PTC Therapeutics, Inc. $PTCT Shares Purchased by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. increased its stake in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 4.7% during the fourth quarter, HoldingsChannel reports. The firm owned 1,658,481 shares of the biopharmaceutical company’s stock after acquiring an additional 73,803 shares during the period. PTC Therapeutics accounts for approximately 0.6% of Jefferies Financial Group Inc.’s holdings, making the stock its 12th biggest position. Jefferies Financial Group Inc.’s holdings in PTC Therapeutics were worth $125,978,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of PTCT. Smartleaf Asset Management LLC increased its stake in PTC Therapeutics by 101.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 236 shares in the last quarter. Optiver Holding B.V. increased its stake in PTC Therapeutics by 96.5% in the 3rd quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 249 shares in the last quarter. Comerica Bank increased its stake in PTC Therapeutics by 868.5% in the 3rd quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 469 shares in the last quarter. Salomon & Ludwin LLC purchased a new position in PTC Therapeutics in the 4th quarter worth about $41,000. Finally, IFP Advisors Inc increased its stake in PTC Therapeutics by 68.1% in the 3rd quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 310 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PTCT shares. Wells Fargo & Company lifted their price target on PTC Therapeutics from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Jefferies Financial Group cut PTC Therapeutics from a “buy” rating to a “hold” rating and dropped their price target for the stock from $91.00 to $76.00 in a research note on Monday, March 30th. Morgan Stanley reissued an “overweight” rating and issued a $94.00 price target on shares of PTC Therapeutics in a research note on Friday, May 8th. Raymond James Financial started coverage on PTC Therapeutics in a research note on Friday, April 10th. They issued an “outperform” rating and a $108.00 price target on the stock. Finally, Truist Financial raised PTC Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $88.36.

PTC Therapeutics Trading Down 1.4%

Shares of NASDAQ PTCT opened at $68.81 on Friday. PTC Therapeutics, Inc. has a one year low of $43.17 and a one year high of $87.50. The firm has a market capitalization of $5.71 billion, a PE ratio of -29.53, a PEG ratio of 12.83 and a beta of 0.53. The business has a 50-day moving average price of $69.00 and a two-hundred day moving average price of $72.41.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.42. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 22.58%.The firm had revenue of $272.55 million during the quarter, compared to analyst estimates of $217.42 million. During the same period last year, the company posted $10.04 EPS. The business’s quarterly revenue was up 43.5% compared to the same quarter last year. Research analysts anticipate that PTC Therapeutics, Inc. will post 0.19 EPS for the current year.

Insider Activity

In other PTC Therapeutics news, Director Stephanie Okey sold 15,167 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $70.00, for a total transaction of $1,061,690.00. Following the completion of the sale, the director directly owned 8,000 shares in the company, valued at approximately $560,000. This trade represents a 65.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Mark Elliott Boulding sold 2,812 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $72.18, for a total value of $202,970.16. Following the sale, the vice president owned 105,212 shares of the company’s stock, valued at $7,594,202.16. The trade was a 2.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 115,022 shares of company stock worth $7,925,979. Corporate insiders own 5.50% of the company’s stock.

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.