State of Alaska Department of Revenue Increases Holdings in PTC Therapeutics, Inc. $PTCT

Key Points

• The State of Alaska Department of Revenue increased its stake in PTC Therapeutics by 952.6% in Q4 to 45,346 shares (about 0.06% of the company), worth roughly $3.44 million.
• PTC reported quarterly EPS of ($1.67), missing estimates by $1.46, and revenue of $164.7M versus $281.5M expected, a 22.7% year‑over‑year decline.
• Company insiders sold a total of 123,642 shares worth $8.43 million in the past three months (insiders own 5.5%), while analysts hold a "Moderate Buy" consensus with an average target of $84.40.

State of Alaska Department of Revenue lifted its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 952.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,346 shares of the biopharmaceutical company's stock after acquiring an additional 41,038 shares during the quarter. State of Alaska Department of Revenue owned 0.06% of PTC Therapeutics worth $3,444,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Smartleaf Asset Management LLC boosted its stake 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 worth $28,000 after acquiring an additional 236 shares in the last quarter. Optiver Holding B.V. boosted its stake 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 worth $31,000 after acquiring an additional 249 shares in the last quarter. Comerica Bank boosted its stake in shares of PTC Therapeutics by 868.5% during the 3rd quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company's stock worth $32,000 after acquiring an additional 469 shares in the last quarter. IFP Advisors Inc boosted its stake 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 worth $47,000 after acquiring an additional 310 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of PTC Therapeutics by 247.4% during the 2nd 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 in the last quarter.

PTC Therapeutics Price Performance

Shares of PTC Therapeutics stock opened at $71.70 on Friday. PTC Therapeutics, Inc. has a 1 year low of $35.95 and a 1 year high of $87.50. The company has a market capitalization of $5.93 billion, a P/E ratio of 9.26 and a beta of 0.55. The business has a 50 day moving average price of $68.32 and a 200 day moving average price of $71.65.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($1.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($1.46). The company had revenue of $164.68 million for the quarter, compared to analyst estimates of $281.45 million. PTC Therapeutics had a negative return on equity of 362.45% and a net margin of 39.44%.The company's revenue for the quarter was down 22.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.85) earnings per share. As a group, research analysts expect that PTC Therapeutics, Inc. will post -4.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PTCT has been the subject of several research reports. Cantor Fitzgerald restated an "overweight" rating on shares of PTC Therapeutics in a research report on Friday, February 20th. TD Cowen restated a "hold" rating on shares of PTC Therapeutics in a research report on Thursday, January 29th. Weiss Ratings restated a "hold (c)" rating on shares of PTC Therapeutics in a research report on Monday, December 29th. Raymond James Financial initiated coverage on PTC Therapeutics in a research report on Friday, April 10th. They set an "outperform" rating and a $108.00 price objective for the company. Finally, Wall Street Zen downgraded PTC Therapeutics from a "buy" rating to a "hold" rating in a research report on Saturday, February 21st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $84.40.

Insider Buying and Selling

In other PTC Therapeutics news, EVP Lee Scott Golden sold 10,000 shares of the business's stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $63.38, for a total value of $633,800.00. Following the completion of the transaction, the executive vice president directly owned 79,944 shares in the company, valued at approximately $5,066,850.72. The trade was a 11.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Stephanie Okey sold 15,167 shares of the business's stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $70.00, for a total value of $1,061,690.00. Following the completion of the transaction, the director owned 8,000 shares of the company's stock, valued at $560,000. This trade represents a 65.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 123,642 shares of company stock worth $8,432,528 in the last three months. 5.50% of the stock is currently owned by insiders.

About PTC Therapeutics

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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