Landscape Capital Management L.L.C. Makes New Investment in PTC Therapeutics, Inc. $PTCT

Landscape Capital Management L.L.C. purchased a new stake in PTC Therapeutics, Inc. (NASDAQ:PTCT) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 14,958 shares of the biopharmaceutical company’s stock, valued at approximately $1,220,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Ieq Capital LLC purchased a new position in shares of PTC Therapeutics during the 2nd quarter worth about $1,600,000. Allworth Financial LP purchased a new stake in PTC Therapeutics in the second quarter valued at approximately $67,000. Virtus Advisers LLC purchased a new stake in PTC Therapeutics in the second quarter valued at approximately $420,000. Vise Technologies Inc. acquired a new position in PTC Therapeutics during the second quarter worth approximately $698,000. Finally, E Fund Management Co. Ltd. acquired a new position in PTC Therapeutics during the second quarter worth approximately $458,000.

Insiders Place Their Bets

In related news, VP Mark Elliott Boulding sold 2,813 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $72.57, for a total value of $204,139.41. Following the sale, the vice president directly owned 105,272 shares of the company’s stock, valued at $7,639,589.04. This represents a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew B. Klein sold 10,292 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $68.57, for a total transaction of $705,722.44. Following the completion of the sale, the chief executive officer owned 383,868 shares in the company, valued at approximately $26,321,828.76. This trade represents a 2.61% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 205,343 shares of company stock valued at $16,774,704. 5.30% of the stock is owned by insiders.

PTC Therapeutics Price Performance

Shares of NASDAQ:PTCT opened at $69.82 on Monday. The company has a 50 day moving average of $77.62 and a two-hundred day moving average of $72.34. The company has a market capitalization of $5.83 billion, a price-to-earnings ratio of -120.38, a price-to-earnings-growth ratio of 2.15 and a beta of 0.56. PTC Therapeutics, Inc. has a 52-week low of $48.28 and a 52-week high of $90.87.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.68. PTC Therapeutics had a negative net margin of 3.80% and a negative return on equity of 362.45%. The company had revenue of $360.52 million during the quarter, compared to analysts’ expectations of $298.63 million. During the same period in the prior year, the company posted ($0.83) EPS. The firm’s revenue for the quarter was up 101.5% on a year-over-year basis. On average, equities analysts anticipate that PTC Therapeutics, Inc. will post 1.17 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on PTCT shares. TD Cowen upgraded shares of PTC Therapeutics from a “hold” rating to a “buy” rating and lifted their price target for the company from $75.00 to $90.00 in a report on Friday, May 8th. Barclays upped their price objective on PTC Therapeutics from $120.00 to $122.00 and gave the stock an “overweight” rating in a report on Friday, August 14th. Morgan Stanley lifted their target price on PTC Therapeutics from $93.00 to $104.00 and gave the company an “overweight” rating in a report on Friday, July 31st. 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 report on Tuesday, July 7th. Finally, Zacks Research downgraded PTC Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $98.55.

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.