Jefferies Financial Group Inc. Acquires Shares of 1,584,678 PTC Therapeutics, Inc. $PTCT

Jefferies Financial Group Inc. bought a new stake in PTC Therapeutics, Inc. (NASDAQ:PTCT) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,584,678 shares of the biopharmaceutical company’s stock, valued at approximately $97,252,000. PTC Therapeutics makes up approximately 0.5% of Jefferies Financial Group Inc.’s investment portfolio, making the stock its 7th largest holding. Jefferies Financial Group Inc. owned about 1.97% of PTC Therapeutics as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Empowered Funds LLC bought a new stake in shares of PTC Therapeutics during the first quarter worth $1,999,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of PTC Therapeutics by 11.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 178,755 shares of the biopharmaceutical company’s stock worth $9,109,000 after buying an additional 18,504 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of PTC Therapeutics by 23.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 266,171 shares of the biopharmaceutical company’s stock valued at $13,000,000 after acquiring an additional 49,728 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in PTC Therapeutics in the second quarter valued at about $651,000. Finally, Los Angeles Capital Management LLC boosted its stake in PTC Therapeutics by 202.7% during the 2nd quarter. Los Angeles Capital Management LLC now owns 45,909 shares of the biopharmaceutical company’s stock worth $2,242,000 after acquiring an additional 30,745 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Morgan Stanley boosted their target price on PTC Therapeutics from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, February 23rd. Wells Fargo & Company cut their price objective on PTC Therapeutics from $93.00 to $86.00 and set an “overweight” rating on the stock in a report on Friday, February 20th. Royal Bank Of Canada decreased their price objective on PTC Therapeutics from $87.00 to $82.00 and set a “sector perform” rating for the company in a research report on Friday, February 20th. Bank of America lowered their target price on PTC Therapeutics from $97.00 to $93.00 and set a “buy” rating for the company in a research note on Friday, February 20th. Finally, TD Cowen restated a “hold” rating on shares of PTC Therapeutics in a report on Thursday, January 29th. Ten equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $82.79.

Insider Buying and Selling

In other PTC Therapeutics news, CEO Matthew B. Klein sold 8,089 shares of the firm’s stock in a transaction that occurred on Tuesday, December 30th. The stock was sold at an average price of $76.64, for a total value of $619,940.96. Following the completion of the transaction, the chief executive officer directly owned 341,875 shares in the company, valued at $26,201,300. This trade represents a 2.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Eric Pauwels sold 40,290 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $75.43, for a total value of $3,039,074.70. Following the transaction, the insider directly owned 70,373 shares in the company, valued at $5,308,235.39. This trade represents a 36.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 163,604 shares of company stock valued at $12,289,056. 5.50% of the stock is currently owned by company insiders.

PTC Therapeutics Trading Down 0.8%

Shares of PTCT stock opened at $62.82 on Monday. The firm’s fifty day moving average price is $72.77 and its two-hundred day moving average price is $69.45. PTC Therapeutics, Inc. has a 1 year low of $35.95 and a 1 year high of $87.50. The firm has a market capitalization of $5.20 billion, a P/E ratio of 8.12 and a beta of 0.51.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($1.67) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($1.46). The company had revenue of $164.68 million during the quarter, compared to the consensus estimate of $281.45 million. PTC Therapeutics had a net margin of 39.44% and a negative return on equity of 362.45%. PTC Therapeutics’s revenue was down 22.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.85) EPS. As a group, equities research analysts forecast that PTC Therapeutics, Inc. will post -4.52 EPS for the current fiscal 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.