Horizon Investments LLC Takes $3.06 Million Position in PTC Therapeutics, Inc. $PTCT

Key Points

• Horizon Investments LLC acquired 40,333 shares of PTC Therapeutics in Q4, a position worth about $3.06 million (~0.05% of the company).
• PTC reported a sharp quarterly miss with ($1.67) EPS versus a ($0.21) consensus and revenue of $164.7M (down 22.7% YoY), and analysts project -$0.74 EPS for the year.
• Several large institutions boosted holdings (notably SG Americas, Vanguard, State Street, UBS and a new Jefferies stake), and the stock carries a consensus “Moderate Buy” rating with an average price target of $84.40.

Horizon Investments LLC acquired a new stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 40,333 shares of the biopharmaceutical company's stock, valued at approximately $3,064,000. Horizon Investments LLC owned 0.05% of PTC Therapeutics at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of PTCT. Jefferies Financial Group Inc. bought a new stake in shares of PTC Therapeutics during the third quarter valued at approximately $97,252,000. SG Americas Securities LLC increased its position in shares of PTC Therapeutics by 587.5% during the fourth quarter. SG Americas Securities LLC now owns 894,461 shares of the biopharmaceutical company's stock valued at $67,943,000 after purchasing an additional 764,364 shares during the period. State Street Corp increased its position in shares of PTC Therapeutics by 22.1% during the second quarter. State Street Corp now owns 2,996,454 shares of the biopharmaceutical company's stock valued at $146,347,000 after purchasing an additional 541,558 shares during the period. Vanguard Group Inc. increased its position in shares of PTC Therapeutics by 6.2% during the fourth quarter. Vanguard Group Inc. now owns 8,803,203 shares of the biopharmaceutical company's stock valued at $668,691,000 after purchasing an additional 514,204 shares during the period. Finally, UBS Group AG increased its position in shares of PTC Therapeutics by 113.3% during the fourth quarter. UBS Group AG now owns 964,658 shares of the biopharmaceutical company's stock valued at $73,275,000 after purchasing an additional 512,449 shares during the period.

PTC Therapeutics Price Performance

Shares of PTCT stock opened at $65.49 on Tuesday. The stock's fifty day simple moving average is $67.97 and its 200 day simple moving average is $72.11. The firm has a market cap of $5.43 billion, a price-to-earnings ratio of 8.46 and a beta of 0.53. PTC Therapeutics, Inc. has a one year low of $35.95 and a one year high of $87.50.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last posted its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($1.67) EPS for the quarter, missing analysts' consensus estimates of ($0.21) by ($1.46). The business 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% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.85) EPS. On average, research analysts anticipate that PTC Therapeutics, Inc. will post -0.74 earnings per share for the current year.

Wall Street Analyst Weigh In

PTCT has been the topic of several recent analyst reports. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of PTC Therapeutics in a research note on Friday, February 20th. Barclays reaffirmed an "overweight" rating and issued a $120.00 price target on shares of PTC Therapeutics in a research note on Monday, February 23rd. Morgan Stanley boosted their price target on PTC Therapeutics from $90.00 to $92.00 and gave the company an "overweight" rating in a research note on Monday, February 23rd. TD Cowen reaffirmed a "hold" rating on shares of PTC Therapeutics in a research note on Thursday, January 29th. Finally, Truist Financial raised PTC Therapeutics to a "strong-buy" rating in a research note on Wednesday, March 25th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $84.40.

Insider Buying and Selling

In other PTC Therapeutics news, VP Mark Elliott Boulding sold 3,081 shares of the business's stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $69.36, for a total value of $213,698.16. Following the transaction, the vice president owned 108,231 shares of the company's stock, valued at approximately $7,506,902.16. The trade was a 2.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephanie Okey sold 15,167 shares of the business's stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $70.00, for a total value of $1,061,690.00. Following the completion of the transaction, the director directly owned 8,000 shares in the company, valued at approximately $560,000. This represents a 65.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 126,492 shares of company stock valued at $8,634,621. Insiders own 5.50% of the company's stock.

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.

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