PTCT PTC Therapeutics, Inc. - Common Stock
$72.62
Price · Aug 19, 2026
Fundamentals as of Jul 30, 2026
52W Range
$48–$91
57% of range
Analyst Rating
BUY
21 analysts
Price Target
$98
+35% upside
P/E (TTM)
9.3
ROE
-331.5%
Net Profit Margin
39.4%
About PTC Therapeutics, Inc. - Common Stock Company overview from Wikipedia
PTC Therapeutics, Inc. is a US pharmaceutical company focused on the development of orally administered small molecule drugs and gene therapy which regulate gene expression by targeting post-transcriptional control (PTC) mechanisms in orphan diseases.
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PTC Therapeutics, Inc. is a US pharmaceutical company focused on the development of orally administered small molecule drugs and gene therapy which regulate gene expression by targeting post-transcriptional control (PTC) mechanisms in orphan diseases.
In September 2009, PTC entered into an agreement with Roche for the development of orally bioavailable small molecules for central nervous system diseases. PTC acquired the Bio-e platform in 2019.
Products
In 2017, PTC acquired Emflaza (deflazacort) from Marathon Pharmaceuticals. PTC also owns Translarna, (Ataluren) marketed for nonsense mutation Duchenne muscular dystrophy. Together, the two products generated revenues of 174 million dollars and 260 million dollars in 2017 and 2018 respectively.
PTC has the commercialization rights for WAYLIVRA (volanesorsen) in Latin America.
In 2018, PTC acquired Agilis Biotherapeutics and a gene therapy candidate, GT-AADC, with its compelling clinical data in treating aromatic L-amino acid decarboxylase (AADC) deficiency. AADC deficiency is a rare CNS disorder arising from reductions in the enzyme AADC that result from mutations in the dopa decarboxylase (DDC) gene. As of 2024, the AAV based treatment for AADC deficiency has been approved by the FDA and commercialized in the United States as Kebilidi. It is the first FDA-approved gene therapy treatment for AADC deficiency. This same product was granted EMA approval for use in the European Union under the name Upstaza.
Pipeline
In 2020, PTC acquired Censa Pharmaceuticals, Inc., a biopharmaceutical company focused on the development of CNSA-001 (sepiapterin), a clinical-stage investigational therapy for orphan metabolic diseases, including phenylketonuria (PKU) and other diseases associated with defects in the tetrahydrobiopterin (BH4) biochemical pathways diagnosed at birth.
In 2020, PTC announced the FDA approval of Evrysdi (risdiplam) for the treatment of spinal muscular atrophy (SMA) in adults and children 2 months and older.
In 2024, Novartis has committed $1 billion upfront in a licensing deal with PTC Therapeutics for an experimental treatment for Huntington’s disease, with the potential for an additional $1.9 billion tied to achieving specific development, regulatory, and commercial milestones. PTC Therapeutics’ therapy, known as PTC518, is an oral medication designed to reduce the production of the mutant protein linked to the genetic mutation responsible for the disease. This mutant protein is believed to contribute to neuronal death, driving disease progression. In June, interim data from a Phase 2 trial indicated that PTC518 successfully lowered levels of the mutant protein in both blood and cerebrospinal fluid.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
PTCT Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$72.62
Market Cap
$5.92B
P/E (TTM)
9.3
EPS (TTM)
$7.78
Revenue (TTM)
$1.73B
Div Yield
—
ROE
-331.5%
Debt/Equity
-1.4
52W Range
$48 – $91
PTCT Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$1.73B
2016-12-31
→
2025-12-31
EPS
$7.78
2019-12-31
→
2025-12-31
Free Cash Flow
$702M
2016-12-31
→
2025-12-31
Margins
39.4%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
PTCT
Peer Median
P/E (TTM)
9.3
37.2
P/S (TTM)
3.4
9.9
P/B
-28.8
8.3
EV / EBITDA
4.7
—
Price / FCF
8.4
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
PTCT
Peer Median
Operating Margin
50.1%
—
Net Profit Margin
39.4%
-15.1%
ROA
29.7%
-23.3%
ROE
-331.5%
-30.6%
ROIC
1044.7%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
PTCT
Peer Median
Debt / Equity
-1.4
—
Current Ratio
2.3
6.3
Quick Ratio
2.2
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
PTCT
Peer Median
Revenue YoY
114.5%
—
Revenue CAGR 3Y
35.3%
—
Revenue CAGR 5Y
35.4%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
PTCT
Peer Median
PTCT Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
21 analysts
- Strong Buy 6 28.6%
- Buy 11 52.4%
- Hold 3 14.3%
- Sell 1 4.8%
- Strong Sell 0 0.0%
12-Month Price Target
14 analysts · 2026-08-13
Median
$98.00
Now
$72.62
Low
$70.00
High
$130.00
Median target
$98.00
+34.9%
Mean target
$97.86
+34.8%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
1.9%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.92 | $0.43 | 0.49% |
| March 31, 2026 | $-0.03 | $-0.48 | 0.45% |
| Dec. 31, 2025 | $-1.67 | $0.04 | -1.7% |
| Sept. 30, 2025 | $0.20 | $-1.40 | 1.6% |
| June 30, 2025 | $-0.83 | $-1.08 | 0.25% |
| March 31, 2025 | $10.04 | $-0.22 | 10.3% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| PTCT | $6.19B | 9.8 | 114.5% | 39.4% | -331.5% | — |
| MIRM | $4.10B | -168.1 | 54.7% | -4.5% | -8.2% | — |
