Insider Selling: PTC Therapeutics (NASDAQ:PTCT) Director Sells 15,834 Shares

PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Mary Smith sold 15,834 shares of the stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $90.00, for a total value of $1,425,060.00. Following the transaction, the director directly owned 21,813 shares of the company’s stock, valued at approximately $1,963,170. This trade represents a 42.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PTC Therapeutics Trading Down 4.1%

Shares of PTCT traded down $3.52 during mid-day trading on Monday, hitting $81.33. The company’s stock had a trading volume of 985,944 shares, compared to its average volume of 1,484,511. PTC Therapeutics, Inc. has a 1-year low of $43.17 and a 1-year high of $90.87. The firm has a market capitalization of $6.75 billion, a P/E ratio of -34.91, a P/E/G ratio of 3.90 and a beta of 0.53. The firm has a 50-day simple moving average of $75.56 and a 200 day simple moving average of $72.73.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.42. The firm had revenue of $272.55 million for the quarter, compared to analyst estimates of $217.42 million. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 22.58%.PTC Therapeutics’s quarterly revenue was up 43.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $10.04 earnings per share. As a group, sell-side analysts predict that PTC Therapeutics, Inc. will post 0.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its position in shares of PTC Therapeutics by 16.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the biopharmaceutical company’s stock worth $71,000 after buying an additional 151 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in PTC Therapeutics by 8.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,128 shares of the biopharmaceutical company’s stock valued at $213,000 after acquiring an additional 244 shares in the last quarter. Allworth Financial LP increased its holdings in PTC Therapeutics by 63.8% during the 4th quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company’s stock valued at $48,000 after acquiring an additional 247 shares in the last quarter. Measured Wealth Private Client Group LLC raised its position in PTC Therapeutics by 5.6% during the fourth quarter. Measured Wealth Private Client Group LLC now owns 4,963 shares of the biopharmaceutical company’s stock worth $377,000 after acquiring an additional 265 shares during the last quarter. Finally, Evolve Private Wealth LLC raised its position in PTC Therapeutics by 5.2% during the first quarter. Evolve Private Wealth LLC now owns 6,122 shares of the biopharmaceutical company’s stock worth $417,000 after acquiring an additional 305 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PTCT shares. TD Cowen upgraded shares of PTC Therapeutics from a “hold” rating to a “buy” rating and increased their price target for the company from $75.00 to $90.00 in a report on Friday, May 8th. Weiss Ratings downgraded shares of PTC Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, May 11th. Raymond James Financial assumed coverage on shares of PTC Therapeutics in a research report on Friday, April 10th. They set an “outperform” rating and a $108.00 target price on the stock. Wells Fargo & Company increased their target price on shares of PTC Therapeutics from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $94.00 price target on shares of PTC Therapeutics in a research report on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.57.

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.