Sigma Planning Corp Takes $760,000 Position in PTC Therapeutics, Inc. $PTCT

Sigma Planning Corp bought a new stake in PTC Therapeutics, Inc. (NASDAQ:PTCT) during the 4th quarter, HoldingsChannel reports. The firm bought 10,010 shares of the biopharmaceutical company’s stock, valued at approximately $760,000.

Several other institutional investors have also modified their holdings of PTCT. Smartleaf Asset Management LLC grew its position in shares of PTC Therapeutics by 101.3% in the third 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 during the period. Optiver Holding B.V. grew its position in shares of PTC Therapeutics by 96.5% in the third 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 period. Comerica Bank grew its position in shares of 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 purchasing an additional 469 shares during the period. Salomon & Ludwin LLC acquired a new stake in shares of PTC Therapeutics in the fourth quarter valued at about $41,000. Finally, IFP Advisors Inc grew its position in shares of PTC Therapeutics by 68.1% in the third quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 310 shares during the period.

Insiders Place Their Bets

In other news, EVP Lee Scott Golden sold 829 shares of the stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $67.99, for a total value of $56,363.71. Following the completion of the sale, the executive vice president owned 79,115 shares of the company’s stock, valued at $5,379,028.85. This represents a 1.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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, insider Neil Gregory Almstead sold 52,003 shares of the stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $69.04, for a total transaction of $3,590,287.12. Following the completion of the sale, the insider directly owned 60,137 shares of the company’s stock, valued at approximately $4,151,858.48. This trade represents a 46.37% 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 90 days, insiders have sold 126,492 shares of company stock worth $8,634,621. 5.50% of the stock is currently owned by company insiders.

PTC Therapeutics Price Performance

Shares of PTC Therapeutics stock opened at $65.04 on Wednesday. The stock has a market cap of $5.39 billion, a P/E ratio of 8.40 and a beta of 0.53. The stock’s 50 day simple moving average is $67.86 and its 200-day simple moving average is $72.09. PTC Therapeutics, Inc. has a 1-year low of $35.95 and a 1-year high of $87.50.

PTC Therapeutics (NASDAQ:PTCT) last issued its earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.67) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($1.46). The company had revenue of $164.68 million for 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%.The company’s revenue for the quarter was down 22.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.85) earnings per share. As a group, research analysts expect that PTC Therapeutics, Inc. will post -0.74 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on PTCT shares. Jefferies Financial Group lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating and dropped their target price for the company from $91.00 to $76.00 in a research report on Monday, March 30th. Wall Street Zen downgraded shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. Royal Bank Of Canada lowered their target price on PTC Therapeutics from $87.00 to $82.00 and set a “sector perform” rating on the stock in a report on Friday, February 20th. Wells Fargo & Company lowered their target price on PTC Therapeutics from $93.00 to $86.00 and set an “overweight” rating on the stock in a report on Friday, February 20th. Finally, TD Cowen restated a “hold” rating on shares of PTC Therapeutics in a report on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $84.40.

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.