PTC Therapeutics, Inc. (NASDAQ:PTCT) Shares Sold by Y Intercept Hong Kong Ltd

Key Points

• Y Intercept Hong Kong Ltd reduced its stake in PTC Therapeutics by 54.8%, selling 6,043 shares, leaving them with 4,981 shares valued at approximately $254,000.
• Analyst ratings for PTC Therapeutics show a mixed outlook with JPMorgan lowering their target price while Cantor Fitzgerald raised theirs, indicating a consensus rating of "Moderate Buy" with an average price target of $69.38.
• PTC Therapeutics reported an EPS of $10.04 for the quarter, vastly exceeding analysts' expectations, but revenue showed a 9.6% decline compared to the previous year.

Y Intercept Hong Kong Ltd lowered its position in PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) by 54.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,981 shares of the biopharmaceutical company's stock after selling 6,043 shares during the period. Y Intercept Hong Kong Ltd's holdings in PTC Therapeutics were worth $254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in PTCT. American Century Companies Inc. lifted its stake in PTC Therapeutics by 66.8% in the fourth quarter. American Century Companies Inc. now owns 60,150 shares of the biopharmaceutical company's stock worth $2,715,000 after purchasing an additional 24,090 shares during the last quarter. Sei Investments Co. bought a new stake in shares of PTC Therapeutics during the fourth quarter valued at approximately $238,000. KLP Kapitalforvaltning AS bought a new stake in shares of PTC Therapeutics during the fourth quarter valued at approximately $646,000. Vanguard Group Inc. raised its stake in shares of PTC Therapeutics by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 9,178,822 shares of the biopharmaceutical company's stock valued at $414,332,000 after acquiring an additional 53,688 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of PTC Therapeutics by 62.9% during the fourth quarter. Alliancebernstein L.P. now owns 361,644 shares of the biopharmaceutical company's stock valued at $16,325,000 after acquiring an additional 139,596 shares in the last quarter.

Analysts Set New Price Targets

Several research firms have recently weighed in on PTCT. UBS Group lifted their price target on shares of PTC Therapeutics from $71.00 to $80.00 and gave the company a "buy" rating in a research note on Tuesday. Wells Fargo & Company lifted their price target on shares of PTC Therapeutics from $74.00 to $78.00 and gave the company an "overweight" rating in a research note on Tuesday. Cantor Fitzgerald lifted their price target on shares of PTC Therapeutics from $112.00 to $120.00 and gave the company an "overweight" rating in a research note on Tuesday. Citigroup lifted their price objective on shares of PTC Therapeutics from $40.00 to $50.00 and gave the company a "neutral" rating in a report on Monday. Finally, Royal Bank Of Canada lifted their price objective on shares of PTC Therapeutics from $57.00 to $58.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $69.38.

Insider Buying and Selling at PTC Therapeutics

In other news, VP Mark Elliott Boulding sold 883 shares of PTC Therapeutics stock in a transaction on Friday, May 16th. The shares were sold at an average price of $46.02, for a total transaction of $40,635.66. Following the completion of the sale, the vice president directly owned 103,901 shares in the company, valued at approximately $4,781,524.02. The trade was a 0.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Pierre Gravier sold 2,516 shares of the business's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $49.46, for a total transaction of $124,441.36. Following the transaction, the chief financial officer owned 71,920 shares of the company's stock, valued at $3,557,163.20. This represents a 3.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,328 shares of company stock valued at $254,158 over the last quarter. Insiders own 5.50% of the company's stock.

PTC Therapeutics Price Performance

NASDAQ PTCT traded up $1.17 on Thursday, hitting $52.11. The stock had a trading volume of 2,303,602 shares, compared to its average volume of 1,023,425. PTC Therapeutics, Inc. has a 52-week low of $29.01 and a 52-week high of $58.38. The business's fifty day moving average price is $48.95 and its 200 day moving average price is $48.58. The stock has a market cap of $4.13 billion, a price-to-earnings ratio of 8.00 and a beta of 0.50.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported $10.04 EPS for the quarter, topping the consensus estimate of $0.85 by $9.19. PTC Therapeutics had a net margin of 33.56% and a negative return on equity of 78.56%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $437.16 million. During the same period in the previous year, the firm posted ($1.20) earnings per share. The business's revenue for the quarter was down 9.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that PTC Therapeutics, Inc. will post -4.52 EPS for the current year.

PTC Therapeutics Company 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.