200,000 Shares in PTC Therapeutics, Inc. $PTCT Bought by Boxer Capital Management LLC

Boxer Capital Management LLC acquired a new stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 200,000 shares of the biopharmaceutical company’s stock, valued at approximately $12,274,000. PTC Therapeutics comprises 3.9% of Boxer Capital Management LLC’s portfolio, making the stock its 6th biggest holding.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Smartleaf Asset Management LLC grew its stake in shares of PTC Therapeutics by 101.3% during the 3rd quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 236 shares during the period. Optiver Holding B.V. lifted its stake in shares of 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 during the period. Comerica Bank boosted its holdings in shares of PTC Therapeutics by 868.5% in the third quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 469 shares during the last quarter. PNC Financial Services Group Inc. grew its position in PTC Therapeutics by 42.1% during the second quarter. PNC Financial Services Group Inc. now owns 995 shares of the biopharmaceutical company’s stock valued at $49,000 after buying an additional 295 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in PTC Therapeutics by 247.4% during 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 period.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of PTC Therapeutics in a research report on Monday, December 29th. Wells Fargo & Company decreased their target price on PTC Therapeutics from $93.00 to $86.00 and set an “overweight” rating on the stock in a report on Friday, February 20th. Barclays reiterated an “overweight” rating and set a $120.00 target price on shares of PTC Therapeutics in a research report on Monday, February 23rd. Cantor Fitzgerald reissued an “overweight” rating on shares of PTC Therapeutics in a report on Friday, February 20th. Finally, Bank of America decreased their price objective on PTC Therapeutics from $97.00 to $93.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. 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 stock. According to MarketBeat.com, PTC Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $82.79.

Insider Activity at PTC Therapeutics

In related news, EVP Lee Scott Golden sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $63.38, for a total value of $633,800.00. Following the transaction, the executive vice president directly owned 79,944 shares of the company’s stock, valued at approximately $5,066,850.72. The trade was a 11.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Mark Elliott Boulding sold 3,019 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $69.48, for a total value of $209,760.12. Following the completion of the transaction, the vice president owned 105,212 shares of the company’s stock, valued at $7,310,129.76. The trade was a 2.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 201,755 shares of company stock worth $14,809,336 in the last three months. Corporate insiders own 5.50% of the company’s stock.

PTC Therapeutics Stock Performance

Shares of PTCT stock opened at $64.49 on Friday. PTC Therapeutics, Inc. has a 52-week low of $35.95 and a 52-week high of $87.50. The firm has a market capitalization of $5.34 billion, a PE ratio of 8.33 and a beta of 0.51. The stock has a fifty day simple moving average of $71.73 and a two-hundred day simple moving average of $69.89.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($1.67) EPS for the quarter, missing the consensus estimate of ($0.21) by ($1.46). The business had revenue of $164.68 million during the quarter, compared to analysts’ expectations 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 firm earned ($0.85) earnings per share. On average, sell-side analysts forecast that PTC Therapeutics, Inc. will post -4.52 EPS for the current fiscal year.

PTC Therapeutics Company 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.