PTC Therapeutics, Inc. $PTCT Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lifted its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 13.3% during the first quarter, HoldingsChannel reports. The firm owned 61,397 shares of the biopharmaceutical company’s stock after purchasing an additional 7,227 shares during the quarter. Assenagon Asset Management S.A.’s holdings in PTC Therapeutics were worth $4,183,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Evolve Private Wealth LLC grew its holdings in PTC Therapeutics by 5.2% during the 1st quarter. Evolve Private Wealth LLC now owns 6,122 shares of the biopharmaceutical company’s stock valued at $417,000 after purchasing an additional 305 shares in the last quarter. Diversified Trust Co lifted its holdings in PTC Therapeutics by 6.7% in the 1st quarter. Diversified Trust Co now owns 18,557 shares of the biopharmaceutical company’s stock worth $1,264,000 after buying an additional 1,163 shares in the last quarter. Flax Pond Capital LLC purchased a new position in PTC Therapeutics in the 4th quarter valued at about $456,000. Mcguire Capital Advisors Inc. purchased a new position in PTC Therapeutics in the 4th quarter valued at about $397,000. Finally, Invesco Ltd. boosted its position in PTC Therapeutics by 38.7% in the 4th quarter. Invesco Ltd. now owns 434,285 shares of the biopharmaceutical company’s stock valued at $32,988,000 after buying an additional 121,228 shares during the last quarter.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PTCT shares. Royal Bank Of Canada lifted their target price on PTC Therapeutics from $81.00 to $82.00 and gave the stock a “sector perform” rating in a research report on Friday, May 8th. Wells Fargo & Company raised their price objective on PTC Therapeutics from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Weiss Ratings downgraded PTC Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, May 11th. Raymond James Financial started coverage on PTC Therapeutics in a research report on Friday, April 10th. They issued an “outperform” rating and a $108.00 target price on the stock. Finally, TD Cowen upgraded PTC Therapeutics from a “hold” rating to a “buy” rating and increased their target price for the company from $75.00 to $90.00 in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, PTC Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $91.36.

PTC Therapeutics Stock Performance

Shares of NASDAQ:PTCT opened at $81.57 on Tuesday. The stock has a market capitalization of $6.77 billion, a price-to-earnings ratio of -35.01, a price-to-earnings-growth ratio of 3.88 and a beta of 0.55. PTC Therapeutics, Inc. has a 1-year low of $43.17 and a 1-year high of $87.50. The company’s fifty day moving average is $72.76 and its two-hundred day moving average is $72.14.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.42. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. The company had revenue of $272.55 million for the quarter, compared to the consensus estimate of $217.42 million. During the same period last year, the firm posted $10.04 EPS. The company’s revenue for the quarter was up 43.5% on a year-over-year basis. Sell-side analysts expect that PTC Therapeutics, Inc. will post 0.78 EPS for the current fiscal year.

Insider Transactions at PTC Therapeutics

In other PTC Therapeutics news, VP Mark Elliott Boulding sold 10,462 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $78.65, for a total value of $822,836.30. Following the transaction, the vice president owned 105,272 shares of the company’s stock, valued at $8,279,642.80. This trade represents a 9.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew B. Klein sold 12,572 shares of PTC Therapeutics stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $72.95, for a total value of $917,127.40. Following the completion of the transaction, the chief executive officer owned 393,998 shares of the company’s stock, valued at approximately $28,742,154.10. The trade was a 3.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Insiders have sold a total of 178,328 shares of company stock valued at $13,487,625 over the last ninety days. 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.