| COGT | $5.72B | -16.4 | — | — | -83.1% | — |
| DNTH | $1.78B | -9.8 | -67.3% | -7973.3% | -40.8% | — |
| ERAS | $1.06B | -8.5 | — | — | -35.7% | — |
| CAI | $7.62B | -8.4 | 97.0% | -8.4% | -13.2% | — |
| TVTX | $3.47B | -131.8 | 110.5% | -5.2% | -34.6% | — |
| ACAD | $4.55B | 11.6 | 11.9% | 36.5% | 38.1% | — |
| DYN | $3.23B | -5.6 | — | — | -57.8% | — |
| PBLS | — | — | — | — | — | — |
| CELC | $4.81B | -26.3 | — | — | -244.3% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.73B | $807M | $938M | $699M | $539M | $381M | $307M | $265M | $194M | $83M | $37M | $25M | |
| Cost of Revenue | · | · | · | · | · | · | $12M | $13M | $5M | $0 | $0 | · | |
| R&D Expense | $455M | $534M | $667M | $651M | $541M | $478M | $257M | $172M | $117M | $118M | $122M | $80M | |
| SG&A Expense | $347M | $301M | $333M | $326M | $286M | $245M | $203M | $154M | $121M | $97M | $82M | $45M | |
| Operating Expenses | $864M | $1.11B | $1.38B | $1.15B | $913M | $813M | $548M | $380M | $259M | $215M | $204M | $125M | |
| Operating Income | $867M | $-303M | $-440M | $-447M | $-374M | $-432M | $-241M | $-116M | $-64M | $-132M | $-167M | $-99M | |
| Other Non-op | $-18M | $7M | $10M | $-49M | $-58M | $85M | $14M | $129.0K | $-1M | $-1M | $-465.0K | $-213.0K | |
| Pretax Income | $697M | $-363M | $-696M | $-587M | $-518M | $-403M | $-240M | $-128M | $-78M | $-142M | $-170M | $-98M | |
| Income Tax | $14M | $176.0K | $-70M | $-28M | $6M | $35M | $12M | $-29.0K | $1M | $569.0K | $485.0K | $-5M | |
| Net Income | $683M | $-363M | $-627M | $-559M | $-524M | $-438M | $-252M | $-128M | $-79M | $-142M | $-170M | $-94M | |
| EPS (Basic) | $8.58 | $-4.73 | $-8.37 | $-7.79 | $-7.43 | $-6.64 | $-4.27 | $-2.75 | $-2.02 | · | · | $-2.97 | |
| EPS (Diluted) | $7.78 | $-4.73 | $-8.37 | $-7.79 | $-7.43 | $-6.64 | $-4.27 | · | · | · | · | $-2.97 | |
| Shares (Basic) | 79,534,290 | 76,845,055 | 74,838,292 | 71,728,634 | 70,466,393 | 66,027,908 | 58,863,185 | · | · | · | · | 31,565,310 | |
| Shares (Diluted) | 88,311,494 | 76,845,055 | 74,838,292 | 71,728,634 | 70,466,393 | 66,027,908 | 58,863,185 | · | · | · | · | 31,565,310 | |
| EBITDA | $906M | $-227M | $-203M | · | $-310M | $-388M | $-209M | $-90M | $-47M | $-132M | $-167M | $-99M |
Balance Sheet 27
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $985M | $780M | $594M | $280M | $190M | $209M | $288M | $169M | $112M | $58M | $58M | $50M | |
| Short-term Investments | $961M | $360M | $283M | $131M | $584M | $895M | $399M | $58M | $79M | $173M | $281M | $265M | |
| Receivables | $182M | $159M | $161M | $156M | $110M | $70M | $56M | $68M | $40M | $25M | $11M | $4M | |
| Inventory | $80M | $23M | $31M | $22M | $16M | $19M | $19M | $16M | $11M | $0 | · | · | |
| Prepaid Expense | $67M | $44M | $150M | $106M | $55M | $39M | $18M | $9M | $7M | $5M | $6M | $4M | |
| Current Assets | $2.27B | $1.37B | $1.22B | $694M | $954M | $1.23B | $779M | $321M | $249M | $261M | $356M | $324M | |
| PP&E (Net) | $55M | $61M | $87M | $73M | $53M | $34M | $22M | $13M | $8M | $7M | $9M | $9M | |
| PP&E (Gross) | $102M | $94M | $138M | $110M | $80M | $52M | $33M | $20M | $41M | $38M | $37M | $34M | |
| Accum. Depreciation | $47M | $33M | $51M | $37M | $27M | $18M | $12M | $7M | $33M | $31M | $28M | $25M | |
| Goodwill | $82M | $82M | $82M | $82M | $82M | $82M | $82M | $82M | $0 | · | · | · | |
| Intangibles | $389M | $119M | $379M | $706M | $725M | $715M | $710M | $701M | $133M | $0 | · | · | |
| Total Assets | $2.90B | $1.71B | $1.90B | $1.71B | $1.94B | $2.21B | $1.62B | $1.12B | $392M | $269M | $365M | $333M | |
| Accounts Payable | $45M | $17M | $6M | $27M | $23M | $19M | $10M | $6M | $15M | $6M | $6M | $4M | |
| Current Liabilities | $968M | $581M | $603M | $406M | $509M | $277M | $236M | $167M | $82M | $50M | $45M | $32M | |
| Capital Leases | $94M | $75M | $98M | $101M | $74M | $79M | $9M | · | · | · | · | · | |
| Deferred Tax | · | · | $56M | $103M | $137M | $137M | $131M | $122M | $0 | · | · | · | |
| Other Non-current Liabilities | $14M | $21M | $141.0K | $3M | · | $1M | $141.0K | $58.0K | $243.0K | $335.0K | $2M | $2M | |
| Total Liabilities | $3.10B | $2.80B | $2.71B | $2.05B | $1.94B | $1.73B | $1.03B | $768M | $235M | $150M | $139M | $35M | |
| Long-term Debt | · | · | · | · | $431M | · | $314M | $153M | $145M | · | · | · | |
| Total Debt | $287M | $285M | $284M | · | $431M | $309M | $314M | $153M | $145M | $98M | $95M | · | |
| Common Stock | $80.0K | $77.0K | $75.0K | $72.0K | $71.0K | $70.0K | $62.0K | $51.0K | $42.0K | $34.0K | $34.0K | $33.0K | |
| Paid-in Capital | $2.75B | $2.57B | $2.47B | $2.31B | $2.12B | $2.17B | $1.80B | $1.29B | $967M | $856M | $820M | $722M | |
| Retained Earnings | $-2.96B | $-3.65B | $-3.28B | $-2.66B | $-2.10B | $-1.63B | $-1.19B | $-939M | $-814M | $-735M | $-593M | $-423M | |
| AOCI | $11M | $-26M | $-1M | $5M | $-24M | $-61M | $-11M | $1M | $4M | $-1M | $-1M | $-737.0K | |
| Stockholders' Equity | $-205M | $-1.10B | $-819M | $-347M | $1M | $482M | $594M | $351M | $156M | $120M | $226M | $298M | |
| Liabilities + Equity | $2.90B | $1.71B | $1.90B | $1.71B | $1.94B | $2.21B | $1.62B | $1.12B | $392M | $269M | $365M | $333M | |
| Shares Outstanding | 81,474,366 | 77,704,188 | 75,708,889 | 73,104,692 | 70,828,226 | 69,718,096 | 61,935,870 | 50,606,147 | 41,612,395 | 34,169,410 | 33,916,559 | 32,898,392 |
