $6.13 billion, a P/E ratio of -31.70, a P/E/G ratio of 13.25 and a beta of 0.53. The business has a 50 day simple moving average of $69.46 and a 200 day simple moving average of $72.41.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.45) by $0.42. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 22.58%.The business had revenue of $272.55 million during the quarter, compared to analyst estimates of $217.42 million. During the same quarter in the previous 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. Research analysts anticipate that PTC Therapeutics, Inc. will post 0.19 EPS for the current fiscal year.

Insider Buying and Selling at PTC Therapeutics

In other PTC Therapeutics news, insider Neil Gregory Almstead sold 52,003 shares of the business's stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $69.04, for a total transaction of $3,590,287.12. Following the completion of the transaction, the insider owned 60,137 shares in the company, valued at approximately $4,151,858.48. The trade was a 46.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Mark Elliott Boulding sold 3,540 shares of the business's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $78.97, for a total value of $279,553.80. Following the transaction, the vice president owned 105,212 shares of the company's stock, valued at $8,308,591.64. This trade represents a 3.26% 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. Over the last ninety days, insiders have sold 115,022 shares of company stock worth $7,925,979. 5.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

PTCT has been the subject of a number of recent analyst reports. Jefferies Financial Group raised shares of PTC Therapeutics from a "hold" rating to a "buy" rating and raised their price target for the stock from $76.00 to $85.00 in a research report on Wednesday. Bank of America decreased their price target on shares of PTC Therapeutics from $97.00 to $93.00 and set a "buy" rating for the company in a research report on Friday, February 20th. Morgan Stanley reissued an "overweight" rating and set a $94.00 price target on shares of PTC Therapeutics in a research report on Friday, May 8th. Raymond James Financial initiated coverage on shares of PTC Therapeutics in a research report on Friday, April 10th. They set an "outperform" rating and a $108.00 price target for the company. Finally, Barclays reissued an "overweight" rating and set a $120.00 price target on shares of PTC Therapeutics in a research report on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $89.00.

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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