19,877 Shares in PTC Therapeutics, Inc. $PTCT Purchased by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 19,877 shares of the biopharmaceutical company’s stock, valued at approximately $1,510,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PTCT. Empowered Funds LLC purchased a new stake in shares of PTC Therapeutics during the 1st quarter valued at approximately $1,999,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of PTC Therapeutics by 11.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 178,755 shares of the biopharmaceutical company’s stock valued at $9,109,000 after purchasing an additional 18,504 shares during the last quarter. Quantbot Technologies LP lifted its stake in shares of PTC Therapeutics by 280.1% in the 2nd quarter. Quantbot Technologies LP now owns 2,478 shares of the biopharmaceutical company’s stock valued at $121,000 after purchasing an additional 1,826 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of PTC Therapeutics in the 2nd quarter valued at $1,661,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of PTC Therapeutics by 247.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,143 shares of the biopharmaceutical company’s stock valued at $56,000 after purchasing an additional 814 shares during the last quarter.

PTC Therapeutics Stock Performance

PTCT stock opened at $70.97 on Monday. The company has a market capitalization of $5.89 billion, a PE ratio of -30.46, a P/E/G ratio of 5.99 and a beta of 0.55. PTC Therapeutics, Inc. has a 12-month low of $43.17 and a 12-month high of $87.50. The business’s fifty day moving average price is $69.90 and its 200 day moving average price is $72.25.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.42. The business had revenue of $272.55 million for the quarter, compared to analysts’ expectations of $217.42 million. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. The business’s quarterly revenue was up 43.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $10.04 earnings per share. Research analysts predict that PTC Therapeutics, Inc. will post 0.43 EPS for the current fiscal year.

Insider Buying and Selling at PTC Therapeutics

In other PTC Therapeutics news, insider Neil Gregory Almstead sold 52,003 shares of the business’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $69.04, for a total value of $3,590,287.12. Following the completion of the transaction, the insider owned 60,137 shares in the company, valued at $4,151,858.48. The trade was a 46.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Mark Elliott Boulding sold 2,812 shares of the business’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $72.18, for a total transaction of $202,970.16. Following the completion of the transaction, the vice president owned 105,212 shares of the company’s stock, valued at approximately $7,594,202.16. This trade represents a 2.60% 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. In the last three months, insiders have sold 94,700 shares of company stock valued at $6,637,971. Corporate insiders own 5.50% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on PTCT. Truist Financial raised PTC Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. Weiss Ratings lowered shares of PTC Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Jefferies Financial Group raised shares of PTC Therapeutics from a “hold” rating to a “buy” rating and increased their target price for the stock from $76.00 to $85.00 in a research note on Wednesday, May 27th. Royal Bank Of Canada increased their target price on shares of PTC Therapeutics from $81.00 to $82.00 and gave the stock a “sector perform” rating in a research note on Friday, May 8th. Finally, Bank of America lowered their target price on shares of PTC Therapeutics from $97.00 to $93.00 and set a “buy” rating for the company in a research note on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $89.00.

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.