PTC Therapeutics, Inc. $PTCT Shares Bought by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP increased its stake in PTC Therapeutics, owning 5,419,172 shares valued at approximately $276.16 million, representing a 13.2% boost during the 1st quarter.
• PTC Therapeutics has received mixed analyst ratings, with target prices ranging from $40.00 to $86.00 and a consensus rating of "Moderate Buy."
• In its latest earnings report, PTC Therapeutics surpassed earnings estimates, posting a loss of ($0.83) per share against a consensus expectation of ($1.07).

Wellington Management Group LLP lifted its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 13.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 5,419,172 shares of the biopharmaceutical company's stock after purchasing an additional 632,049 shares during the period. Wellington Management Group LLP owned about 6.84% of PTC Therapeutics worth $276,161,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Cladis Investment Advisory LLC purchased a new stake in shares of PTC Therapeutics in the 1st quarter worth approximately $204,000. Northern Trust Corp lifted its position in shares of PTC Therapeutics by 2.2% in the 1st quarter. Northern Trust Corp now owns 744,011 shares of the biopharmaceutical company's stock worth $37,915,000 after purchasing an additional 16,035 shares during the period. Sector Gamma AS lifted its position in shares of PTC Therapeutics by 41.4% in the 1st quarter. Sector Gamma AS now owns 92,250 shares of the biopharmaceutical company's stock worth $4,701,000 after purchasing an additional 27,000 shares during the period. Public Sector Pension Investment Board purchased a new stake in shares of PTC Therapeutics in the 1st quarter worth approximately $5,096,000. Finally, Nuveen LLC purchased a new stake in PTC Therapeutics during the first quarter valued at approximately $51,427,000.

Analysts Set New Price Targets

A number of research firms recently commented on PTCT. Truist Financial increased their target price on shares of PTC Therapeutics from $80.00 to $86.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. JPMorgan Chase & Co. decreased their target price on shares of PTC Therapeutics from $75.00 to $67.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Cowen reissued a "hold" rating on shares of PTC Therapeutics in a research report on Friday, August 8th. Barclays increased their target price on shares of PTC Therapeutics from $42.00 to $46.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 29th. Finally, Robert W. Baird set a $70.00 target price on shares of PTC Therapeutics in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $69.15.

PTC Therapeutics Trading Up 3.4%

Shares of NASDAQ PTCT traded up $1.65 during midday trading on Friday, reaching $50.57. The company had a trading volume of 1,050,679 shares, compared to its average volume of 1,532,044. The business's 50-day simple moving average is $48.86 and its 200 day simple moving average is $49.04. The stock has a market cap of $4.02 billion, a P/E ratio of 7.26 and a beta of 0.54. PTC Therapeutics, Inc. has a 1 year low of $30.41 and a 1 year high of $58.38.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $178.88 million for the quarter, compared to analyst estimates of $173.01 million. PTC Therapeutics had a net margin of 35.65% and a negative return on equity of 106.31%. The business's quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.29) earnings per share. PTC Therapeutics has set its FY 2025 guidance at EPS. Analysts predict that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current year.

Insiders Place Their Bets

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

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.