Deutsche Bank AG Takes Position in PTC Therapeutics, Inc. $PTCT

Deutsche Bank AG purchased a new position in PTC Therapeutics, Inc. (NASDAQ:PTCTFree Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 296,899 shares of the biopharmaceutical company’s stock, valued at approximately $24,218,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PTCT. Janus Henderson Group PLC boosted its holdings in PTC Therapeutics by 48.3% in the first quarter. Janus Henderson Group PLC now owns 7,193,433 shares of the biopharmaceutical company’s stock worth $489,997,000 after acquiring an additional 2,342,101 shares in the last quarter. State Street Corp raised its position in shares of PTC Therapeutics by 34.2% in the 4th quarter. State Street Corp now owns 4,206,126 shares of the biopharmaceutical company’s stock worth $319,497,000 after purchasing an additional 1,071,343 shares during the last quarter. Toronto Dominion Bank raised its position in shares of PTC Therapeutics by 27.5% in the 4th quarter. Toronto Dominion Bank now owns 4,138,215 shares of the biopharmaceutical company’s stock worth $314,339,000 after purchasing an additional 891,690 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in PTC Therapeutics by 4,013.1% in the 4th quarter. BNP Paribas Financial Markets now owns 828,662 shares of the biopharmaceutical company’s stock worth $62,945,000 after purchasing an additional 808,515 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in PTC Therapeutics by 6.2% during the 4th quarter. Vanguard Group Inc. now owns 8,803,203 shares of the biopharmaceutical company’s stock valued at $668,691,000 after purchasing an additional 514,204 shares during the last quarter.

Analyst Ratings Changes

A number of equities analysts recently weighed in on PTCT shares. Weiss Ratings lowered shares of PTC Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday. Jefferies Financial Group upgraded PTC Therapeutics from a “hold” rating to a “buy” rating and boosted their price target for the stock from $76.00 to $85.00 in a research note on Wednesday, May 27th. Zacks Research cut PTC Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. TD Cowen upgraded PTC Therapeutics from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $75.00 to $90.00 in a report on Friday, May 8th. Finally, Barclays boosted their target price on PTC Therapeutics from $120.00 to $122.00 and gave the stock an “overweight” rating in a research report on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $98.55.

Read Our Latest Stock Analysis on PTC Therapeutics

Insider Activity

In related news, Director Mary L. Smith sold 15,834 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $1,963,170. This trade represents a 42.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Mark Elliott Boulding sold 2,813 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $72.57, for a total value of $204,139.41. Following the completion of the sale, the vice president owned 105,272 shares in the company, valued at $7,639,589.04. This represents a 2.60% 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. Over the last 90 days, insiders have sold 205,343 shares of company stock valued at $16,774,704. Company insiders own 5.30% of the company’s stock.

PTC Therapeutics Stock Performance

NASDAQ:PTCT opened at $69.82 on Friday. The stock has a 50-day simple moving average of $77.62 and a two-hundred day simple moving average of $72.35. The firm has a market capitalization of $5.83 billion, a PE ratio of -120.38, a P/E/G ratio of 2.18 and a beta of 0.56. PTC Therapeutics, Inc. has a 52-week low of $48.28 and a 52-week high of $90.87.

PTC Therapeutics (NASDAQ:PTCTGet Free Report) last released its earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.68. The company had revenue of $360.52 million during the quarter, compared to analyst estimates of $298.63 million. PTC Therapeutics had a negative net margin of 3.80% and a negative return on equity of 362.45%. The firm’s quarterly revenue was up 101.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.83) EPS. Equities analysts forecast that PTC Therapeutics, Inc. will post 1.17 earnings per share for the current fiscal year.

About PTC Therapeutics

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for PTC Therapeutics (NASDAQ:PTCT)

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