Parkman Healthcare Partners LLC Buys New Shares in PTC Therapeutics, Inc. $PTCT

Parkman Healthcare Partners LLC purchased a new stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 435,691 shares of the biopharmaceutical company’s stock, valued at approximately $35,539,000. PTC Therapeutics accounts for approximately 3.6% of Parkman Healthcare Partners LLC’s investment portfolio, making the stock its 5th largest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. BlackRock Inc. bought a new position in shares of PTC Therapeutics during the 2nd quarter valued at approximately $1,139,089,000. Vanguard Group Inc. increased its holdings in PTC Therapeutics by 6.2% in the 4th quarter. Vanguard Group Inc. now owns 8,803,203 shares of the biopharmaceutical company’s stock worth $668,691,000 after acquiring an additional 514,204 shares in the last quarter. Janus Henderson Group PLC raised its stake in PTC Therapeutics by 48.3% during the 1st quarter. Janus Henderson Group PLC now owns 7,193,433 shares of the biopharmaceutical company’s stock worth $489,997,000 after acquiring an additional 2,342,101 shares during the period. Wellington Management Group LLP raised its stake in PTC Therapeutics by 4.8% during the 3rd quarter. Wellington Management Group LLP now owns 4,918,619 shares of the biopharmaceutical company’s stock worth $301,856,000 after acquiring an additional 224,481 shares during the period. Finally, State Street Corp lifted its holdings 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 valued at $319,497,000 after purchasing an additional 1,071,343 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PTCT shares. Wall Street Zen lowered shares of PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Weiss Ratings downgraded shares of PTC Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, August 17th. Barclays lifted their target price on shares of PTC Therapeutics from $120.00 to $122.00 and gave the company an “overweight” rating in a research note on Friday, August 14th. Jefferies Financial Group raised shares of PTC Therapeutics from a “hold” rating to a “buy” rating and upped their target price for the stock from $76.00 to $85.00 in a report on Wednesday, May 27th. Finally, Zacks Research lowered PTC Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, PTC Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.55.

PTC Therapeutics Trading Up 1.8%

Shares of PTCT opened at $71.06 on Tuesday. The business’s 50 day moving average is $77.51 and its 200 day moving average is $72.31. PTC Therapeutics, Inc. has a 12-month low of $48.28 and a 12-month high of $90.87. The company has a market capitalization of $5.93 billion, a PE ratio of -122.52, a price-to-earnings-growth ratio of 2.15 and a beta of 0.56.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 earnings per share 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 the consensus estimate of $298.63 million. During the same period in the prior year, the company posted ($0.83) EPS. The firm’s revenue for the quarter was up 101.5% compared to the same quarter last year. Equities research analysts predict that PTC Therapeutics, Inc. will post 1.17 earnings per share for the current year.

Insider Transactions at PTC Therapeutics

In related news, insider Neil Gregory Almstead sold 24,613 shares of the company’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $88.89, for a total transaction of $2,187,849.57. Following the completion of the transaction, the insider owned 60,299 shares in the company, valued at approximately $5,359,978.11. This represents a 28.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Christine Marie Utter sold 19,686 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $75.56, for a total transaction of $1,487,474.16. Following the transaction, the chief accounting officer owned 70,199 shares of the company’s stock, valued at approximately $5,304,236.44. This represents a 21.90% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 205,343 shares of company stock valued at $16,774,704. 5.30% of the stock is owned by corporate insiders.

About PTC Therapeutics

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.