Insider Selling: PTC Therapeutics (NASDAQ:PTCT) CEO Sells 3,428 Shares of Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Matthew Klein sold 3,428 shares of the stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $79.07, for a total value of $271,051.96. Following the sale, the chief executive officer directly owned 349,964 shares in the company, valued at approximately $27,671,653.48. This trade represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

PTC Therapeutics Trading Down 3.5%

NASDAQ PTCT traded down $2.74 on Wednesday, hitting $75.76. 2,494,957 shares of the company’s stock were exchanged, compared to its average volume of 1,219,656. PTC Therapeutics, Inc. has a 52 week low of $35.95 and a 52 week high of $87.50. The stock has a market cap of $6.08 billion, a price-to-earnings ratio of 8.85, a P/E/G ratio of 0.28 and a beta of 0.47. The stock has a 50-day moving average of $70.13 and a 200-day moving average of $57.54.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.19) by $1.39. The company had revenue of $211.01 million during the quarter, compared to the consensus estimate of $177.42 million. PTC Therapeutics had a net margin of 42.25% and a negative return on equity of 194.11%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.39) earnings per share. As a group, analysts predict that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current year.

Hedge Funds Weigh In On PTC Therapeutics

Large investors have recently added to or reduced their stakes in the business. Mackenzie Financial Corp grew its stake in shares of PTC Therapeutics by 14.6% in the first quarter. Mackenzie Financial Corp now owns 26,092 shares of the biopharmaceutical company’s stock worth $1,330,000 after purchasing an additional 3,316 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of PTC Therapeutics by 57.5% during the first quarter. Federated Hermes Inc. now owns 75,345 shares of the biopharmaceutical company’s stock valued at $3,840,000 after purchasing an additional 27,517 shares in the last quarter. Natixis Advisors LLC raised its stake in PTC Therapeutics by 26.2% during the first quarter. Natixis Advisors LLC now owns 15,220 shares of the biopharmaceutical company’s stock valued at $776,000 after buying an additional 3,160 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in PTC Therapeutics by 84.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 700 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 320 shares in the last quarter. Finally, Westfield Capital Management Co. LP purchased a new position in PTC Therapeutics in the 1st quarter worth approximately $259,000.

Analyst Ratings Changes

Several equities analysts recently issued reports on PTCT shares. Wells Fargo & Company boosted their target price on shares of PTC Therapeutics from $73.00 to $93.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Morgan Stanley decreased their price target on shares of PTC Therapeutics from $76.00 to $71.00 and set an “overweight” rating for the company in a research note on Wednesday, August 20th. Bank of America lowered their price objective on PTC Therapeutics from $82.00 to $76.00 and set a “buy” rating for the company in a research note on Wednesday, August 20th. The Goldman Sachs Group raised their price target on shares of PTC Therapeutics from $44.00 to $50.00 and gave the company a “sell” rating in a research report on Wednesday, November 5th. Finally, Barclays boosted their price objective on PTC Therapeutics from $46.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 5th. Nine research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, PTC Therapeutics currently has an average rating of “Hold” and a consensus price target of $76.00.

About PTC Therapeutics

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.