PTC Therapeutics, Inc. $PTCT Holdings Decreased by Vanguard Group Inc.

Vanguard Group Inc. lessened its stake in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 6.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,288,999 shares of the biopharmaceutical company’s stock after selling 558,468 shares during the period. Vanguard Group Inc. owned 10.43% of PTC Therapeutics worth $508,696,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. State of New Jersey Common Pension Fund D lifted its stake in shares of PTC Therapeutics by 5.1% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 43,480 shares of the biopharmaceutical company’s stock worth $2,668,000 after acquiring an additional 2,104 shares during the period. LSV Asset Management bought a new stake in PTC Therapeutics during the third quarter worth approximately $166,000. Profund Advisors LLC lifted its position in PTC Therapeutics by 6.8% in the third quarter. Profund Advisors LLC now owns 22,262 shares of the biopharmaceutical company’s stock worth $1,366,000 after purchasing an additional 1,420 shares during the period. Smartleaf Asset Management LLC lifted its position in PTC Therapeutics by 101.3% in the third quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 236 shares during the period. Finally, Savant Capital LLC boosted its stake in PTC Therapeutics by 8.6% during the 3rd quarter. Savant Capital LLC now owns 8,992 shares of the biopharmaceutical company’s stock valued at $552,000 after purchasing an additional 711 shares in the last quarter.

Analysts Set New Price Targets

A number of research firms have recently commented on PTCT. Morgan Stanley boosted their price objective on PTC Therapeutics from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PTC Therapeutics in a report on Monday, December 29th. Wells Fargo & Company dropped their price target on shares of PTC Therapeutics from $93.00 to $86.00 and set an “overweight” rating on the stock in a research report on Friday, February 20th. Wall Street Zen lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Finally, Citigroup lifted their price objective on shares of PTC Therapeutics from $50.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. Ten analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.93.

Insiders Place Their Bets

In other PTC Therapeutics news, insider Eric Pauwels sold 40,290 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $75.43, for a total transaction of $3,039,074.70. Following the completion of the sale, the insider directly owned 70,373 shares in the company, valued at approximately $5,308,235.39. This trade represents a 36.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Glenn Md Phd Steele, Jr. sold 12,000 shares of the company’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $76.35, for a total value of $916,200.00. Following the completion of the transaction, the director owned 18,500 shares in the company, valued at $1,412,475. This represents a 39.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 167,765 shares of company stock worth $12,617,737. 5.50% of the stock is owned by corporate insiders.

PTC Therapeutics Stock Performance

Shares of NASDAQ:PTCT opened at $67.76 on Thursday. The firm has a 50 day simple moving average of $74.52 and a 200 day simple moving average of $68.44. PTC Therapeutics, Inc. has a 52 week low of $35.95 and a 52 week high of $87.50. The company has a market cap of $5.61 billion, a PE ratio of 8.75 and a beta of 0.48.

PTC Therapeutics (NASDAQ:PTCT) last announced its earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($1.46). The firm had revenue of $164.68 million for the quarter, compared to analyst estimates of $281.45 million. PTC Therapeutics had a net margin of 39.44% and a negative return on equity of 362.45%. PTC Therapeutics’s revenue for the quarter was down 22.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.85) earnings per share. On average, equities analysts predict that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current year.

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.