Orbimed Advisors LLC Has $3.35 Million Stock Position in PTC Therapeutics, Inc. $PTCT

Orbimed Advisors LLC lifted its stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 111.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,100 shares of the biopharmaceutical company’s stock after purchasing an additional 25,900 shares during the period. Orbimed Advisors LLC’s holdings in PTC Therapeutics were worth $3,345,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. UMB Bank n.a. bought a new position in shares of PTC Therapeutics in the fourth quarter valued at $26,000. Comerica Bank raised its position in PTC Therapeutics by 868.5% during the third quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 469 shares in the last quarter. Salomon & Ludwin LLC bought a new stake in PTC Therapeutics during the fourth quarter worth $41,000. IFP Advisors Inc raised its position in PTC Therapeutics by 68.1% during the third quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock worth $47,000 after acquiring an additional 310 shares in the last quarter. Finally, Allworth Financial LP lifted its stake in PTC Therapeutics by 63.8% in the fourth quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company’s stock valued at $48,000 after acquiring an additional 247 shares during the last quarter.

Analyst Ratings Changes

PTCT has been the subject of a number of analyst reports. Raymond James Financial initiated coverage on shares of PTC Therapeutics in a research report on Friday, April 10th. They issued an “outperform” rating and a $108.00 price objective for the company. Royal Bank Of Canada raised their target price on shares of PTC Therapeutics from $82.00 to $85.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 7th. Zacks Research upgraded shares of PTC Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. Jefferies Financial Group upgraded PTC Therapeutics from a “hold” rating to a “buy” rating and lifted their price target for the stock from $76.00 to $85.00 in a report on Wednesday, May 27th. Finally, Citigroup raised PTC Therapeutics from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $75.00 to $108.00 in a research report on Tuesday, June 9th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $92.29.

PTC Therapeutics Price Performance

PTCT stock opened at $76.82 on Monday. PTC Therapeutics, Inc. has a one year low of $43.17 and a one year high of $90.87. The stock has a market cap of $6.37 billion, a price-to-earnings ratio of -32.97, a price-to-earnings-growth ratio of 6.69 and a beta of 0.53. The company has a fifty day moving average price of $77.19 and a two-hundred day moving average price of $72.82.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.42. The company had revenue of $272.55 million for 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%. The company’s revenue was up 43.5% on a year-over-year basis. During the same period in the prior year, the firm earned $10.04 earnings per share. Research analysts anticipate that PTC Therapeutics, Inc. will post 0.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other PTC Therapeutics news, CEO Matthew B. Klein sold 12,572 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $72.95, for a total transaction of $917,127.40. Following the completion of the sale, the chief executive officer directly owned 393,998 shares in the company, valued at $28,742,154.10. This trade represents a 3.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Neil Gregory Almstead sold 24,613 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $88.89, for a total value of $2,187,849.57. Following the sale, the insider owned 60,299 shares of the company’s stock, valued at approximately $5,359,978.11. This represents a 28.99% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 198,662 shares of company stock worth $16,347,994 in the last 90 days. Corporate insiders own 5.50% 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.