Cash Flow 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $39M | $76M | $237M | $129M | $64M | $43M | $32M | $26M | $18M | $3M | $3M | · | |
| Stock-based Comp | $75M | $75M | $102M | $110M | $104M | $70M | $42M | $33M | $31M | $35M | $34M | $19M | |
| Deferred Tax | $-3.0K | $-56M | $-47M | $-34M | $377.0K | $6M | $9M | $0 | $199.0K | $-199.0K | $0 | $0 | |
| Amort. of Intangibles | $25M | $61M | $223M | $117M | $55M | $37M | $28M | $23M | $15M | $0 | $0 | · | |
| Restructuring | · | · | · | · | · | · | · | · | $0 | · | · | · | |
| Other Non-cash | $-85M | $161M | $177M | · | $105M | $124M | $70M | $41M | $20M | · | · | · | |
| Operating Cash Flow | $711M | $-108M | $-158M | $-357M | $-251M | $-194M | $-99M | $-28M | $-10M | $-104M | $-124M | $-57M | |
| CapEx | $9M | $7M | $28M | $32M | $28M | $18M | $14M | $7M | $3M | $2M | $3M | $5M | |
| Investing Cash Flow | $-862M | $44M | $-177M | $290M | $219M | $-562M | $-387M | $-43M | $13M | $104M | $-21M | $-145M | |
| Net Debt Issued | · | · | · | · | · | · | · | · | · | $0 | · | $-49.0K | |
| Stock Issued | · | · | · | · | · | $28M | $324M | $118M | $0 | $0 | $0 | $236M | |
| Net Stock Activity | · | · | · | · | · | $28M | $324M | $118M | · | $0 | · | $236M | |
| Financing Cash Flow | $331M | $256M | $646M | $168M | $21M | $669M | $613M | $132M | $44M | $968.0K | $154M | $237M | |
| Net Change in Cash | $203M | $185M | $314M | $99M | $-19M | $-79M | $126M | $58M | $53M | $299.0K | $8M | $34M | |
| Taxes Paid | $37M | $18M | $14M | $5M | $8M | $26M | $2M | $2M | $1M | $943.0K | $111.0K | $0 | |
| Free Cash Flow | $702M | $-114M | $-187M | · | $-280M | $-212M | $-112M | $-35M | $-13M | $-105M | $-127M | $-62M |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 50.1% | -37.5% | -46.9% | · | -69.5% | -113.4% | -78.6% | -43.7% | -33.1% | -159.7% | -454.6% | -393.8% | |
| Net Margin | 39.4% | -45.0% | -66.8% | · | -97.3% | -115.1% | -82.0% | -48.4% | -40.6% | -171.8% | -463.6% | -371.4% | |
| Pretax Margin | 40.2% | -45.0% | -74.2% | · | -96.2% | -105.8% | -78.2% | -48.4% | -40.0% | -171.1% | -462.3% | -390.0% | |
| EBITDA Margin | 52.3% | -28.1% | -21.6% | · | -57.6% | -102.0% | -68.1% | -33.8% | -24.0% | -159.7% | -454.6% | -393.8% | |
| ROA | 29.7% | -20.2% | -34.8% | · | -25.3% | -22.9% | -18.3% | -17.0% | -23.9% | -44.8% | -48.6% | -38.6% | |
| ROE | -331.5% | 33.8% | 84.1% | · | -985.1% | -88.3% | -40.0% | -34.8% | -57.2% | -82.2% | -65.0% | -43.1% | |
| ROIC | 1044.7% | 37.2% | 74.0% | · | -87.4% | -59.4% | -27.8% | -23.0% | -21.7% | -60.9% | -52.3% | -31.7% |
Liquidity & Solvency 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.3 | 2.4 | 2.0 | · | 1.9 | 4.4 | 3.3 | 1.9 | 3.0 | 5.3 | 7.8 | 10.0 | |
| Quick Ratio | 2.2 | 2.2 | 1.7 | · | 1.7 | 4.2 | 3.1 | 1.8 | 2.8 | 5.2 | 7.7 | 9.8 | |
| Debt / Equity | -1.4 | -0.3 | -0.3 | · | 300.0 | 0.6 | 0.5 | 0.4 | 0.9 | 0.8 | 0.4 | · | |
| LT Debt / Equity | · | -0.3 | -0.3 | · | 196.0 | 0.6 | 0.5 | 0.4 | 0.9 | 0.8 | 0.4 | · |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.8 | 0.4 | 0.5 | · | 0.3 | 0.2 | 0.2 | 0.4 | 0.6 | 0.3 | 0.1 | 0.1 | |
| Inventory Turnover | · | · | · | · | · | · | 0.7 | · | 0.9 | · | · | · | |
| Receivables Turnover | 10.2 | 5.1 | 5.9 | · | 6.0 | 6.1 | 5.0 | 4.9 | 6.0 | 4.6 | 4.7 | 9.3 |
Growth Rates 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 114.5% | -14.0% | 34.2% | 29.8% | 41.4% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 35.3% | 14.4% | 35.0% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 35.4% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.73B | $807M | $938M | $699M | $539M | $381M | $307M | $265M | $194M | $83M | $37M | $25M | |
| Net Income TTM | $683M | $-363M | $-627M | $-559M | $-524M | $-438M | $-252M | $-128M | $-79M | $-142M | $-170M | $-94M | |
| Market Cap | $6.19B | $3.51B | $2.09B | · | $2.82B | $4.25B | $2.97B | $1.74B | $694M | $373M | $1.10B | $1.70B | |
| Enterprise Value | $4.53B | $2.65B | $1.49B | · | $2.48B | $3.46B | $2.60B | $1.66B | $648M | $239M | $855M | · | |
| P/E | 9.8 | -9.5 | -3.3 | -4.9 | -5.4 | -9.2 | -11.2 | -10.7 | -5.2 | -3.4 | -10.1 | -17.4 | |
| P/S | 3.6 | 4.3 | 2.2 | · | 5.2 | 11.2 | 9.7 | 6.6 | 3.6 | 4.5 | 29.9 | 67.5 | |
| P/B | -30.1 | -3.2 | -2.5 | · | 1961.8 | 8.8 | 5.0 | 5.0 | 4.4 | 3.1 | 4.9 | 5.7 | |
| P / Cash Flow | 8.7 | -32.6 | -13.2 | · | -11.2 | -21.9 | -30.2 | -62.8 | -69.0 | -3.6 | -8.8 | -29.7 | |
| P / FCF | 8.8 | -30.7 | -11.2 | · | -10.1 | -20.1 | -26.5 | -50.0 | -52.7 | -3.5 | -8.6 | -27.5 | |
| EV / EBITDA | 5.0 | -11.7 | -7.4 | · | -8.0 | -8.9 | -12.5 | -18.6 | -13.9 | -1.8 | -5.1 | · | |
| EV / FCF | 6.5 | -23.2 | -8.0 | · | -8.9 | -16.3 | -23.2 | -47.9 | -49.2 | -2.3 | -6.7 | · | |
| EV / Revenue | 2.6 | 3.3 | 1.6 | · | 4.6 | 9.1 | 8.5 | 6.3 | 3.3 | 2.9 | 23.2 | · | |
| Earnings Yield | 10.2% | -10.5% | -30.4% | -20.4% | -18.6% | -10.9% | -8.9% | -9.3% | -19.2% | -29.4% | -9.9% | -5.7% |
Income Statement 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $361M | $273M | $165M | $211M | $179M | $1.18B | $213M | $197M | $187M | $210M | $307M | $197M | $214M | $220M | $167M | $217M | |
| R&D Expense | $99M | $101M | $133M | $100M | $113M | $109M | $125M | $161M | $132M | $116M | $121M | $164M | $186M | $195M | $189M | $165M | |
