PTC Therapeutics, Inc. $PTCT Shares Bought by Legal & General Group Plc

Legal & General Group Plc grew its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 15.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 222,837 shares of the biopharmaceutical company’s stock after acquiring an additional 29,993 shares during the period. Legal & General Group Plc’s holdings in PTC Therapeutics were worth $10,883,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Quantbot Technologies LP increased its holdings in PTC Therapeutics by 545.5% in the 1st quarter. Quantbot Technologies LP now owns 652 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 551 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of PTC Therapeutics by 84.2% in the first quarter. PNC Financial Services Group Inc. now owns 700 shares of the biopharmaceutical company’s stock worth $36,000 after buying an additional 320 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of PTC Therapeutics in the first quarter valued at about $61,000. AlphaQuest LLC raised its holdings in shares of PTC Therapeutics by 67.0% during the 1st quarter. AlphaQuest LLC now owns 1,807 shares of the biopharmaceutical company’s stock valued at $92,000 after buying an additional 725 shares during the period. Finally, Plato Investment Management Ltd purchased a new stake in shares of PTC Therapeutics during the 2nd quarter valued at about $92,000.

PTC Therapeutics Price Performance

NASDAQ PTCT opened at $85.99 on Monday. The company’s fifty day moving average price is $69.40 and its two-hundred day moving average price is $57.07. The company has a market capitalization of $6.90 billion, a price-to-earnings ratio of 12.34 and a beta of 0.60. PTC Therapeutics, Inc. has a 12 month low of $35.95 and a 12 month high of $87.50.

PTC Therapeutics (NASDAQ:PTCT) last issued its earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.19) by $1.39. The business had revenue of $211.01 million for the quarter, compared to analyst estimates of $177.42 million. PTC Therapeutics had a net margin of 35.65% and a negative return on equity of 106.31%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the business posted ($1.39) EPS. PTC Therapeutics has set its FY 2025 guidance at EPS. As a group, analysts anticipate that PTC Therapeutics, Inc. will post -4.52 EPS for the current year.

Insider Transactions at PTC Therapeutics

In other news, VP Mark Elliott Boulding sold 24,585 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $61.34, for a total value of $1,508,043.90. Following the completion of the sale, the vice president directly owned 103,901 shares in the company, valued at approximately $6,373,287.34. The trade was a 19.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Emma Reeve sold 25,562 shares of the company’s stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $65.96, for a total value of $1,686,069.52. Following the sale, the director directly owned 10,332 shares in the company, valued at approximately $681,498.72. This represents a 71.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 404,973 shares of company stock worth $28,374,507 in the last quarter. Insiders own 5.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PTCT shares. Robert W. Baird set a $70.00 price target on PTC Therapeutics in a report on Friday, August 8th. Cowen restated a “hold” rating on shares of PTC Therapeutics in a research note on Wednesday, November 5th. Barclays raised their price target on shares of PTC Therapeutics from $46.00 to $68.00 and gave the company an “equal weight” rating in a report on Wednesday, November 5th. Royal Bank Of Canada boosted their price objective on shares of PTC Therapeutics from $70.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, November 5th. Finally, TD Cowen upped their price objective on shares of PTC Therapeutics from $50.00 to $63.00 and gave the company a “hold” rating in a research report on Wednesday, November 5th. Ten equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $75.40.

PTC Therapeutics Profile

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders in the United States and internationally. The company offers Translarna and Emflaza for the treatment of Duchenne muscular dystrophy; Upstaza to treat aromatic l-amino acid decarboxylas (AADC) deficiency, a central nervous system disorder; Tegsedi and Waylivra for the treatment of rare diseases; and Evrysdi to treat spinal muscular atrophy (SMA) in adults and children.