Stephanie Okey Sells 15,167 Shares of PTC Therapeutics (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Stephanie Okey sold 15,167 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $70.00, for a total transaction of $1,061,690.00. Following the transaction, the director owned 8,000 shares of the company’s stock, valued at approximately $560,000. This trade represents a 65.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Stephanie Okey also recently made the following trade(s):

• On Thursday, March 5th, Stephanie Okey sold 6,333 shares of PTC Therapeutics stock. The stock was sold at an average price of $63.38, for a total transaction of $401,385.54.

PTC Therapeutics Price Performance

PTCT stock opened at $64.49 on Friday. PTC Therapeutics, Inc. has a 12 month low of $35.95 and a 12 month high of $87.50. The firm has a market cap of $5.34 billion, a PE ratio of 8.33 and a beta of 0.51. The firm has a 50 day simple moving average of $71.73 and a 200 day simple moving average of $69.75.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Vise Technologies Inc. acquired a new stake in shares of PTC Therapeutics during the second quarter worth approximately $486,000. WCM Investment Management LLC purchased a new position in PTC Therapeutics during the third quarter valued at approximately $8,919,000. Prudential Financial Inc. increased its stake in PTC Therapeutics by 35.5% in the 2nd quarter. Prudential Financial Inc. now owns 84,250 shares of the biopharmaceutical company’s stock valued at $4,115,000 after buying an additional 22,060 shares during the period. Sector Gamma AS increased its stake in PTC Therapeutics by 28.0% in the 3rd quarter. Sector Gamma AS now owns 118,112 shares of the biopharmaceutical company’s stock valued at $7,249,000 after buying an additional 25,862 shares during the period. Finally, QRG Capital Management Inc. purchased a new stake in PTC Therapeutics in the 3rd quarter worth approximately $2,090,000.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PTCT. Weiss Ratings restated a “hold (c)” rating on shares of PTC Therapeutics in a report on Monday, December 29th. Bank of America reduced their target price on PTC Therapeutics from $97.00 to $93.00 and set a “buy” rating for the company in a report on Friday, February 20th. Wall Street Zen cut PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, February 21st. Cantor Fitzgerald restated an “overweight” rating on shares of PTC Therapeutics in a report on Friday, February 20th. Finally, Royal Bank Of Canada reduced their price objective on shares of PTC Therapeutics from $87.00 to $82.00 and set a “sector perform” rating for the company in a research note on Friday, February 20th. Ten research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $82.79.

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.