| SG&A Expense | $81M | $86M | $97M | $84M | $85M | $81M | $85M | $73M | $70M | $73M | $76M | $81M | $88M | $87M | $93M | $80M | |
| Operating Expenses | $212M | $228M | $236M | $208M | $214M | $206M | $376M | $251M | $227M | $256M | $301M | $315M | $423M | $338M | $368M | $285M | |
| Operating Income | $149M | $45M | $-71M | $3M | $-35M | $970M | $-162M | $-55M | $-40M | $-45M | $6M | $-118M | $-210M | $-118M | $-200M | $-68M | |
| Other Non-op | $-3M | $2M | $-13M | $7M | $-6M | $-6M | $9M | $-2M | $-2M | $2M | $19M | $-20M | $1M | $10M | $35M | $-38M | |
| Pretax Income | $98M | $-2M | $-139M | $-23M | $-71M | $930M | $-95M | $-98M | $-86M | $-85M | $-157M | $-167M | $-237M | $-135M | $-190M | $-127M | |
| Income Tax | $14M | $347.0K | $-4M | $-39M | $-6M | $63M | $-29M | $9M | $13M | $7M | $-1M | $-34M | $-39M | $4M | $-19M | $-18M | |
| Net Income | $83M | $-3M | $-135M | $16M | $-65M | $867M | $-66M | $-107M | $-99M | $-92M | $-156M | $-133M | $-199M | $-139M | $-171M | $-109M | |
| EPS (Basic) | $1.01 | $-0.03 | $-1.88 | $0.20 | $-0.83 | $11.09 | $-0.85 | $-1.39 | $-1.29 | $-1.20 | $-2.07 | $-1.76 | $-2.66 | $-1.88 | $-2.35 | $-1.53 | |
| EPS (Diluted) | $0.92 | $-0.03 | $-1.63 | $0.20 | $-0.83 | $10.04 | $-0.85 | $-1.39 | $-1.29 | $-1.20 | $-2.07 | $-1.76 | $-2.66 | $-1.88 | $-2.35 | $-1.53 | |
| Shares (Basic) | 83,006,808 | 82,521,023 | -155,203,905 | 78,471,119 | 78,151,240 | 78,115,836 | -153,301,665 | 76,925,523 | 76,725,070 | 76,496,127 | -148,999,422 | 75,377,997 | 74,730,433 | 73,729,284 | -142,514,082 | 71,654,671 | |
| Shares (Diluted) | 92,020,009 | 82,521,023 | -163,341,037 | 87,115,369 | 78,151,240 | 86,385,922 | -153,301,665 | 76,925,523 | 76,725,070 | 76,496,127 | -148,999,422 | 75,377,997 | 74,730,433 | 73,729,284 | -142,514,082 | 71,654,671 | |
| EBITDA | $149M | $60M | · | $3M | $-35M | $977M | · | $-55M | $-40M | $10M | · | $-118M | $-210M | $-75M | · | $-68M |
Balance Sheet 27
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.05B | $834M | $985M | $673M | $1.02B | $1.48B | $780M | $526M | $655M | $548M | · | $165M | $208M | $167M | · | $104M | |
| Short-term Investments | $1.18B | $1.06B | $961M | $1.02B | $972M | $547M | $360M | $487M | $439M | $336M | · | $130M | $130M | $119M | · | $184M | |
| Receivables | $239M | $220M | $182M | $203M | $196M | $210M | $159M | $200M | $187M | $198M | · | $166M | $178M | $202M | · | $124M | |
| Inventory | $91M | $76M | $80M | $53M | $34M | $22M | $23M | $36M | $32M | $30M | · | $36M | $32M | $27M | · | $15M | |
| Prepaid Expense | $58M | $66M | $67M | $64M | $54M | $57M | $44M | $33M | $46M | $56M | · | $44M | $42M | $99M | · | $90M | |
| Current Assets | $2.62B | $2.25B | $2.27B | $2.01B | $2.27B | $2.32B | $1.37B | $1.28B | $1.36B | $1.17B | · | $540M | $590M | $613M | · | $517M | |
| PP&E (Net) | $51M | $53M | $55M | $57M | $57M | $59M | $61M | $63M | $66M | $93M | · | $85M | $82M | $79M | · | $67M | |
| PP&E (Gross) | · | · | $102M | · | · | · | $94M | · | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | · | · | $47M | · | · | · | $33M | · | · | · | · | · | · | · | · | · | |
| Goodwill | $82M | $82M | $82M | $82M | $82M | $82M | $82M | $82M | $82M | $82M | · | $82M | $82M | $82M | · | $82M | |
| Intangibles | $403M | $381M | $389M | $396M | $144M | $118M | $119M | $330M | $330M | $330M | · | $423M | $452M | $686M | · | $750M | |
| Total Assets | $3.25B | $2.87B | $2.90B | $2.64B | $2.63B | $2.66B | $1.71B | $1.84B | $1.92B | $1.79B | · | $1.26B | $1.34B | $1.61B | · | $1.58B | |
| Accounts Payable | $40M | $25M | $45M | $37M | $27M | $15M | $17M | $13M | $24M | $27M | · | $19M | $26M | $26M | · | $21M | |
| Current Liabilities | $771M | $924M | $968M | $866M | $628M | $595M | $581M | $611M | $610M | $575M | · | $492M | $476M | $442M | · | $420M | |
| Capital Leases | $88M | $90M | $94M | $95M | $71M | $74M | $75M | $83M | $79M | $105M | · | $100M | $100M | $100M | · | $102M | |
| Deferred Tax | · | · | · | · | · | · | · | $56M | $56M | $56M | · | $52M | $52M | $103M | · | $137M | |
| Other Non-current Liabilities | $15M | $14M | $14M | $3M | $8M | $22M | $21M | $77.0K | $141.0K | $141.0K | · | $141.0K | $141.0K | $141.0K | · | $5M | |
| Total Liabilities | $3.42B | $3.05B | $3.10B | $2.80B | $2.84B | $2.84B | $2.80B | $2.90B | $2.90B | $2.68B | · | $1.93B | $1.92B | $2.07B | · | $1.80B | |
| Long-term Debt | $591M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Total Debt | $591M | $287M | · | $286M | $286M | $286M | · | $285M | $285M | $285M | · | $573M | $573M | $572M | · | $283M | |
| Common Stock | $82.0K | $81.0K | $80.0K | $79.0K | $78.0K | $78.0K | $77.0K | $76.0K | $76.0K | $76.0K | · | $75.0K | $75.0K | $73.0K | · | $71.0K | |
| Paid-in Capital | $2.71B | $2.78B | $2.75B | $2.67B | $2.63B | $2.61B | $2.57B | $2.53B | $2.51B | $2.49B | · | $2.45B | $2.42B | $2.34B | · | $2.22B | |
| Retained Earnings | $-2.88B | $-2.97B | $-2.96B | $-2.83B | $-2.85B | $-2.78B | $-3.65B | $-3.58B | $-3.47B | $-3.38B | · | $-3.13B | $-2.99B | $-2.80B | · | $-2.49B | |
| AOCI | $6M | $8M | $11M | $6M | $7M | $-14M | $-26M | $-4M | $-16M | $-6M | · | $10M | $-1M | $-2M | · | $36M | |
