PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Sells $764,800.00 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Jerome B. Zeldis sold 20,000 shares of PTC Therapeutics stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $38.24, for a total transaction of $764,800.00. Following the completion of the sale, the director now directly owns 14,500 shares of the company’s stock, valued at approximately $554,480. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

PTC Therapeutics Price Performance

PTC Therapeutics stock traded up $0.07 during trading hours on Friday, hitting $37.20. The company had a trading volume of 540,526 shares, compared to its average volume of 969,043. PTC Therapeutics, Inc. has a one year low of $17.53 and a one year high of $46.76. The firm has a market cap of $2.85 billion, a PE ratio of -4.95 and a beta of 0.63. The firm has a 50-day moving average of $29.95 and a 200 day moving average of $27.48.

PTC Therapeutics (NASDAQ:PTCT) last announced its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.21) by $0.01. The business had revenue of $210.12 million during the quarter, compared to the consensus estimate of $160.27 million. As a group, research analysts expect that PTC Therapeutics, Inc. will post -5.27 earnings per share for the current year.

Analysts Set New Price Targets

PTCT has been the topic of a number of research analyst reports. Jefferies Financial Group raised their target price on PTC Therapeutics from $35.00 to $46.00 and gave the company a “buy” rating in a report on Monday. TD Cowen decreased their target price on shares of PTC Therapeutics from $32.00 to $30.00 and set a “market perform” rating on the stock in a research report on Friday, March 1st. Royal Bank of Canada increased their price target on shares of PTC Therapeutics from $22.00 to $28.00 and gave the stock a “sector perform” rating in a research report on Friday, March 1st. JPMorgan Chase & Co. raised their price target on shares of PTC Therapeutics from $43.00 to $53.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price objective on shares of PTC Therapeutics in a research note on Friday, April 12th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, PTC Therapeutics currently has an average rating of “Hold” and a consensus target price of $35.67.

Institutional Investors Weigh In On PTC Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Burney Co. bought a new position in shares of PTC Therapeutics during the first quarter worth about $1,223,000. Jacobs Levy Equity Management Inc. boosted its stake in shares of PTC Therapeutics by 21.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,605,841 shares of the biopharmaceutical company’s stock valued at $46,714,000 after purchasing an additional 282,422 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of PTC Therapeutics by 40.5% during the first quarter. Janus Henderson Group PLC now owns 3,669,816 shares of the biopharmaceutical company’s stock worth $106,744,000 after buying an additional 1,057,223 shares during the period. Lazard Asset Management LLC increased its position in shares of PTC Therapeutics by 268.9% during the first quarter. Lazard Asset Management LLC now owns 6,504 shares of the biopharmaceutical company’s stock worth $188,000 after buying an additional 4,741 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in PTC Therapeutics during the first quarter worth $3,302,000.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders in the United States and internationally. The company offers Translarna and Emflaza for the treatment of Duchenne muscular dystrophy; Upstaza to treat aromatic l-amino acid decarboxylas (AADC) deficiency, a central nervous system disorder; Tegsedi and Waylivra for the treatment of rare diseases; and Evrysdi to treat spinal muscular atrophy (SMA) in adults and children.