Invesco Ltd. Boosts Holdings in PTC Therapeutics, Inc. $PTCT

Invesco Ltd. boosted its position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 178.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 310,329 shares of the biopharmaceutical company’s stock after acquiring an additional 198,938 shares during the period. Invesco Ltd. owned 0.39% of PTC Therapeutics worth $15,814,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. lifted its position in PTC Therapeutics by 11.4% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 26,337 shares of the biopharmaceutical company’s stock valued at $1,342,000 after acquiring an additional 2,705 shares during the last quarter. Deutsche Bank AG grew its position in PTC Therapeutics by 262.1% during the 1st quarter. Deutsche Bank AG now owns 341,724 shares of the biopharmaceutical company’s stock worth $17,414,000 after purchasing an additional 247,346 shares during the last quarter. Westfield Capital Management Co. LP purchased a new stake in PTC Therapeutics during the 1st quarter worth approximately $259,000. PNC Financial Services Group Inc. grew its position in PTC Therapeutics by 84.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 700 shares of the biopharmaceutical company’s stock worth $36,000 after purchasing an additional 320 shares during the last quarter. Finally, Natixis Advisors LLC grew its position in PTC Therapeutics by 26.2% during the 1st quarter. Natixis Advisors LLC now owns 15,220 shares of the biopharmaceutical company’s stock worth $776,000 after purchasing an additional 3,160 shares during the last quarter.

PTC Therapeutics Trading Up 3.4%

PTCT opened at $50.57 on Friday. PTC Therapeutics, Inc. has a 12-month low of $30.41 and a 12-month high of $58.38. The firm has a market capitalization of $4.02 billion, a PE ratio of 7.26 and a beta of 0.54. The firm has a 50 day moving average of $48.86 and a two-hundred day moving average of $49.04.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.83) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.07) by $0.24. PTC Therapeutics had a net margin of 35.65% and a negative return on equity of 106.31%. The company had revenue of $178.88 million during the quarter, compared to analyst estimates of $173.01 million. During the same period last year, the firm posted ($1.29) EPS. PTC Therapeutics’s revenue for the quarter was down 4.2% compared to the same quarter last year. PTC Therapeutics has set its FY 2025 guidance at EPS. As a group, analysts predict that PTC Therapeutics, Inc. will post -4.52 EPS for the current fiscal year.

Insider Activity at PTC Therapeutics

In other PTC Therapeutics news, CEO Matthew B. Klein sold 10,739 shares of the company’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $51.74, for a total value of $555,635.86. Following the sale, the chief executive officer owned 337,767 shares in the company, valued at approximately $17,476,064.58. This represents a 3.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Pierre Gravier sold 2,516 shares of the company’s stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $49.46, for a total value of $124,441.36. Following the completion of the sale, the chief financial officer owned 71,920 shares in the company, valued at approximately $3,557,163.20. This represents a 3.38% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PTCT. Barclays boosted their target price on shares of PTC Therapeutics from $42.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 29th. Wall Street Zen downgraded shares of PTC Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Saturday, August 9th. Royal Bank Of Canada reissued an “outperform” rating and set a $63.00 target price (up previously from $60.00) on shares of PTC Therapeutics in a research report on Friday, August 8th. JPMorgan Chase & Co. dropped their target price on shares of PTC Therapeutics from $75.00 to $67.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 7th. Finally, Cowen reissued a “hold” rating on shares of PTC Therapeutics in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $69.15.

PTC Therapeutics Profile

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders in the United States and internationally. The company offers Translarna and Emflaza for the treatment of Duchenne muscular dystrophy; Upstaza to treat aromatic l-amino acid decarboxylas (AADC) deficiency, a central nervous system disorder; Tegsedi and Waylivra for the treatment of rare diseases; and Evrysdi to treat spinal muscular atrophy (SMA) in adults and children.