| Stockholders' Equity | $-165M | $-180M | $-205M | $-156M | $-207M | $-186M | $-1.10B | $-1.05B | $-980M | $-894M | $-819M | $-671M | $-579M | $-458M | $-347M | $-227M | |
| Liabilities + Equity | $3.25B | $2.87B | $2.90B | $2.64B | $2.63B | $2.66B | $1.71B | $1.84B | $1.92B | $1.79B | · | $1.26B | $1.34B | $1.61B | · | $1.58B | |
| Shares Outstanding | 83,327,286 | 82,882,024 | 81,474,366 | 79,931,766 | 79,378,145 | 79,225,276 | 77,704,188 | 76,952,124 | 76,900,123 | 76,653,960 | · | 75,459,022 | 75,318,233 | 74,012,034 | · | 71,854,892 |
Cash Flow 13
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $16M | $15M | $13M | $11M | $8M | $7M | $7M | $6M | $7M | $55M | $81M | $62M | $51M | $43M | $39M | $34M | |
| Stock-based Comp | $23M | $23M | $19M | $19M | $19M | $18M | $17M | $20M | $19M | $18M | $17M | $27M | $29M | $29M | $27M | $29M | |
| Deferred Tax | · | $-10.0K | $1.0K | · | · | $2.0K | $-56M | $-3.0K | $2.0K | $-1.0K | $4M | $-2.0K | $-51M | $-4.0K | · | · | |
| Amort. of Intangibles | $12M | $12M | $9M | $8M | $4M | $4M | $3M | $3M | $3M | $52M | $77M | $59M | $47M | $39M | $36M | $31M | |
| Restructuring | · | · | · | · | · | · | · | · | · | · | · | $23M | $8M | · | · | · | |
| Other Non-cash | · | $-95M | · | · | · | $-22M | · | · | · | $89M | · | · | · | $38M | · | · | |
| Operating Cash Flow | $129M | $-59M | $-34M | $-66M | $-58M | $870M | $-30M | $-77M | $-71M | $71M | $-100M | $-15M | $-14M | $-29M | $-166M | $-38M | |
| CapEx | $2M | $1M | $2M | $3M | $1M | $2M | $4M | $522.0K | $-7M | $10M | $6M | $6M | $6M | $10M | $9M | $5M | |
| Investing Cash Flow | $-123M | $-94M | $34M | $-290M | $-422M | $-184M | $268M | $-43M | $-66M | $-115M | $-94M | $-30M | $-24M | $-29M | $32M | $136M | |
| Financing Cash Flow | $212M | $6M | $303M | $15M | $4M | $9M | $26M | $-18M | $246M | $540.0K | $620M | $3M | $18M | $4M | $303M | $-140M | |
| Net Change in Cash | $216M | $-148M | $312M | $-347M | $-463M | $701M | $256M | $-129M | $104M | $-46M | $429M | $-43M | $-9M | $-62M | $175M | $-54M | |
| Taxes Paid | · | · | $-3M | $936.0K | $36M | $3M | $5M | $7M | $4M | $2M | $524.0K | $4M | $7M | $2M | $893.0K | $1M | |
| Free Cash Flow | · | $-60M | · | · | · | $868M | · | · | · | $61M | · | · | · | $-40M | · | · |
Profitability 7
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 41.3% | 16.5% | · | 1.4% | -19.5% | 82.5% | · | -27.7% | -21.5% | -21.6% | · | -60.1% | -98.0% | -53.4% | · | -31.4% | |
| Net Margin | 23.2% | -1.0% | · | 7.5% | -36.2% | 73.7% | · | -54.2% | -53.1% | -43.6% | · | -67.6% | -93.0% | -63.0% | · | -50.3% | |
| Pretax Margin | 27.1% | -0.90% | · | -10.9% | -39.7% | 79.1% | · | -49.8% | -45.9% | -40.3% | · | -84.8% | -111.1% | -61.3% | · | -58.6% | |
| EBITDA Margin | 41.3% | 22.1% | · | 1.4% | -19.5% | 83.1% | · | -27.7% | -21.5% | 4.7% | · | -60.1% | -98.0% | -33.9% | · | -31.4% | |
| ROA | 2.8% | -0.10% | · | 0.71% | -2.9% | 39.0% | · | -6.9% | -6.1% | -5.4% | · | -9.4% | -12.7% | -8.2% | · | -6.1% | |
| ROE | -44.9% | 1.5% | · | -2.6% | 10.9% | -160.5% | · | 12.4% | 12.7% | 13.6% | · | 29.6% | 52.2% | 50.7% | · | 179.2% | |
| ROIC | 30.0% | 48.2% | · | -1.6% | -40.2% | 904.6% | · | 7.7% | 6.7% | 8.1% | · | 96.6% | 2648.9% | -105.7% | · | -104.9% |
Liquidity & Solvency 4
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.4 | 2.4 | · | 2.3 | 3.6 | 3.9 | · | 2.1 | 2.2 | 2.0 | · | 1.1 | 1.2 | 1.4 | · | 1.2 | |
| Quick Ratio | 3.2 | 2.3 | · | 2.2 | 3.5 | 3.8 | · | 2.0 | 2.1 | 1.9 | · | 0.9 | 1.1 | 1.1 | · | 1.0 | |
| Debt / Equity | -3.6 | -1.6 | · | -1.8 | -1.4 | -1.5 | · | -0.3 | -0.3 | -0.3 | · | -0.9 | -1.0 | -1.3 | · | -1.2 | |
| LT Debt / Equity | -3.2 | · | · | · | -1.4 | -1.5 | · | -0.3 | -0.3 | -0.3 | · | -0.9 | -1.0 | -1.3 | · | -1.2 |
Efficiency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.5 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | |
| Receivables Turnover | 1.7 | 1.3 | · | 1.0 | 0.9 | 5.8 | · | 1.1 | 1.0 | 1.1 | · | 1.4 | 1.4 | 1.3 | · | 2.0 |
Valuation (TTM) 13
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.02B | $1.84B | · | $1.76B | $1.74B | $1.77B | · | $790M | $807M | $841M | · | $848M | $817M | $752M | · | $670M | |
| Net Income TTM | $32M | $815M | · | $711M | $596M | $569M | · | $-430M | $-523M | $-562M | · | $-580M | $-599M | $-527M | · | $-522M | |
| Market Cap | $6.80B | $5.65B | · | $4.91B | $3.88B | $4.04B | · | $2.85B | $2.35B | $2.23B | · | $1.69B | $3.06B | $3.59B | · | $3.61B | |
| Enterprise Value | $5.16B | $4.04B | · | $3.50B | $2.17B | $2.30B | · | $2.13B | $1.54B | $1.63B | · | $1.97B | $3.30B | $3.87B | · | $3.60B | |
| P/E | 313.7 | 7.3 | · | 7.7 | 7.5 | 8.3 | · | -6.6 | -4.4 | -3.9 | · | -2.9 | -5.0 | -6.6 | · | -6.8 | |
| P/S | 6.6 | 3.1 | · | 2.8 | 2.2 | 2.3 | · | 3.6 | 2.9 | 2.7 | · | 2.0 | 3.8 | 4.8 | · | 5.4 | |
| P/B | -41.1 | -31.3 | · | -31.5 | -18.8 | -21.7 | · | -2.7 | -2.4 | -2.5 | · | -2.5 | -5.3 | -7.8 | · | -15.9 | |
| P / Cash Flow | · | -95.6 | · | · | · | 4.6 | · | · | · | 31.5 | · | · | · | -121.6 | · | · | |
| P / FCF | · | -93.7 | · | · | · | 4.6 | · | · | · | 36.5 | · | · | · | -90.2 | · | · | |
| EV / EBITDA | 34.6 | 66.9 | · | 1161.8 | -62.2 | 2.3 | · | -39.0 | -38.4 | 163.9 | · | -16.7 | -15.7 | -51.8 | · | -52.8 | |
| EV / FCF | · | -67.1 | · | · | · | 2.6 | · | · | · | 26.6 | · | · | · | -97.4 | · | · | |
