PTC Therapeutics (NASDAQ:PTCT) Director Stephanie Okey Sells 6,333 Shares

PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Stephanie Okey sold 6,333 shares of the stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $63.38, for a total transaction of $401,385.54. Following the sale, the director directly owned 8,000 shares in the company, valued at approximately $507,040. The trade was a 44.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

PTC Therapeutics Stock Up 8.9%

Shares of PTC Therapeutics stock opened at $68.40 on Tuesday. PTC Therapeutics, Inc. has a twelve month low of $35.95 and a twelve month high of $87.50. The business has a 50-day moving average price of $72.59 and a 200 day moving average price of $69.59. The firm has a market cap of $5.66 billion, a PE ratio of 8.84 and a beta of 0.51.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($1.46). PTC Therapeutics had a negative return on equity of 362.45% and a net margin of 39.44%.The business had revenue of $164.68 million for the quarter, compared to analysts’ expectations of $281.45 million. During the same quarter in the prior year, the company posted ($0.85) EPS. The business’s revenue for the quarter was down 22.7% compared to the same quarter last year. On average, sell-side analysts expect that PTC Therapeutics, Inc. will post -4.52 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PTCT. TD Cowen reiterated a “hold” rating on shares of PTC Therapeutics in a research report on Thursday, January 29th. Weiss Ratings reissued a “hold (c)” rating on shares of PTC Therapeutics in a report on Monday, December 29th. Barclays restated an “overweight” rating and set a $120.00 price objective on shares of PTC Therapeutics in a research report on Monday, February 23rd. Bank of America dropped their target price on shares of PTC Therapeutics from $97.00 to $93.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Finally, Morgan Stanley boosted their target price on shares of PTC Therapeutics from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, February 23rd. Ten equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $82.79.

Institutional Trading of PTC Therapeutics

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in PTC Therapeutics by 6.2% in the 4th quarter. Vanguard Group Inc. now owns 8,803,203 shares of the biopharmaceutical company’s stock valued at $668,691,000 after purchasing an additional 514,204 shares during the last quarter. Wellington Management Group LLP boosted its stake in PTC Therapeutics by 4.8% during the 3rd quarter. Wellington Management Group LLP now owns 4,918,619 shares of the biopharmaceutical company’s stock worth $301,856,000 after purchasing an additional 224,481 shares during the last quarter. Janus Henderson Group PLC boosted its stake in PTC Therapeutics by 28.6% during the 4th quarter. Janus Henderson Group PLC now owns 4,851,332 shares of the biopharmaceutical company’s stock worth $368,587,000 after purchasing an additional 1,077,776 shares during the last quarter. State Street Corp grew its holdings in shares of PTC Therapeutics by 34.2% during the fourth quarter. State Street Corp now owns 4,206,126 shares of the biopharmaceutical company’s stock worth $319,497,000 after buying an additional 1,071,343 shares in the last quarter. Finally, Toronto Dominion Bank grew its holdings in shares of PTC Therapeutics by 27.5% during the fourth quarter. Toronto Dominion Bank now owns 4,138,215 shares of the biopharmaceutical company’s stock worth $314,339,000 after buying an additional 891,690 shares in the last quarter.

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.