Jefferies Financial Group Inc. Purchases 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 second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 1,357,042 shares of the biopharmaceutical company’s stock, valued at approximately $110,694,000. PTC Therapeutics comprises about 0.7% of Jefferies Financial Group Inc.’s holdings, making the stock its 11th largest position. Jefferies Financial Group Inc. owned approximately 1.63% of PTC Therapeutics as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. UMB Bank n.a. acquired a new stake in PTC Therapeutics during the fourth quarter worth about $26,000. Comerica Bank raised its holdings in shares of PTC Therapeutics by 868.5% in the 3rd quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 469 shares during the period. IFP Advisors Inc lifted its stake in shares of PTC Therapeutics by 68.1% in the 3rd quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 310 shares in the last quarter. Allworth Financial LP lifted its stake in shares of PTC Therapeutics by 63.8% in the 4th quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company’s stock valued at $48,000 after purchasing an additional 247 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of PTC Therapeutics by 247.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,143 shares of the biopharmaceutical company’s stock worth $56,000 after purchasing an additional 814 shares during the period.

PTC Therapeutics Stock Performance

PTCT stock opened at $71.81 on Friday. The firm has a market cap of $5.99 billion, a P/E ratio of -123.81, a price-to-earnings-growth ratio of 2.24 and a beta of 0.56. PTC Therapeutics, Inc. has a 1 year low of $48.96 and a 1 year high of $90.87. The stock has a 50-day simple moving average of $77.25 and a 200-day simple moving average of $72.29.

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

Analysts Set New Price Targets

PTCT has been the subject of a number of research analyst reports. TD Cowen raised shares of PTC Therapeutics from a “hold” rating to a “buy” rating and increased their target price for the stock from $75.00 to $90.00 in a research report on Friday, May 8th. Jefferies Financial Group raised shares of PTC Therapeutics from a “hold” rating to a “buy” rating and lifted their price target for the company from $76.00 to $85.00 in a research report on Wednesday, May 27th. Barclays boosted their price objective on shares of PTC Therapeutics from $120.00 to $122.00 and gave the stock an “overweight” rating in a research note on Friday, August 14th. Morgan Stanley increased their price objective on shares of PTC Therapeutics from $93.00 to $104.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Finally, Citigroup raised shares of PTC Therapeutics from a “neutral” rating to a “buy” rating and raised their target price for the company from $75.00 to $108.00 in a research note on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $98.55.

Insider Activity at PTC Therapeutics

In related news, CEO Matthew B. Klein sold 10,292 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer directly owned 383,868 shares of the company’s stock, valued at approximately $26,321,828.76. This trade represents a 2.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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. Also, Director Mary L. Smith sold 15,834 shares of PTC Therapeutics stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $90.00, for a total transaction of $1,425,060.00. Following the sale, the director directly owned 21,813 shares in the company, valued at $1,963,170. This trade represents a 42.06% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 205,343 shares of company stock valued at $16,774,704. 5.30% of the stock is currently owned by corporate 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.