| EV / Revenue | 5.0 | 2.2 | · | 2.0 | 1.3 | 1.3 | · | 2.7 | 1.9 | 1.9 | · | 2.3 | 4.0 | 5.1 | · | 5.4 | |
| Earnings Yield | 0.32% | 13.8% | · | 13.1% | 13.4% | 12.1% | · | -15.2% | -22.6% | -25.8% | · | -34.9% | -20.2% | -15.1% | · | -14.6% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $1.73B | $807M | $938M | $699M | $539M |
| Operating Margin % | 50.1% | -37.5% | -46.9% | — | -69.5% |
| Net Income | $683M | $-363M | $-627M | $-559M | $-524M |
| Diluted EPS | $7.78 | $-4.73 | $-8.37 | $-7.79 | $-7.43 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | -1.4 | -0.3 | -0.3 | — | 300.0 |
| Current Ratio | 2.3 | 2.4 | 2.0 | — | 1.9 |
| Quick Ratio | 2.2 | 2.2 | 1.7 | — | 1.7 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $702M | $-114M | $-187M | — | $-280M |
Trading Signals Recent buy/sell signals with entry price and risk/reward ratio
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Institutional owners (13F) 403 filers · $5.4B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 83 (+22 vs prior Q) | 43 (-9 vs prior Q) | 133 (-4 vs prior Q) | 109 (+6 vs prior Q) | +2.1M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| RTW INVESTMENTS, LP | $631,875,072 | 7,746,415 | 11.70% | Shares |
| JANUS HENDERSON GROUP PLC | $479,178,655 | 7,034,622 | 8.87% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $401,986,014 | 4,928,111 | 7.45% | Shares |
| STATE STREET CORP | $375,136,515 | 4,598,952 | 6.95% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $305,000,589 | 3,739,127 | 5.65% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $292,435,873 | 3,585,091 | 5.42% | Shares |
| WESTFIELD CAPITAL MANAGEMENT CO LP | $159,563,645 | 1,956,156 | 2.96% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $155,132,041 | 1,901,417 | 2.87% | Shares |
| Hood River Capital Management LLC | $141,818,662 | 1,738,613 | 2.63% | Shares |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC | $140,519,660 | 1,722,688 | 2.60% | Shares |
| TANG CAPITAL MANAGEMENT LLC | $122,355,000 | 1,500,000 | 2.27% | Shares |
| Driehaus Capital Management LLC | $117,469,528 | 1,440,107 | 2.18% | Shares |
| Jefferies Financial Group Inc. | $110,693,916 | 1,357,042 | 2.05% | Shares |
| FULLER & THALER ASSET MANAGEMENT, INC. | $94,361,749 | 1,156,819 | 1.75% | Shares |
| Pictet Asset Management Holding SA | $93,629,635 | 1,147,844 | 1.73% | Shares |
| ARMISTICE CAPITAL, LLC | $87,393,690 | 1,071,395 | 1.62% | Shares |
| Blue Sparrow, LLC /DE | $85,705,599 | 1,050,700 | 1.59% | Shares |
| D. E. Shaw & Co., Inc. | $77,478,857 | 949,845 | 1.44% | Shares |
| Palo Alto Investors LP | $74,950,268 | 918,846 | 1.39% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $64,449,436 | 790,112 | 1.19% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $59,015,895 | 723,500 | 1.09% | Shares |
| Boston Partners | $57,080,953 | 699,871 | 1.06% | Shares |
| FMR LLC | $56,956,987 | 698,259 | 1.05% | Shares |
| BANK OF AMERICA CORP /DE/ | $56,350,840 | 690,828 | 1.04% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $53,377,940 | 654,382 | 0.99% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $51,486,821 | 631,199 | 0.95% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $47,953,943 | 587,887 | 0.89% | Shares |
| Ensign Peak Advisors, Inc | $41,442,128 | 508,056 | 0.77% | Shares |
| AMERICAN CENTURY COMPANIES INC | $40,866,277 | 500,995 | 0.76% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $36,050,432 | 441,957 | 0.67% | Shares |
| Parkman Healthcare Partners LLC | $35,539,315 | 435,691 | 0.66% | Shares |
| LOOMIS SAYLES & CO L P | $35,387,921 | 433,835 | 0.66% | Shares |
| Defilade Capital Management, L.P. | $35,376,827 | 433,699 | 0.66% | Shares |
| GOLDMAN SACHS GROUP INC | $34,153,522 | 418,702 | 0.63% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $32,274,149 | 395,662 | 0.60% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $30,892,190 | 378,720 | 0.57% | Shares |
| Qube Research & Technologies Ltd | $25,398,777 | 311,374 | 0.47% | Shares |
| ARMISTICE CAPITAL, LLC | $24,471,000 | 300,000 | 0.45% | Call option |
| Public Sector Pension Investment Board | $23,249,326 | 285,023 | 0.43% | Shares |
| SEGALL BRYANT & HAMILL, LLC | $22,165,424 | 271,735 | 0.41% | Shares |
| CITADEL ADVISORS LLC | $20,338,011 | 249,332 | 0.38% | Shares |
| MORGAN STANLEY | $18,990,210 | 232,808 | 0.35% | Shares |
| Boxer Capital Management, LLC | $16,314,000 | 200,000 | 0.30% | Shares |
| RHUMBLINE ADVISERS | $15,718,994 | 192,706 | 0.29% | Shares |
| AMERIPRISE FINANCIAL INC | $13,904,178 | 170,457 | 0.26% | Shares |
| PRUDENTIAL FINANCIAL INC | $13,746,176 | 168,520 | 0.25% | Shares |
| BlackRock, Inc. | $13,589,562 | 166,600 | 0.25% | Shares |
| Rock Springs Capital Management LP | $13,238,648 | 162,298 | 0.25% | Shares |
| Hudson Bay Capital Management LP | $13,033,091 | 159,778 | 0.24% | Shares |
| Russell Investments Group, Ltd. | $12,687,724 | 155,544 | 0.23% | Shares |
| Schonfeld Strategic Advisors LLC | $12,025,457 | 147,425 | 0.22% | Shares |
| MARSHALL WACE, LLP | $11,724,301 | 143,733 | 0.22% | Shares |
| Swiss National Bank | $11,539,300 | 141,465 | 0.21% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $11,063,583 | 135,633 | 0.20% | Shares |
