LGL Partners LLC Has $684,000 Holdings in PTC Therapeutics, Inc. $PTCT

LGL Partners LLC cut its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 47.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 9,000 shares of the biopharmaceutical company’s stock after selling 8,067 shares during the quarter. PTC Therapeutics accounts for 0.3% of LGL Partners LLC’s investment portfolio, making the stock its 28th biggest holding. LGL Partners LLC’s holdings in PTC Therapeutics were worth $684,000 as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Wall Street Zen lowered PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, February 21st. Raymond James Financial initiated coverage on PTC Therapeutics in a research report on Friday, April 10th. They set an “outperform” rating and a $108.00 target price on the stock. Jefferies Financial Group lowered PTC Therapeutics from a “buy” rating to a “hold” rating and lowered their target price for the stock from $91.00 to $76.00 in a research report on Monday, March 30th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of PTC Therapeutics in a research report on Friday, February 20th. Finally, Bank of America lowered their target price on PTC Therapeutics from $97.00 to $93.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, PTC Therapeutics has an average rating of “Moderate Buy” and an average price target of $88.36.

Insiders Place Their Bets

In related news, EVP Lee Scott Golden sold 829 shares of the stock in a transaction on Thursday, April 2nd. The stock was 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 directly owned 79,115 shares of the company’s stock, valued at approximately $5,379,028.85. This represents a 1.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 Stephanie Okey sold 15,167 shares of the stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $70.00, for a total value of $1,061,690.00. Following the completion of the sale, the director directly owned 8,000 shares of the company’s stock, valued at $560,000. The trade was a 65.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 115,022 shares of company stock worth $7,925,979 in the last three months. 5.50% of the stock is owned by corporate insiders.

PTC Therapeutics Price Performance

Shares of NASDAQ:PTCT opened at $68.81 on Tuesday. PTC Therapeutics, Inc. has a twelve month low of $43.17 and a twelve month high of $87.50. The stock’s 50 day moving average is $69.10 and its 200-day moving average is $72.45. The firm has a market capitalization of $5.71 billion, a price-to-earnings ratio of -29.53, a PEG ratio of 12.83 and a beta of 0.53.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.42. The business had revenue of $272.55 million during the quarter, compared to analyst estimates of $217.42 million. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 22.58%.PTC Therapeutics’s quarterly revenue was up 43.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $10.04 EPS. Equities research analysts anticipate that PTC Therapeutics, Inc. will post 0.19 earnings per share for the current fiscal year.

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.