WCM Investment Management LLC Acquires Shares of 147,065 PTC Therapeutics, Inc. $PTCT

WCM Investment Management LLC acquired a new position in PTC Therapeutics, Inc. (NASDAQ:PTCT) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 147,065 shares of the biopharmaceutical company’s stock, valued at approximately $8,919,000. WCM Investment Management LLC owned 0.19% of PTC Therapeutics as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the company. PNC Financial Services Group Inc. raised its holdings in PTC Therapeutics by 42.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 995 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 295 shares during the period. EverSource Wealth Advisors LLC grew its holdings in PTC Therapeutics by 247.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,143 shares of the biopharmaceutical company’s stock valued at $56,000 after purchasing an additional 814 shares during the period. Globeflex Capital L P purchased a new stake in shares of PTC Therapeutics in the second quarter valued at approximately $91,000. Plato Investment Management Ltd acquired a new position in shares of PTC Therapeutics during the 2nd quarter worth approximately $92,000. Finally, Exchange Traded Concepts LLC acquired a new position in shares of PTC Therapeutics during the 3rd quarter worth approximately $92,000.

Analysts Set New Price Targets

Several brokerages recently commented on PTCT. Jefferies Financial Group boosted their price target on shares of PTC Therapeutics from $63.00 to $77.00 and gave the stock a “buy” rating in a report on Tuesday, October 28th. Royal Bank Of Canada downgraded shares of PTC Therapeutics from an “outperform” rating to a “sector perform” rating and increased their price objective for the company from $82.00 to $91.00 in a report on Monday, December 1st. TD Cowen reissued a “hold” rating on shares of PTC Therapeutics in a research note on Thursday, January 29th. Wall Street Zen upgraded shares of PTC Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, January 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of PTC Therapeutics in a research note on Monday, December 29th. Ten research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, PTC Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $80.67.

PTC Therapeutics Trading Down 0.1%

Shares of NASDAQ PTCT opened at $74.83 on Wednesday. The stock has a market cap of $6.01 billion, a PE ratio of 8.74 and a beta of 0.48. PTC Therapeutics, Inc. has a 12-month low of $35.95 and a 12-month high of $87.50. The company has a 50-day moving average of $76.84 and a 200 day moving average of $66.10.

PTC Therapeutics (NASDAQ:PTCT) last issued its earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, topping the consensus estimate of ($1.19) by $1.39. PTC Therapeutics had a negative return on equity of 194.11% and a net margin of 42.25%.The business had revenue of $211.01 million for the quarter, compared to analysts’ expectations of $177.42 million. During the same period in the previous year, the firm posted ($1.39) EPS. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, sell-side analysts forecast that PTC Therapeutics, Inc. will post -4.52 EPS for the current fiscal year.

Insider Buying and Selling at PTC Therapeutics

In related news, Director Emma Reeve sold 10,000 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $79.50, for a total value of $795,000.00. Following the completion of the sale, the director owned 6,666 shares of the company’s stock, valued at approximately $529,947. This represents a 60.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Glenn Md Phd Steele, Jr. sold 12,000 shares of PTC Therapeutics stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $76.35, for a total transaction of $916,200.00. Following the transaction, the director directly owned 18,500 shares in the company, valued at $1,412,475. This trade represents a 39.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 291,016 shares of company stock worth $23,050,330. Corporate insiders own 5.50% of the company’s stock.

PTC Therapeutics Company 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.