| Legal & General Group Plc | $10,362,979 | 127,044 | 0.19% | Shares |
| CITIGROUP INC | $9,272,143 | 113,671 | 0.17% | Shares |
| FIRST TRUST ADVISORS LP | $9,246,285 | 113,354 | 0.17% | Shares |
| Longaeva Partners L.P. | $9,119,771 | 111,803 | 0.17% | Shares |
| JUPITER ASSET MANAGEMENT LTD | $8,927,184 | 109,442 | 0.17% | Shares |
| SCHRODER INVESTMENT MANAGEMENT GROUP | $8,215,404 | 100,716 | 0.15% | Shares |
| SECTOR GAMMA AS | $8,157,000 | 100,000 | 0.15% | Shares |
| WCM INVESTMENT MANAGEMENT, LLC | $7,651,184 | 93,799 | 0.14% | Shares |
| PANAGORA ASSET MANAGEMENT INC | $7,256,141 | 88,956 | 0.13% | Shares |
| VOYA INVESTMENT MANAGEMENT LLC | $7,239,501 | 88,752 | 0.13% | Shares |
| ALLIANCEBERNSTEIN L.P. | $7,217,488 | 105,937 | 0.13% | Shares |
| Aquatic Capital Management LLC | $6,808,648 | 83,470 | 0.13% | Shares |
| XTX Topco Ltd | $6,682,459 | 81,923 | 0.12% | Shares |
| MOORE CAPITAL MANAGEMENT, LP | $6,165,713 | 75,588 | 0.11% | Shares |
| PINNACLE ASSOCIATES LTD | $5,745,383 | 70,435 | 0.11% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $5,744,722 | 84,320 | 0.11% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $5,614,300 | 68,828 | 0.10% | Shares |
| Capricorn Fund Managers Ltd | $5,212,323 | 63,900 | 0.10% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $5,000,241 | 61,300 | 0.09% | Call option |
| INTECH INVESTMENT MANAGEMENT LLC | $4,696,882 | 57,581 | 0.09% | Shares |
| ExodusPoint Capital Management, LP | $4,672,166 | 57,278 | 0.09% | Shares |
| LOS ANGELES CAPITAL MANAGEMENT LLC | $4,561,884 | 55,926 | 0.08% | Shares |
| BARCLAYS PLC | $4,169,858 | 51,120 | 0.08% | Shares |
| ORBIMED ADVISORS LLC | $4,005,087 | 49,100 | 0.07% | Shares |
| MetLife Investment Management, LLC | $3,932,653 | 48,212 | 0.07% | Shares |
| Point72 Europe (London) LLP | $3,829,919 | 62,407 | 0.07% | Shares |
| MILLENNIUM MANAGEMENT LLC | $3,792,516 | 46,494 | 0.07% | Shares |
| Phocas Financial Corp. | $3,766,087 | 46,170 | 0.07% | Shares |
| MARTINGALE ASSET MANAGEMENT L P | $3,627,826 | 44,475 | 0.07% | Shares |
| Quadrature Capital Ltd | $3,589,488 | 44,005 | 0.07% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $3,531,981 | 43,300 | 0.07% | Put option |
| STATE OF WISCONSIN INVESTMENT BOARD | $3,436,299 | 42,127 | 0.06% | Shares |
| CREDIT AGRICOLE S A | $3,344,370 | 41,000 | 0.06% | Shares |
| Fisher Asset Management, LLC | $3,322,345 | 40,730 | 0.06% | Shares |
| HSBC HOLDINGS PLC | $3,200,425 | 38,732 | 0.06% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $3,134,490 | 38,427 | 0.06% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $3,114,179 | 38,178 | 0.06% | Shares |
| CenterBook Partners LP | $3,082,938 | 37,795 | 0.06% | Shares |
| Rafferty Asset Management, LLC | $3,069,805 | 37,634 | 0.06% | Shares |
| FIFTH THIRD BANCORP | $3,044,843 | 37,328 | 0.06% | Shares |
| BURNEY CO/ | $3,044,192 | 37,320 | 0.06% | Shares |
| Vanguard Global Advisers, LLC | $3,033,180 | 37,185 | 0.06% | Shares |
| Arrowpoint Investment Partners (Singapore) Pte. Ltd. | $3,007,731 | 36,873 | 0.06% | Shares |
| Louisiana State Employees Retirement System | $2,969,148 | 36,400 | 0.05% | Shares |
| JANE STREET GROUP, LLC | $2,854,950 | 35,000 | 0.05% | Put option |
| CASTLEARK MANAGEMENT LLC | $2,765,223 | 33,900 | 0.05% | Shares |
Company insiders 33 insiders · 13 officers · 14 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Stuart Walter Peltz | Chief Executive Officer | Feb. 1, 2022 S | 38,728 | 0 | 0 | $0 |
| Pierre Gravier | CHIEF FINANCIAL OFFICER | July 14, 2026 S | 83,986 | 0 | 1 | $-280,743 |
| Emily Luisa Hill | Chief Financial Officer | Feb. 1, 2022 S | 37,169 | 0 | 0 | $0 |
| Shane William Charles Kovacs | Chief Financial Officer | May 9, 2017 M | 37,850 | 0 | 0 | $0 |
| Claudia De Oliveira Ribeiro Hirawat | President | Jan. 15, 2015 M | 39,247 | 0 | 0 | $0 |
| Marcio Souza | Chief Operating Officer | Feb. 10, 2020 M | 6,744 | 0 | 0 | $0 |
| Neil Gregory Almstead | CHIEF TECHNICAL OPS OFFICER | July 9, 2026 M | 60,299 | 0 | 20 | $-9,184,852 |
| Mark Elliott Boulding | EXEC. VP AND CLO | July 6, 2026 M | 105,272 | 0 | 12 | $-1,254,986 |
| Christine Marie Utter | SVP, CHIEF ACCOUNTING OFFICER | June 17, 2026 M | 70,199 | 0 | 1 | $-1,487,474 |
| Eric Pauwels | CHIEF BUSINESS OFFICER | June 10, 2026 S | 73,411 | 0 | 28 | $-7,477,160 |
| Mark Rothera | Chief Commercial Officer | May 24, 2017 M | 33,739 | 0 | 0 | $0 |
| Tuyen Ong | Chief Medical Officer | Jan. 3, 2017 A | 6,000 | 0 | 0 | $0 |
| Robert J. Spiegel | Chief Medical Officer | Jan. 4, 2016 A | 3,239 | 0 | 0 | $0 |
| Hege Elisabeth Sollie-Zetlmayer | Director | July 28, 2026 A | 52,526 | 0 | 0 | $0 |
| Mary L. Smith | Director | July 9, 2026 M | 21,813 | 0 | 2 | $-1,425,060 |
| Stephanie Okey | Director | Jan. 7, 2022 A | 4,163 | 0 | 0 | $0 |
| Emma Reeve | Director | Jan. 7, 2022 A | 7,528 | 0 | 0 | $0 |
| Allan Steven Jacobson | Director | Jan. 7, 2022 A | 8,348 | 0 | 0 | $0 |
| Dawn Svoronos | Director | Jan. 7, 2022 A | 29,755 | 0 | 0 | $0 |
| Jerome B Zeldis | Director | Jan. 7, 2022 A | 6,500 | 0 | 0 | $0 |
| Cameron Geoffrey Mcdonough | Director | Jan. 3, 2017 A | — | 0 | 0 | $0 |
| Adam Koppel | Director | Jan. 3, 2017 A | 2,333,333 | 0 | 0 | $0 |
| Ronald C Renaud JR | Director | Jan. 3, 2017 A | — | 0 | 0 | $0 |
