Strs Ohio Takes Position in PTC Therapeutics, Inc. $PTCT

Key Points

• Strs Ohio has acquired a new stake in PTC Therapeutics, Inc., purchasing 8,600 shares valued at approximately $438,000 during the first quarter.
• Various institutional investors, including PNC Financial Services Group and GAMMA Investing LLC, have notably increased their stakes in PTC Therapeutics during the same period.
• Analysts have mixed ratings for PTC Therapeutics, with a consensus rating of "Moderate Buy" and a target price of $69.00, indicating confidence in the company's future performance.

Strs Ohio purchased a new stake in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 8,600 shares of the biopharmaceutical company's stock, valued at approximately $438,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Xponance Inc. boosted its stake in PTC Therapeutics by 5.2% in the first quarter. Xponance Inc. now owns 6,372 shares of the biopharmaceutical company's stock worth $325,000 after purchasing an additional 314 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 valued at $36,000 after buying an additional 320 shares during the period. Diversified Trust Co lifted its stake in PTC Therapeutics by 2.0% in the first quarter. Diversified Trust Co now owns 17,147 shares of the biopharmaceutical company's stock valued at $874,000 after buying an additional 329 shares during the period. GF Fund Management CO. LTD. increased its holdings in shares of PTC Therapeutics by 21.9% in the first quarter. GF Fund Management CO. LTD. now owns 1,974 shares of the biopharmaceutical company's stock worth $101,000 after acquiring an additional 355 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of PTC Therapeutics by 86.3% in the first 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.

Analyst Upgrades and Downgrades

PTCT has been the subject of a number of research reports. Royal Bank Of Canada reiterated an "outperform" rating and set a $63.00 price objective (up from $60.00) on shares of PTC Therapeutics in a report on Friday, August 8th. Wells Fargo & Company cut their price objective on PTC Therapeutics from $79.00 to $73.00 and set an "overweight" rating for the company in a research report on Wednesday, August 20th. Cowen reissued a "hold" rating on shares of PTC Therapeutics in a report on Friday, August 8th. Cantor Fitzgerald reissued an "overweight" rating and set a $118.00 target price on shares of PTC Therapeutics in a report on Wednesday, September 3rd. Finally, Citigroup increased their target price on PTC Therapeutics from $40.00 to $50.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Nine investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, PTC Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $69.00.

Insiders Place Their Bets

In related news, Director David P. Southwell sold 12,000 shares of PTC Therapeutics stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $58.34, for a total transaction of $700,080.00. Following the transaction, the director owned 16,850 shares of the company's stock, valued at $983,029. The trade was a 41.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Eric Pauwels sold 39,850 shares of PTC Therapeutics 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 sale, the insider owned 72,912 shares in the company, valued at $4,150,151.04. This trade represents a 35.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 131,393 shares of company stock valued at $7,640,615 in the last 90 days. Company insiders own 5.50% of the company's stock.

PTC Therapeutics Trading Up 0.6%

Shares of PTCT stock opened at $60.85 on Tuesday. The stock has a market cap of $4.83 billion, a price-to-earnings ratio of 8.73 and a beta of 0.53. The stock has a 50-day moving average of $51.70 and a 200-day moving average of $49.79. PTC Therapeutics, Inc. has a 1-year low of $34.57 and a 1-year high of $63.19.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.83) earnings per share for the quarter, topping analysts' consensus estimates of ($1.07) by $0.24. The business had revenue of $178.88 million during the quarter, compared to the consensus estimate of $173.01 million. PTC Therapeutics had a negative return on equity of 106.31% and a net margin of 35.65%.The firm's revenue for the quarter was down 4.2% on a year-over-year basis. During the same period in the previous year, the company posted ($1.29) earnings per share. PTC Therapeutics has set its FY 2025 guidance at EPS. Sell-side analysts forecast that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current 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.

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