Inspire Investing LLC Acquires 1,061 Shares of PTC Therapeutics, Inc. $PTCT

Inspire Investing LLC boosted its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 15.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,943 shares of the biopharmaceutical company’s stock after acquiring an additional 1,061 shares during the period. Inspire Investing LLC’s holdings in PTC Therapeutics were worth $388,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. raised its stake in PTC Therapeutics by 16.0% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,062 shares of the biopharmaceutical company’s stock valued at $150,000 after acquiring an additional 423 shares during the period. Robeco Institutional Asset Management B.V. bought a new stake in PTC Therapeutics in the 2nd quarter valued at $280,000. Farther Finance Advisors LLC raised its stake in PTC Therapeutics by 21,850.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 2,634 shares of the biopharmaceutical company’s stock valued at $129,000 after acquiring an additional 2,622 shares during the period. Financiere des Professionnels Fonds d investissement inc. bought a new stake in PTC Therapeutics in the 2nd quarter valued at $284,000. Finally, Assenagon Asset Management S.A. raised its stake in PTC Therapeutics by 86.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 631,622 shares of the biopharmaceutical company’s stock valued at $30,848,000 after acquiring an additional 293,662 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company dropped their price target on PTC Therapeutics from $79.00 to $73.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 20th. Royal Bank Of Canada restated an “outperform” rating and issued a $63.00 price target (up previously from $60.00) on shares of PTC Therapeutics in a research note on Friday, August 8th. UBS Group increased their price objective on PTC Therapeutics from $71.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Truist Financial increased their price objective on PTC Therapeutics from $80.00 to $86.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of PTC Therapeutics in a research report on Wednesday, October 8th. Nine equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $69.00.

Insider Activity at PTC Therapeutics

In other news, Director David P. Southwell sold 12,000 shares of the stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $58.34, for a total transaction of $700,080.00. Following the sale, the director directly owned 16,850 shares of the company’s stock, valued at approximately $983,029. This represents a 41.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Mark Elliott Boulding sold 3,375 shares of the stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $63.43, for a total value of $214,076.25. Following the sale, the vice president directly owned 103,901 shares in the company, valued at approximately $6,590,440.43. This trade represents a 3.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 249,735 shares of company stock worth $15,467,670 in the last quarter. 5.50% of the stock is currently owned by corporate insiders.

PTC Therapeutics Price Performance

PTCT stock opened at $68.51 on Thursday. The stock has a market capitalization of $5.44 billion, a price-to-earnings ratio of 9.83 and a beta of 0.55. The business’s fifty day moving average price is $56.65 and its two-hundred day moving average price is $50.82. PTC Therapeutics, Inc. has a fifty-two week low of $35.51 and a fifty-two week high of $69.26.

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

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.