Vanguard Group Inc. Has $438.63 Million Stock Position in PTC Therapeutics, Inc. $PTCT

Key Points

• Vanguard Group Inc. has reduced its stake in PTC Therapeutics by 6.2%, owning approximately 10.86% of the company, valued at about $438.63 million.
• PTC Therapeutics reported $178.88 million in revenue for the recent quarter, exceeding expectations, but experienced a year-over-year decline of 4.2%.
• Wall Street analysts have varying views on PTC Therapeutics, with an average target price of $70.15 and multiple analysts issuing buy ratings, indicating a Moderate Buy consensus.

Vanguard Group Inc. lowered its position in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 6.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,607,372 shares of the biopharmaceutical company's stock after selling 571,450 shares during the period. Vanguard Group Inc. owned 10.86% of PTC Therapeutics worth $438,632,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Toronto Dominion Bank bought a new position in shares of PTC Therapeutics in the fourth quarter valued at approximately $148,363,000. Driehaus Capital Management LLC bought a new position in shares of PTC Therapeutics in the fourth quarter valued at approximately $46,993,000. Point72 Asset Management L.P. raised its position in shares of PTC Therapeutics by 150.6% in the fourth quarter. Point72 Asset Management L.P. now owns 1,443,362 shares of the biopharmaceutical company's stock valued at $65,153,000 after purchasing an additional 867,502 shares during the period. Janus Henderson Group PLC raised its position in shares of PTC Therapeutics by 24.4% in the fourth quarter. Janus Henderson Group PLC now owns 2,325,915 shares of the biopharmaceutical company's stock valued at $105,015,000 after purchasing an additional 455,698 shares during the period. Finally, MPM Bioimpact LLC grew its stake in shares of PTC Therapeutics by 384.6% in the fourth quarter. MPM Bioimpact LLC now owns 434,767 shares of the biopharmaceutical company's stock worth $19,625,000 after acquiring an additional 345,052 shares during the last quarter.

PTC Therapeutics Price Performance

Shares of PTC Therapeutics stock traded up $0.3410 during trading on Tuesday, hitting $50.1410. 1,919,800 shares of the company were exchanged, compared to its average volume of 1,081,594. The firm's fifty day moving average price is $49.00 and its 200 day moving average price is $49.04. PTC Therapeutics, Inc. has a 1-year low of $30.41 and a 1-year high of $58.38. The firm has a market capitalization of $3.98 billion, a P/E ratio of 7.21 and a beta of 0.54.

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

Insider Buying and Selling

In related news, CFO Pierre Gravier sold 2,516 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $49.46, for a total value of $124,441.36. Following the sale, the chief financial officer owned 71,920 shares in the company, valued at approximately $3,557,163.20. This represents a 3.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew B. Klein sold 10,739 shares of the stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $51.74, for a total value of $555,635.86. Following the completion of the sale, the chief executive officer owned 337,767 shares in the company, valued at approximately $17,476,064.58. This trade represents a 3.08% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.50% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Royal Bank Of Canada restated an "outperform" rating and issued a $63.00 price objective (up previously from $60.00) on shares of PTC Therapeutics in a research note on Friday, August 8th. JPMorgan Chase & Co. decreased their price target on shares of PTC Therapeutics from $75.00 to $67.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. Wall Street Zen downgraded shares of PTC Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Saturday, August 9th. Citigroup lifted their price target on shares of PTC Therapeutics from $40.00 to $50.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. Finally, Cantor Fitzgerald lifted their price target on shares of PTC Therapeutics from $112.00 to $120.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $70.15.

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.