SG Americas Securities LLC Has $67.94 Million Stock Holdings in PTC Therapeutics, Inc. $PTCT

SG Americas Securities LLC boosted its position in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 587.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 894,461 shares of the biopharmaceutical company’s stock after acquiring an additional 764,364 shares during the quarter. SG Americas Securities LLC’s holdings in PTC Therapeutics were worth $67,943,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Ameritas Investment Partners Inc. lifted its stake in PTC Therapeutics by 3.0% during the second quarter. Ameritas Investment Partners Inc. now owns 7,936 shares of the biopharmaceutical company’s stock worth $388,000 after purchasing an additional 231 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of PTC Therapeutics by 101.3% in 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 in the last quarter. Optiver Holding B.V. increased 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 valued at $31,000 after purchasing an additional 249 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of PTC Therapeutics by 42.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 995 shares of the biopharmaceutical company’s stock valued at $49,000 after purchasing an additional 295 shares during the last quarter. Finally, IFP Advisors Inc raised its holdings in shares of PTC Therapeutics by 68.1% during the 3rd quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock worth $47,000 after buying an additional 310 shares in the last quarter.

Analysts Set New Price Targets

Several brokerages recently weighed in on PTCT. Bank of America dropped their price objective on PTC Therapeutics from $97.00 to $93.00 and set a “buy” rating for the company in a research report on Friday, February 20th. Morgan Stanley lifted their target price on PTC Therapeutics from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, February 23rd. Barclays reissued an “overweight” rating and set a $120.00 target price on shares of PTC Therapeutics in a research note on Monday, February 23rd. Wells Fargo & Company reduced their price target on shares of PTC Therapeutics from $93.00 to $86.00 and set an “overweight” rating on the stock in a research note on Friday, February 20th. Finally, Royal Bank Of Canada decreased their price target on shares of PTC Therapeutics from $87.00 to $82.00 and set a “sector perform” rating on the stock in a report on Friday, February 20th. Ten research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, PTC Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $82.79.

Insider Activity at PTC Therapeutics

In other news, 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. This represents a 2.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Neil Gregory Almstead sold 3,989 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $63.38, for a total transaction of $252,822.82. Following the completion of the transaction, the insider owned 2,737 shares of the company’s stock, valued at approximately $173,471.06. This trade represents a 59.31% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 137,755 shares of company stock valued at $9,945,471. Corporate insiders own 5.50% of the company’s stock.

PTC Therapeutics Stock Down 2.8%

NASDAQ PTCT opened at $64.54 on Wednesday. The company has a market cap of $5.34 billion, a price-to-earnings ratio of 8.34 and a beta of 0.51. PTC Therapeutics, Inc. has a twelve month low of $35.95 and a twelve month high of $87.50. The business’s fifty day moving average is $70.26 and its 200 day moving average is $70.69.

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

About PTC Therapeutics

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.