PTC Therapeutics (NASDAQ:PTCT) CEO Sells $170,580.96 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Matthew Klein sold 2,662 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $64.08, for a total transaction of $170,580.96. Following the sale, the chief executive officer owned 396,920 shares in the company, valued at $25,434,633.60. This trade represents a 0.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

PTC Therapeutics Stock Up 1.8%

PTC Therapeutics stock opened at $64.49 on Monday. The stock has a market capitalization of $5.34 billion, a PE ratio of 8.33 and a beta of 0.51. PTC Therapeutics, Inc. has a twelve month low of $35.95 and a twelve month high of $87.50. The company has a 50 day moving average of $71.73 and a 200-day moving average of $70.04.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($1.67) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($1.46). The company had revenue of $164.68 million for 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 revenue was down 22.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.85) earnings per share. Equities analysts anticipate that PTC Therapeutics, Inc. will post -4.52 EPS for the current fiscal year.

Institutional Investors Weigh In On PTC Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in PTCT. UMB Bank n.a. acquired a new position in shares of PTC Therapeutics during the 4th quarter worth about $26,000. Smartleaf Asset Management LLC increased its position in shares of PTC Therapeutics by 101.3% in the third quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 236 shares during the last quarter. Optiver Holding B.V. raised its holdings in PTC Therapeutics by 96.5% during the third quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 249 shares in the last quarter. Comerica Bank raised its holdings in PTC Therapeutics by 868.5% during the third quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 469 shares in the last quarter. Finally, Salomon & Ludwin LLC acquired a new position in PTC Therapeutics during the fourth quarter valued at approximately $41,000.

Analyst Ratings Changes

Several research firms have issued reports on PTCT. Cantor Fitzgerald reissued an “overweight” rating on shares of PTC Therapeutics in a research note on Friday, February 20th. Barclays reaffirmed an “overweight” rating and set a $120.00 price objective on shares of PTC Therapeutics in a research report on Monday, February 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of PTC Therapeutics in a report on Monday, December 29th. Morgan Stanley lifted their target price on PTC Therapeutics from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, February 23rd. Finally, Royal Bank Of Canada cut their target price on PTC Therapeutics from $87.00 to $82.00 and set a “sector perform” rating on the stock in a research note on Friday, February 20th. Ten analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently 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.