Ishara Investments LP Invests $2.74 Million in PTC Therapeutics, Inc. $PTCT

Ishara Investments LP bought a new position in PTC Therapeutics, Inc. (NASDAQ:PTCT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 36,000 shares of the biopharmaceutical company’s stock, valued at approximately $2,735,000. PTC Therapeutics comprises 3.2% of Ishara Investments LP’s holdings, making the stock its 9th biggest holding.

Other hedge funds have also recently modified their holdings of the company. UMB Bank n.a. purchased a new stake in shares of PTC Therapeutics in the fourth quarter worth about $26,000. Smartleaf Asset Management LLC boosted its stake in shares of PTC Therapeutics by 101.3% in the third quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 236 shares during the last quarter. Optiver Holding B.V. boosted its stake in shares of PTC Therapeutics by 96.5% in the third quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock worth $31,000 after buying an additional 249 shares during the last quarter. Comerica Bank boosted its stake in shares of PTC Therapeutics by 868.5% in 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. Finally, Salomon & Ludwin LLC purchased a new stake in shares of PTC Therapeutics in the fourth quarter worth about $41,000.

Wall Street Analysts Forecast Growth

PTCT has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price target on PTC Therapeutics from $86.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Wall Street Zen downgraded PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Bank of America lowered their price target on PTC Therapeutics from $97.00 to $93.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. TD Cowen upgraded PTC Therapeutics from a “hold” rating to a “buy” rating and increased their price target for the stock from $75.00 to $90.00 in a research report on Friday, May 8th. Finally, Raymond James Financial initiated coverage on PTC Therapeutics in a research report on Friday, April 10th. They set an “outperform” rating and a $108.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $91.36.

Insiders Place Their Bets

In other news, VP Mark Elliott Boulding sold 3,540 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $78.97, for a total value of $279,553.80. Following the transaction, the vice president owned 105,212 shares in the company, valued at $8,308,591.64. This trade represents a 3.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Lee Scott Golden sold 829 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $67.99, for a total value of $56,363.71. Following the completion of the transaction, the executive vice president owned 79,115 shares in the company, valued at approximately $5,379,028.85. This trade represents a 1.04% decrease in their position. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 98,148 shares of company stock valued at $7,001,475. 5.50% of the stock is owned by corporate insiders.

PTC Therapeutics Trading Up 7.2%

Shares of PTCT stock opened at $78.53 on Thursday. The company has a market capitalization of $6.51 billion, a P/E ratio of -33.70, a P/E/G ratio of 3.37 and a beta of 0.56. The business’s 50 day moving average is $71.03 and its two-hundred day moving average is $71.93. PTC Therapeutics, Inc. has a 12-month low of $43.17 and a 12-month high of $87.50.

PTC Therapeutics (NASDAQ:PTCT) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.42. The business had revenue of $272.55 million for the quarter, compared to the consensus estimate of $217.42 million. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 22.58%.The business’s quarterly revenue was up 43.5% compared to the same quarter last year. During the same quarter last year, the business posted $10.04 earnings per share. On average, research analysts predict that PTC Therapeutics, Inc. will post 0.78 earnings per share for the current fiscal year.

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.