Jefferies Financial Group Inc. Acquires Shares of 1,357,042 PTC Therapeutics, Inc. $PTCT

Jefferies Financial Group Inc. acquired a new position in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 1,357,042 shares of the biopharmaceutical company’s stock, valued at approximately $110,694,000. PTC Therapeutics comprises approximately 0.7% of Jefferies Financial Group Inc.’s investment portfolio, making the stock its 11th biggest position.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Empowered Funds LLC bought a new stake in shares of PTC Therapeutics in the 1st quarter worth about $1,999,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position 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 purchasing an additional 18,504 shares during the last quarter. Quantbot Technologies LP grew its stake in PTC Therapeutics by 280.1% in the second quarter. Quantbot Technologies LP now owns 2,478 shares of the biopharmaceutical company’s stock worth $121,000 after purchasing an additional 1,826 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in PTC Therapeutics in the second quarter worth about $1,661,000. Finally, EverSource Wealth Advisors LLC increased its holdings in PTC Therapeutics by 247.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,143 shares of the biopharmaceutical company’s stock valued at $56,000 after buying an additional 814 shares during the last quarter.

PTC Therapeutics Price Performance

PTCT opened at $71.81 on Friday. The stock’s 50 day moving average price is $77.25 and its 200 day moving average price is $72.29. The stock has a market cap of $5.99 billion, a P/E ratio of -123.81, a P/E/G ratio of 2.24 and a beta of 0.56. PTC Therapeutics, Inc. has a 12 month low of $48.96 and a 12 month high of $90.87.

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

Analysts Set New Price Targets

Several brokerages have issued reports on PTCT. Cantor Fitzgerald upped their price objective on PTC Therapeutics from $124.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Citigroup upgraded PTC Therapeutics from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $75.00 to $108.00 in a research report on Tuesday, June 9th. Royal Bank Of Canada boosted their price target on PTC Therapeutics from $82.00 to $85.00 and gave the company a “sector perform” rating in a report on Tuesday, July 7th. TD Cowen raised PTC Therapeutics from a “hold” rating to a “buy” rating and upped their price target for the company from $75.00 to $90.00 in a research report on Friday, May 8th. Finally, Zacks Research cut PTC Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 6th. One investment 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 issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $98.55.

Insider Buying and Selling at PTC Therapeutics

In related news, Director Michael Schmertzler sold 12,500 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $73.32, for a total value of $916,500.00. Following the completion of the sale, the director owned 1,374,094 shares of the company’s stock, valued at $100,748,572.08. This represents a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew B. Klein sold 10,292 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $68.57, for a total transaction of $705,722.44. Following the completion of the transaction, the chief executive officer owned 383,868 shares of the company’s stock, valued at $26,321,828.76. This represents a 2.61% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 205,343 shares of company stock valued at $16,774,704. 5.30% of the stock is currently owned by insiders.

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.