5 Best Pharmaceutical Stocks to Buy According to Steven Boyd’s Armistice Capital

4. PTC Therapeutics, Inc. (NASDAQ:PTCT)

Armistice Capital’s Stake Value: $132,038,000

Percentage of Armistice Capital’s 13F Portfolio: 2.30%

Number of Hedge Fund Holders: 22

PTC Therapeutics, Inc. (NASDAQ:PTCT) is a biopharmaceutical company focused on discovering, developing & commercializing medicine for patients with rare disease. Its portfolio of approved therapies is led by EMFLAZA, approved in the US for treatment of Duchenne muscular dystrophy, and EVRYSDI, designed to treat spinal muscular atrophy.

Armistice Capital owns 3,296,000 shares of PTC Therapeutics, Inc. (NASDAQ:PTCT), accounting for 2.30% of its 13F portfolio. The hedge fund increased its stake by 9% in Q2 2022, as compared to the previous quarter.

As of Q2 2022, 22 of the 895 hedge funds tracked by Insider Monkey owned shares of PTC Therapeutics, Inc. (NASDAQ:PTCT), valued at $323 million. Camber Capital Management was its second largest hedge fund shareholder after Armistice Capital, with ownership of 2.5 million shares valued at $98 million.