Orbimed Advisors LLC Has $3.35 Million Stake in PTC Therapeutics, Inc. $PTCT

Orbimed Advisors LLC grew its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 111.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,100 shares of the biopharmaceutical company’s stock after acquiring an additional 25,900 shares during the quarter. Orbimed Advisors LLC owned 0.06% of PTC Therapeutics worth $3,345,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of PTCT. UMB Bank n.a. acquired a new position in shares of PTC Therapeutics in the 4th quarter valued at approximately $26,000. Comerica Bank increased its stake in PTC Therapeutics by 868.5% during the 3rd quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 469 shares in the last quarter. Salomon & Ludwin LLC acquired a new stake in PTC Therapeutics during the 4th quarter worth approximately $41,000. IFP Advisors Inc raised its holdings in PTC Therapeutics by 68.1% during the 3rd quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock worth $47,000 after buying an additional 310 shares during the period. Finally, Allworth Financial LP lifted its stake in PTC Therapeutics by 63.8% in the fourth quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company’s stock valued at $48,000 after buying an additional 247 shares in the last quarter.

Insider Buying and Selling at PTC Therapeutics

In other news, Director Mary L. Smith sold 15,834 shares of the stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $90.00, for a total transaction of $1,425,060.00. Following the completion of the transaction, the director directly owned 21,813 shares in the company, valued at $1,963,170. This represents a 42.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 dated 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 transaction, the insider owned 60,299 shares of the company’s stock, valued at approximately $5,359,978.11. This represents a 28.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 198,662 shares of company stock valued at $16,347,994 in the last three months. 5.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PTCT has been the subject of several research analyst reports. Royal Bank Of Canada upped their price target on shares of PTC Therapeutics from $82.00 to $85.00 and gave the company a “sector perform” rating in a report on Tuesday, July 7th. Cantor Fitzgerald raised their price objective on shares of PTC Therapeutics from $124.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Wells Fargo & Company cut 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 report on Monday, July 20th. Weiss Ratings lowered shares of PTC Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Finally, Citigroup upgraded PTC Therapeutics from a “neutral” rating to a “buy” rating and increased their target price for the stock from $75.00 to $108.00 in a report on Tuesday, June 9th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $92.29.

PTC Therapeutics Price Performance

NASDAQ:PTCT opened at $76.82 on Monday. PTC Therapeutics, Inc. has a twelve month low of $43.17 and a twelve month high of $90.87. The business has a 50 day moving average price of $77.19 and a two-hundred day moving average price of $72.82. The company has a market cap of $6.37 billion, a P/E ratio of -32.97, a price-to-earnings-growth ratio of 6.69 and a beta of 0.53.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.42. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. The company had revenue of $272.55 million during the quarter, compared to analysts’ expectations of $217.42 million. During the same period last year, the business earned $10.04 EPS. The business’s quarterly revenue was up 43.5% on a year-over-year basis. As a group, analysts anticipate that PTC Therapeutics, Inc. will post 0.41 earnings per share 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.