PTC Therapeutics, Inc. $PTCT Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC grew its stake in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 1,772.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 227,059 shares of the biopharmaceutical company’s stock after buying an additional 214,931 shares during the quarter. Hsbc Holdings PLC’s holdings in PTC Therapeutics were worth $15,470,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. UMB Bank n.a. acquired a new stake in PTC Therapeutics during the 4th quarter worth $26,000. Comerica Bank grew its holdings in shares of PTC Therapeutics by 868.5% during the third quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 469 shares during the last quarter. Salomon & Ludwin LLC purchased a new position in shares of PTC Therapeutics during the fourth quarter worth about $41,000. Allworth Financial LP increased its position in PTC Therapeutics by 63.8% in the 4th quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company’s stock valued at $48,000 after acquiring an additional 247 shares during the period. Finally, First Horizon Corp acquired a new position in PTC Therapeutics in the 4th quarter valued at about $53,000.

Wall Street Analysts Forecast Growth

PTCT has been the subject of several analyst reports. TD Cowen upgraded PTC Therapeutics from a “hold” rating to a “buy” rating and upped their price target for the stock from $75.00 to $90.00 in a research note on Friday, May 8th. Wells Fargo & Company dropped their price objective on shares of PTC Therapeutics from $95.00 to $93.00 and set an “overweight” rating on the stock in a research note on Monday. Jefferies Financial Group upgraded shares of PTC Therapeutics from a “hold” rating to a “buy” rating and raised their target price for the stock from $76.00 to $85.00 in a research note on Wednesday, May 27th. Morgan Stanley reaffirmed an “overweight” rating and issued a $94.00 price objective on shares of PTC Therapeutics in a report on Friday, May 8th. Finally, Royal Bank Of Canada boosted their target price on PTC Therapeutics from $82.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 7th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.29.

Insider Buying and Selling at PTC Therapeutics

In other news, insider Eric Pauwels sold 21,277 shares of the business’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $75.00, for a total transaction of $1,595,775.00. Following the completion of the sale, the insider owned 73,411 shares in the company, valued at approximately $5,505,825. The trade was a 22.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Neil Gregory Almstead sold 24,613 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $88.89, for a total transaction of $2,187,849.57. Following the completion of the sale, the insider directly owned 60,299 shares of the company’s stock, valued at $5,359,978.11. The trade was a 28.99% 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. Over the last 90 days, insiders sold 198,662 shares of company stock worth $16,347,994. 5.50% of the stock is currently owned by insiders.

PTC Therapeutics Stock Performance

PTC Therapeutics stock opened at $78.40 on Thursday. PTC Therapeutics, Inc. has a fifty-two week low of $43.17 and a fifty-two week high of $90.87. The firm has a market capitalization of $6.50 billion, a price-to-earnings ratio of -33.65, a price-to-earnings-growth ratio of 4.72 and a beta of 0.53. The stock’s fifty day moving average is $76.97 and its two-hundred day moving average is $72.81.

PTC Therapeutics (NASDAQ:PTCT) last announced its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.42. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 22.58%.The firm had revenue of $272.55 million for the quarter, compared to analysts’ expectations of $217.42 million. During the same quarter in the prior year, the firm earned $10.04 EPS. PTC Therapeutics’s quarterly revenue was up 43.5% on a year-over-year basis. As a group, sell-side analysts forecast that PTC Therapeutics, Inc. will post 0.6 EPS for the current fiscal year.

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.