Landscape Capital Management L.L.C. purchased a new position in PTC Therapeutics, Inc. (NASDAQ:PTCT – Free Report) during the 2nd quarter, HoldingsChannel reports. The firm purchased 14,958 shares of the biopharmaceutical company’s stock, valued at approximately $1,220,000.
A number of other hedge funds also recently added to or reduced their stakes in PTCT. Teachers Retirement System of The State of Kentucky boosted its stake in PTC Therapeutics by 86.9% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 40,858 shares of the biopharmaceutical company’s stock valued at $3,103,000 after purchasing an additional 19,000 shares during the period. Thrivent Financial for Lutherans acquired a new stake in shares of PTC Therapeutics in the fourth quarter valued at approximately $4,191,000. Royce & Associates LP raised its holdings in shares of PTC Therapeutics by 146.5% during the fourth quarter. Royce & Associates LP now owns 80,794 shares of the biopharmaceutical company’s stock valued at $6,137,000 after buying an additional 48,015 shares during the last quarter. M&T Bank Corp bought a new stake in shares of PTC Therapeutics during the fourth quarter valued at approximately $1,859,000. Finally, Jefferies Financial Group Inc. boosted its position in shares of PTC Therapeutics by 4.7% during the fourth quarter. Jefferies Financial Group Inc. now owns 1,658,481 shares of the biopharmaceutical company’s stock worth $125,978,000 after buying an additional 73,803 shares during the period.
Analyst Upgrades and Downgrades
PTCT has been the topic of several recent analyst reports. Wells Fargo & Company lifted their target price on PTC Therapeutics from $106.00 to $109.00 and gave the company an “overweight” rating in a research note on Thursday, August 13th. Jefferies Financial Group upgraded shares of PTC Therapeutics from a “hold” rating to a “buy” rating and increased their target price for the company from $76.00 to $85.00 in a research report on Wednesday, May 27th. Citigroup upgraded shares of PTC Therapeutics from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $75.00 to $108.00 in a research report on Tuesday, June 9th. Weiss Ratings lowered shares of PTC Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, August 17th. Finally, Cantor Fitzgerald upped their target price on PTC Therapeutics from $124.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $98.55.
Insiders Place Their Bets
In related news, Director Michael Schmertzler sold 12,500 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $73.32, for a total transaction of $916,500.00. Following the completion of the sale, the director directly owned 1,374,094 shares in the company, valued at approximately $100,748,572.08. This trade represents a 0.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Neil Gregory Almstead sold 24,613 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $88.89, for a total value of $2,187,849.57. Following the sale, the insider owned 60,299 shares of the company’s stock, valued at approximately $5,359,978.11. This represents a 28.99% 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. Insiders sold a total of 205,343 shares of company stock valued at $16,774,704 in the last three months. Company insiders own 5.30% of the company’s stock.
PTC Therapeutics Stock Performance
Shares of PTCT stock opened at $69.82 on Monday. The company has a market capitalization of $5.83 billion, a price-to-earnings ratio of -120.38, a P/E/G ratio of 2.15 and a beta of 0.56. PTC Therapeutics, Inc. has a 1-year low of $48.28 and a 1-year high of $90.87. The stock’s fifty day simple moving average is $77.62 and its 200-day simple moving average is $72.34.
PTC Therapeutics (NASDAQ:PTCT – Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.24 by $0.68. The business had revenue of $360.52 million during the quarter, compared to analysts’ expectations 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 last year, the company posted ($0.83) earnings per share. On average, sell-side analysts predict that PTC Therapeutics, Inc. will post 1.17 EPS for the current year.
PTC Therapeutics 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.
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