Phocas Financial Corp. Has $1.94 Million Stock Position in PTC Therapeutics, Inc. $PTCT

Phocas Financial Corp. lessened its stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 31.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,482 shares of the biopharmaceutical company’s stock after selling 11,752 shares during the period. Phocas Financial Corp.’s holdings in PTC Therapeutics were worth $1,936,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Sicart Associates LLC acquired a new position in shares of PTC Therapeutics during the 4th quarter worth approximately $209,000. Pallas Capital Advisors LLC acquired a new stake in shares of PTC Therapeutics in the 4th quarter valued at approximately $249,000. SG Americas Securities LLC grew its stake in shares of PTC Therapeutics by 587.5% in the fourth quarter. SG Americas Securities LLC now owns 894,461 shares of the biopharmaceutical company’s stock valued at $67,943,000 after buying an additional 764,364 shares in the last quarter. Diversified Trust Co. grew its stake in shares of PTC Therapeutics by 4.9% in the fourth quarter. Diversified Trust Co. now owns 17,394 shares of the biopharmaceutical company’s stock valued at $1,321,000 after buying an additional 817 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in PTC Therapeutics by 9.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 9,145 shares of the biopharmaceutical company’s stock worth $701,000 after buying an additional 806 shares during the last quarter.

Analyst Ratings Changes

PTCT has been the topic of several analyst reports. Royal Bank Of Canada dropped their price target on shares of PTC Therapeutics from $87.00 to $82.00 and set a “sector perform” rating on the stock in a research report on Friday, February 20th. Jefferies Financial Group downgraded shares of PTC Therapeutics from a “buy” rating to a “hold” rating and decreased their price objective for the company from $91.00 to $76.00 in a research report on Monday, March 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PTC Therapeutics in a report on Monday, December 29th. TD Cowen reiterated a “hold” rating on shares of PTC Therapeutics in a research note on Thursday, January 29th. Finally, Morgan Stanley lifted their price target on PTC Therapeutics from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, PTC Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $82.71.

PTC Therapeutics Stock Performance

Shares of NASDAQ PTCT opened at $67.77 on Monday. The firm has a market cap of $5.61 billion, a P/E ratio of 8.76 and a beta of 0.55. The business’s 50 day moving average is $69.06 and its 200-day moving average is $71.13. PTC Therapeutics, Inc. has a 1-year low of $35.95 and a 1-year high of $87.50.

PTC Therapeutics (NASDAQ:PTCT) last posted its earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($1.46). PTC Therapeutics had a negative return on equity of 362.45% and a net margin of 39.44%.The firm had revenue of $164.68 million for the quarter, compared to analyst estimates of $281.45 million. During the same period in the prior year, the business posted ($0.85) EPS. The firm’s quarterly revenue was down 22.7% compared to the same quarter last year. Analysts forecast that PTC Therapeutics, Inc. will post -4.52 EPS for the current year.

Insiders Place Their Bets

In other news, insider Neil Gregory Almstead sold 52,003 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $69.04, for a total transaction of $3,590,287.12. Following the transaction, the insider directly owned 60,137 shares of the company’s stock, valued at approximately $4,151,858.48. This trade represents a 46.37% decrease in their ownership of the stock. The sale was disclosed in a document filed 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, EVP Lee Scott Golden sold 10,000 shares of PTC Therapeutics stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $63.38, for a total transaction of $633,800.00. Following the completion of the sale, the executive vice president owned 79,944 shares of the company’s stock, valued at approximately $5,066,850.72. The trade was a 11.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 166,669 shares of company stock worth $11,772,637. 5.50% of the stock is currently owned by insiders.

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.