Deutsche Bank AG Makes New Investment in PTC Therapeutics, Inc. $PTCT

Key Points

• Deutsche Bank acquired 296,899 shares of PTC Therapeutics in the second quarter, worth approximately $24.2 million and representing about 0.36% of the company.
• PTC Therapeutics reported quarterly EPS of $0.92, beating estimates of $0.24, while revenue rose 101.5% year over year to $360.52 million. Despite the strong results, the company recorded a negative net margin of 3.80%.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $98.55 price target versus the stock’s reported $69.82 opening price. Insiders sold approximately $16.8 million of shares over the past 90 days, largely through pre-arranged trading plans.

Deutsche Bank AG bought a new stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 296,899 shares of the biopharmaceutical company's stock, valued at approximately $24,218,000. Deutsche Bank AG owned about 0.36% of PTC Therapeutics as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. UMB Bank n.a. purchased a new position in PTC Therapeutics during the fourth quarter worth about $26,000. Comerica Bank lifted its holdings in PTC Therapeutics by 868.5% during the third quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company's stock worth $32,000 after acquiring an additional 469 shares during the period. Salomon & Ludwin LLC purchased a new stake in shares of PTC Therapeutics during the 4th quarter valued at $41,000. Allworth Financial LP raised its stake in shares of PTC Therapeutics by 63.8% during the 4th quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company's stock worth $48,000 after purchasing an additional 247 shares during the period. Finally, IFP Advisors Inc increased its holdings in PTC Therapeutics by 68.1% during the third quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company's stock worth $47,000 after buying an additional 310 shares during the last quarter.

PTC Therapeutics Stock Performance

Shares of PTC Therapeutics stock opened at $69.82 on Friday. PTC Therapeutics, Inc. has a 52-week low of $48.28 and a 52-week high of $90.87. The company's 50 day moving average price is $77.62 and its 200-day moving average price is $72.35. The stock has a market capitalization of $5.83 billion, a price-to-earnings ratio of -120.38, a P/E/G ratio of 2.18 and a beta of 0.56.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) 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 net margin of 3.80% and a negative return on equity of 362.45%. The business had revenue of $360.52 million for the quarter, compared to analyst estimates of $298.63 million. During the same quarter last year, the firm earned ($0.83) EPS. The company's revenue was up 101.5% on a year-over-year basis. As a group, equities research analysts forecast that PTC Therapeutics, Inc. will post 1.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Mark Elliott Boulding sold 2,813 shares of the business's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $72.57, for a total transaction of $204,139.41. Following the transaction, the vice president owned 105,272 shares in the company, valued at $7,639,589.04. The trade was a 2.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Schmertzler sold 12,500 shares of the company's stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $73.32, for a total value of $916,500.00. Following the transaction, the director directly owned 1,374,094 shares of the company's stock, valued at $100,748,572.08. The trade was a 0.90% 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. Insiders sold 205,343 shares of company stock valued at $16,774,704 over the last ninety days. Corporate insiders own 5.30% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented 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. Jefferies Financial Group upgraded shares of PTC Therapeutics from a "hold" rating to a "buy" rating and lifted their target price for the stock from $76.00 to $85.00 in a research note on Wednesday, May 27th. Wall Street Zen lowered shares of PTC Therapeutics from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Barclays increased their price objective on PTC Therapeutics from $120.00 to $122.00 and gave the stock an "overweight" rating in a report on Friday, August 14th. Finally, Weiss Ratings lowered shares of PTC Therapeutics from a "sell (d+)" rating to a "sell (d)" rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $98.55.

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.

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