Wellington Management Group LLP Raises Stake in PTC Therapeutics, Inc. $PTCT

Wellington Management Group LLP increased its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 4.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,128,273 shares of the biopharmaceutical company's stock after purchasing an additional 185,663 shares during the period. Wellington Management Group LLP owned 4.95% of PTC Therapeutics worth $336,743,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in PTC Therapeutics in the second quarter valued at $1,139,089,000. Vanguard Group Inc. increased its position in shares of PTC Therapeutics by 6.2% during the fourth quarter. Vanguard Group Inc. now owns 8,803,203 shares of the biopharmaceutical company's stock valued at $668,691,000 after acquiring an additional 514,204 shares during the last quarter. Jupiter Topco LLC acquired a new position in shares of PTC Therapeutics in the 2nd quarter worth approximately $590,182,000. Janus Henderson Group PLC increased its holdings in PTC Therapeutics by 48.3% in the 1st quarter. Janus Henderson Group PLC now owns 7,193,433 shares of the biopharmaceutical company's stock valued at $489,997,000 after purchasing an additional 2,342,101 shares during the last quarter. Finally, State Street Corp lifted its stake in PTC Therapeutics by 34.2% during the fourth quarter. State Street Corp now owns 4,206,126 shares of the biopharmaceutical company's stock worth $319,497,000 after purchasing an additional 1,071,343 shares in the last quarter.

PTC Therapeutics Stock Performance

Shares of PTCT opened at $70.09 on Monday. The company has a market capitalization of $5.85 billion, a price-to-earnings ratio of -120.84, a price-to-earnings-growth ratio of 2.16 and a beta of 0.56. PTC Therapeutics, Inc. has a fifty-two week low of $48.96 and a fifty-two week high of $90.87. The firm has a 50-day simple moving average of $77.08 and a 200-day simple moving average of $72.26.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.24 by $0.68. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 3.80%.The business had revenue of $360.52 million during the quarter, compared to analysts' expectations of $298.63 million. During the same quarter in the prior year, the business earned ($0.83) earnings per share. The company's quarterly revenue was up 101.5% compared to the same quarter last year. Equities research analysts forecast that PTC Therapeutics, Inc. will post 1.17 EPS for the current year.

Analysts Set New Price Targets

PTCT has been the topic of a number of recent research reports. Wells Fargo & Company boosted their price target on shares of PTC Therapeutics from $106.00 to $109.00 and gave the stock an "overweight" rating in a research note on Thursday, August 13th. Citigroup raised PTC Therapeutics from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $75.00 to $108.00 in a research report on Tuesday, June 9th. Wall Street Zen downgraded shares of PTC Therapeutics from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 22nd. Weiss Ratings cut PTC Therapeutics from a "sell (d+)" rating to a "sell (d)" rating in a research note on Monday, August 17th. Finally, TD Cowen upgraded PTC Therapeutics from a "hold" rating to a "buy" rating and boosted their target price for the stock from $75.00 to $90.00 in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $98.55.

Insider Buying and Selling

In other news, insider Neil Gregory Almstead sold 2,464 shares of the stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $90.25, for a total value of $222,376.00. Following the completion of the transaction, the insider owned 60,299 shares in the company, valued at $5,441,984.75. This trade represents a 3.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Schmertzler sold 12,500 shares of the stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $72.94, for a total transaction of $911,750.00. Following the completion of the transaction, the director directly owned 1,349,094 shares of the company's stock, valued at approximately $98,402,916.36. This trade represents a 0.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 217,843 shares of company stock valued at $17,686,454 in the last quarter. Corporate insiders own 5.30% of the company's stock.

PTC Therapeutics Company 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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