Brighton Jones LLC Acquires New Shares in PTC Therapeutics, Inc. $PTCT

Brighton Jones LLC purchased a new stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 4,628 shares of the biopharmaceutical company’s stock, valued at approximately $226,000.

Other institutional investors also recently bought and sold shares of the company. Quantbot Technologies LP raised its holdings in PTC Therapeutics by 545.5% in the 1st quarter. Quantbot Technologies LP now owns 652 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 551 shares during the period. PNC Financial Services Group Inc. increased its stake in PTC Therapeutics by 84.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 700 shares of the biopharmaceutical company’s stock worth $36,000 after buying an additional 320 shares in the last quarter. GAMMA Investing LLC increased its stake in PTC Therapeutics by 86.3% in the 1st quarter. GAMMA Investing LLC now owns 952 shares of the biopharmaceutical company’s stock worth $49,000 after buying an additional 441 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in PTC Therapeutics in the 1st quarter worth $61,000. Finally, AlphaQuest LLC raised its position in shares of PTC Therapeutics by 67.0% during the first quarter. AlphaQuest LLC now owns 1,807 shares of the biopharmaceutical company’s stock valued at $92,000 after buying an additional 725 shares during the last quarter.

Wall Street Analysts Forecast Growth

PTCT has been the subject of a number of research analyst reports. UBS Group raised their price objective on PTC Therapeutics from $71.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PTC Therapeutics in a research note on Wednesday, October 8th. Jefferies Financial Group boosted their target price on PTC Therapeutics from $63.00 to $77.00 and gave the company a “buy” rating in a research report on Tuesday. Bank of America dropped their target price on PTC Therapeutics from $82.00 to $76.00 and set a “buy” rating for the company in a research report on Wednesday, August 20th. Finally, Royal Bank Of Canada restated 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. Ten investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $69.57.

PTC Therapeutics Stock Up 0.3%

PTC Therapeutics stock opened at $68.31 on Friday. PTC Therapeutics, Inc. has a twelve month low of $35.95 and a twelve month high of $69.88. The business has a fifty day moving average of $61.23 and a two-hundred day moving average of $52.80. The firm has a market cap of $5.43 billion, a P/E ratio of 9.80 and a beta of 0.55.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($0.83) EPS for the quarter, beating the consensus estimate of ($1.07) by $0.24. PTC Therapeutics had a negative return on equity of 106.31% and a net margin of 35.65%.The firm had revenue of $178.88 million during the quarter, compared to analyst estimates of $173.01 million. During the same quarter in the prior year, the business posted ($1.29) EPS. The business’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. Equities analysts expect that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current year.

Insider Activity

In other news, insider Eric Pauwels sold 39,850 shares of the company’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $56.92, for a total value of $2,268,262.00. Following the sale, the insider directly owned 72,912 shares of the company’s stock, valued at $4,150,151.04. This represents a 35.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Neil Gregory Almstead sold 55,000 shares of the company’s stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $66.05, for a total transaction of $3,632,750.00. Following the completion of the sale, the insider directly owned 100,625 shares in the company, valued at $6,646,281.25. This trade represents a 35.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 265,401 shares of company stock valued at $16,556,457. 5.50% of the stock is owned by company insiders.

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.