| Richard Aldrich | Director | June 8, 2015 M | 0 | 0 | 0 | $0 |
| Michael L Kranda | Director | March 16, 2015 S | 2,242 | 0 | 0 | $0 |
| Axel Bolte | Director | June 25, 2013 P | 20,000 | 0 | 0 | $0 |
| HBM Healthcare Investments (Cayman) Ltd. | 10% owner | Dec. 17, 2013 S | 2,441,504 | 0 | 0 | $0 |
| Matthew B. Klein | — | Aug. 4, 2026 S | 383,868 | 0 | 1 | $-705,722 |
| Michael Schmertzler | — | Jan. 2, 2026 A | 163,266 | 0 | 0 | $0 |
| Glenn Steele JR MD PHD | — | Jan. 2, 2026 A | 22,500 | 0 | 1 | $-916,200 |
| David P Southwell | — | Jan. 2, 2026 A | 20,850 | 0 | 0 | $0 |
| Complete Pharma Holdings II, LLC | — | April 28, 2017 J | 0 | 0 | 0 | $0 |
| CREDIT SUISSE/ | — | June 25, 2013 C | 2,256,882 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 3 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Brookside Capital Partners Fund, L.P., Brookside Capital Trading Fund, L.P. ×5 filings | Jan. 30, 2015 | — | Initial filing | — | SEC |
| HBM Healthcare Investments (Cayman) Ltd. (“HBM”) ×2 filings | Nov. 12, 2014 | — | Initial filing | — | SEC |
| HBM Healthcare Investments (Cayman) Ltd. | July 5, 2013 | — | Initial filing | — | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 87 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| IBRN · iShares Trust | 3.81% | 4,145 SH | Aug. 8, 2026 | Daily |
| PSCH · Invesco Exchange-Traded Fund Trust … | 3.08% | 71,992 SH | Aug. 8, 2026 | Daily |
| PBE · Invesco Exchange-Traded Fund Trust | 2.59% | 128,216 SH | Aug. 8, 2026 | Daily |
| XSMO · Invesco Exchange-Traded Fund Trust | 1.52% | 642,023 SH | Aug. 8, 2026 | Daily |
| BBP · ETFis Series Trust I | 1.37% | 12,510 NS | April 30, 2026 | N-PORT |
| SIXS · EXCHANGE TRADED CONCEPTS TRUST | 1.30% | 22,380 NS | May 31, 2026 | N-PORT |
| RZG · Invesco Exchange-Traded Fund Trust | 1.25% | 23,662 SH | Aug. 8, 2026 | Daily |
| GURU · Global X Funds | 1.03% | 9,268 NS | April 30, 2026 | N-PORT |
| LABU · Direxion Shares ETF Trust | 0.93% | 73,928 NS | April 30, 2026 | N-PORT |
| VAMO · Cambria ETF Trust | 0.83% | 10,625 NS | April 30, 2026 | N-PORT |
| VIOG · VANGUARD ADMIRAL FUNDS | 0.74% | 98,733 SH | Aug. 8, 2026 | Daily |
| VMAX · Lattice Strategies Trust | 0.72% | 5,120 NS | April 30, 2026 | N-PORT |
| IJT · iShares Trust | 0.66% | 770,376 SH | Aug. 8, 2026 | Daily |
| FNY · First Trust Exchange-Traded AlphaDE… | 0.51% | 40,257 NS | April 30, 2026 | N-PORT |
| MMSC · First Trust Exchange-Traded Fund VI… | 0.49% | 3,490 NS | May 31, 2026 | N-PORT |
| CLSE · Trust for Professional Managers | 0.49% | 40,488 NS | May 31, 2026 | N-PORT |
| IBB · iShares Trust | 0.44% | 588,017 SH | Aug. 8, 2026 | Daily |
| HQGO · Lattice Strategies Trust | 0.43% | 3,203 NS | April 30, 2026 | N-PORT |
| IBBQ · Invesco Exchange-Traded Fund Trust … | 0.41% | 4,514 SH | Aug. 8, 2026 | Daily |
| OASC · Unified Series Trust | 0.40% | 4,569 NS | May 31, 2026 | N-PORT |
| BRNY · EA Series Trust | 0.40% | 34,057 NS | April 30, 2026 | N-PORT |
| VIOO · VANGUARD ADMIRAL FUNDS | 0.37% | 290,018 SH | Aug. 8, 2026 | Daily |
| XJR · iShares Trust | 0.37% | 9,802 SH | Aug. 8, 2026 | Daily |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.34% | 35,034 NS | May 31, 2026 | N-PORT |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.34% | 75,795 SH | Aug. 8, 2026 | Daily |
| ESSC · Strategy Shares | 0.34% | 1,335 NS | April 30, 2026 | N-PORT |
| IJR · iShares Trust | 0.32% | 5,058,562 SH | Aug. 8, 2026 | Daily |
| IWO · iShares Trust | 0.31% | 641,280 SH | Aug. 8, 2026 | Daily |
| BIB · ProShares Trust | 0.31% | 3,062 NS | May 31, 2026 | N-PORT |
| FSCC · Federated Hermes ETF Trust | 0.31% | 11,451 NS | May 31, 2026 | N-PORT |
| GSSC · Goldman Sachs ETF Trust | 0.30% | 39,411 NS | May 31, 2026 | N-PORT |
| SAA · ProShares Trust | 0.26% | 961 NS | May 31, 2026 | N-PORT |
| ROUS · Lattice Strategies Trust | 0.25% | 22,443 NS | April 30, 2026 | N-PORT |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.24% | 27,276 NS | April 30, 2026 | N-PORT |
| BKSE · BNY Mellon ETF Trust | 0.23% | 2,877 NS | April 30, 2026 | N-PORT |
| AFSM · First Trust Exchange-Traded Fund VI… | 0.23% | 3,003 NS | May 31, 2026 | N-PORT |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.20% | 477,030 SH | Aug. 8, 2026 | Daily |
| FNX · First Trust Exchange-Traded AlphaDE… | 0.20% | 39,967 NS | April 30, 2026 | N-PORT |
| VBK · VANGUARD INDEX FUNDS | 0.19% | 1,099,640 SH | Aug. 8, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.18% | 72,691 SH | Aug. 8, 2026 | Daily |
| IWM · iShares Trust | 0.18% | 2,102,256 SH | Aug. 8, 2026 | Daily |
| LRGF · iShares Trust | 0.16% | 84,151 SH | Aug. 8, 2026 | Daily |
| ISCG · iShares Trust | 0.16% | 22,792 SH | Aug. 8, 2026 | Daily |
| RSSL · Global X Funds | 0.16% | 34,125 NS | April 30, 2026 | N-PORT |
| FAD · First Trust Exchange-Traded AlphaDE… | 0.15% | 11,071 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.15% | 3,710 NS | May 31, 2026 | N-PORT |
| VFMO · VANGUARD WELLINGTON FUND | 0.14% | 35,428 SH | Aug. 8, 2026 | Daily |
| FSMD · FIDELITY COVINGTON TRUST | 0.14% | 49,932 NS | April 30, 2026 | N-PORT |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.14% | 5,350 SH | Aug. 8, 2026 | Daily |
| SMDX · Tidal Trust III | 0.13% | 2,579 NS | April 30, 2026 | N-PORT |