PTC Therapeutics, Inc. $PTCT Stock Holdings Decreased by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. lowered its stake in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 16.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 75,706 shares of the biopharmaceutical company’s stock after selling 15,430 shares during the period. Hillsdale Investment Management Inc.’s holdings in PTC Therapeutics were worth $5,751,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Smartleaf Asset Management LLC increased its position in shares of PTC Therapeutics by 101.3% in the 3rd 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 last quarter. Optiver Holding B.V. boosted its holdings in shares of PTC Therapeutics by 96.5% in the 3rd quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 249 shares during the period. Comerica Bank boosted its holdings in shares of PTC Therapeutics by 868.5% in the 3rd quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 469 shares during the period. Salomon & Ludwin LLC acquired a new position in shares of PTC Therapeutics in the 4th quarter valued at about $41,000. Finally, IFP Advisors Inc boosted its holdings in shares of PTC Therapeutics by 68.1% in the 3rd quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock valued at $47,000 after buying an additional 310 shares during the period.

PTC Therapeutics Stock Up 3.9%

PTC Therapeutics stock opened at $73.85 on Friday. The firm has a 50-day moving average price of $69.46 and a two-hundred day moving average price of $72.41. The firm has a market capitalization of $6.13 billion, a price-to-earnings ratio of -31.70, a PEG ratio of 13.77 and a beta of 0.53. PTC Therapeutics, Inc. has a 52-week low of $43.17 and a 52-week high of $87.50.

PTC Therapeutics (NASDAQ:PTCT) last posted its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.42. The firm had revenue of $272.55 million during the quarter, compared to analyst estimates of $217.42 million. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. PTC Therapeutics’s revenue was up 43.5% on a year-over-year basis. During the same period in the previous year, the business posted $10.04 EPS. Research analysts expect that PTC Therapeutics, Inc. will post 0.4 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on PTCT. Wall Street Zen lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. Jefferies Financial Group raised shares of PTC Therapeutics from a “hold” rating to a “buy” rating and lifted their price target for the company from $76.00 to $85.00 in a report on Wednesday. Wells Fargo & Company lifted their price target on shares of PTC Therapeutics from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Truist Financial raised shares of PTC Therapeutics to a “strong-buy” rating in a report on Wednesday, March 25th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of PTC Therapeutics in a report on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.00.

Insider Activity

In other PTC Therapeutics news, VP Mark Elliott Boulding sold 3,540 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $78.97, for a total transaction of $279,553.80. Following the completion of the transaction, the vice president directly owned 105,212 shares of the company’s stock, valued at $8,308,591.64. The trade was a 3.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Lee Scott Golden sold 10,000 shares of the business’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $63.38, for a total transaction of $633,800.00. Following the transaction, the executive vice president directly owned 79,944 shares of the company’s stock, valued at $5,066,850.72. The trade was a 11.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 115,022 shares of company stock worth $7,925,979 over the last three months. Insiders own 5.50% of the company’s stock.

PTC Therapeutics 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.