Janus Henderson Group PLC Has $490 Million Position in PTC Therapeutics, Inc. $PTCT

Janus Henderson Group PLC raised its holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 48.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,193,433 shares of the biopharmaceutical company’s stock after buying an additional 2,342,101 shares during the quarter. Janus Henderson Group PLC owned 0.09% of PTC Therapeutics worth $489,997,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in PTCT. Vanguard Group Inc. lifted its holdings in shares of PTC Therapeutics by 6.2% during the 4th quarter. Vanguard Group Inc. now owns 8,803,203 shares of the biopharmaceutical company’s stock worth $668,691,000 after acquiring an additional 514,204 shares during the period. Wellington Management Group LLP increased its stake in PTC Therapeutics by 4.8% in the third quarter. Wellington Management Group LLP now owns 4,918,619 shares of the biopharmaceutical company’s stock valued at $301,856,000 after acquiring an additional 224,481 shares during the period. State Street Corp increased its stake in PTC Therapeutics by 34.2% in the fourth quarter. State Street Corp now owns 4,206,126 shares of the biopharmaceutical company’s stock valued at $319,497,000 after acquiring an additional 1,071,343 shares during the period. Toronto Dominion Bank raised its position in PTC Therapeutics by 27.5% in the fourth quarter. Toronto Dominion Bank now owns 4,138,215 shares of the biopharmaceutical company’s stock worth $314,339,000 after purchasing an additional 891,690 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in PTC Therapeutics by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 2,016,062 shares of the biopharmaceutical company’s stock worth $153,164,000 after purchasing an additional 65,184 shares in the last quarter.

PTC Therapeutics Price Performance

PTCT stock opened at $74.49 on Thursday. The business has a fifty day moving average price of $77.47 and a 200 day moving average price of $72.79. PTC Therapeutics, Inc. has a fifty-two week low of $43.17 and a fifty-two week high of $90.87. The stock has a market capitalization of $6.18 billion, a price-to-earnings ratio of -31.97, a P/E/G ratio of 6.56 and a beta of 0.53.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.42. The firm had revenue of $272.55 million during the quarter, compared to the consensus estimate of $217.42 million. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 22.58%.The business’s revenue for the quarter was up 43.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $10.04 EPS. On average, equities analysts expect that PTC Therapeutics, Inc. will post 0.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PTCT. Wells Fargo & Company decreased their price objective on PTC Therapeutics from $95.00 to $93.00 and set an “overweight” rating on the stock in a report on Monday, July 20th. Raymond James Financial initiated coverage on PTC Therapeutics in a report on Friday, April 10th. They issued an “outperform” rating and a $108.00 target price for the company. Morgan Stanley restated an “overweight” rating and set a $94.00 target price on shares of PTC Therapeutics in a research report on Friday, May 8th. 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. Finally, Jefferies Financial Group upgraded PTC Therapeutics from a “hold” rating to a “buy” rating and upped their price target for the company from $76.00 to $85.00 in a research report on Wednesday, May 27th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, PTC Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $93.83.

Insiders Place Their Bets

In other PTC Therapeutics news, CAO Christine Marie Utter sold 19,686 shares of the stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $75.56, for a total transaction of $1,487,474.16. Following the sale, the chief accounting officer owned 70,199 shares of the company’s stock, valued at $5,304,236.44. This represents a 21.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew B. Klein sold 12,572 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $72.95, for a total transaction of $917,127.40. Following the completion of the sale, the chief executive officer owned 393,998 shares of the company’s stock, valued at $28,742,154.10. The trade was a 3.09% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders sold a total of 198,662 shares of company stock valued at $16,347,994 over the last three months. Company 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.