Jupiter Topco LLC Makes New Investment in PTC Therapeutics, Inc. $PTCT

Key Points

• Jupiter Topco LLC acquired 7.24 million shares of PTC Therapeutics worth approximately $590.2 million, giving it an 8.67% stake in the biopharmaceutical company.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $98.55. Recent firms, including Jefferies, Cantor Fitzgerald, and RBC, raised their price targets.
• PTC Therapeutics reported stronger-than-expected quarterly results, posting $0.92 EPS versus the $0.24 estimate and revenue of $360.5 million, up 101.5% year over year; however, insiders sold more than 205,000 shares in the past quarter.

Jupiter Topco LLC acquired a new stake in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 7,236,402 shares of the biopharmaceutical company's stock, valued at approximately $590,182,000. Jupiter Topco LLC owned approximately 8.67% of PTC Therapeutics as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of PTCT. UMB Bank n.a. bought a new stake in PTC Therapeutics during the fourth quarter valued at about $26,000. Comerica Bank boosted its stake in PTC Therapeutics by 868.5% in the third quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company's stock valued at $32,000 after acquiring an additional 469 shares in the last quarter. Allworth Financial LP grew its holdings in PTC Therapeutics by 63.8% in the fourth 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 last quarter. IFP Advisors Inc increased its position in shares of 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 purchasing an additional 310 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its position in PTC Therapeutics by 96.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 921 shares of the biopharmaceutical company's stock valued at $70,000 after buying an additional 452 shares in the last quarter.

Insider Buying and Selling at PTC Therapeutics

In related news, Director Mary L. Smith sold 15,834 shares of PTC Therapeutics stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $90.00, for a total value of $1,425,060.00. Following the sale, the director owned 21,813 shares of the company's stock, valued at approximately $1,963,170. This trade represents a 42.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Schmertzler sold 12,500 shares of the business's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $73.32, for a total transaction of $916,500.00. Following the completion of the sale, the director directly owned 1,374,094 shares of the company's stock, valued at approximately $100,748,572.08. The trade was a 0.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 205,343 shares of company stock worth $16,774,704. 5.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PTCT. Wall Street Zen cut shares of PTC Therapeutics from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Jefferies Financial Group raised shares of PTC Therapeutics from a "hold" rating to a "buy" rating and raised their price target for the stock from $76.00 to $85.00 in a report on Wednesday, May 27th. Cantor Fitzgerald lifted their price objective on shares of PTC Therapeutics from $124.00 to $130.00 and gave the stock an "overweight" rating in a research note on Thursday, July 16th. Weiss Ratings lowered PTC Therapeutics from a "sell (d+)" rating to a "sell (d)" rating in a research note on Monday, August 17th. Finally, Royal Bank Of Canada boosted their price target on PTC Therapeutics from $82.00 to $85.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $98.55.

PTC Therapeutics Stock Up 3.4%

Shares of PTC Therapeutics stock opened at $73.47 on Wednesday. PTC Therapeutics, Inc. has a twelve month low of $48.28 and a twelve month high of $90.87. The business has a 50-day moving average price of $77.51 and a 200 day moving average price of $72.31. The firm has a market cap of $6.13 billion, a PE ratio of -126.67, a P/E/G ratio of 2.19 and a beta of 0.56.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued 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 return on equity of 362.45% and a negative net margin of 3.80%.The company had revenue of $360.52 million for the quarter, compared to the consensus estimate of $298.63 million. During the same quarter in the prior year, the business posted ($0.83) earnings per share. PTC Therapeutics's revenue for the quarter was up 101.5% on a year-over-year basis. On average, sell-side analysts expect that PTC Therapeutics, Inc. will post 1.17 EPS for the current 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.

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