PTC Therapeutics (NASDAQ:PTCT) Director Michael Schmertzler Sells 12,500 Shares

PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Michael Schmertzler sold 12,500 shares of PTC Therapeutics stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $72.94, for a total transaction of $911,750.00. Following the sale, the director directly owned 1,349,094 shares in the company, valued at $98,402,916.36. This trade represents a 0.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michael Schmertzler also recently made the following trade(s):

• On Wednesday, August 19th, Michael Schmertzler sold 12,500 shares of PTC Therapeutics stock. The shares were sold at an average price of $73.32, for a total transaction of $916,500.00.

PTC Therapeutics Price Performance

Shares of PTC Therapeutics stock opened at $70.09 on Friday. PTC Therapeutics, Inc. has a fifty-two week low of $48.96 and a fifty-two week high of $90.87. The firm has a market capitalization of $5.85 billion, a P/E ratio of -120.84, a P/E/G ratio of 2.22 and a beta of 0.56. The company’s 50 day moving average price is $77.08 and its two-hundred day moving average price is $72.27.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.68. The company had revenue of $360.52 million during the quarter, compared to the consensus estimate of $298.63 million. PTC Therapeutics had a negative net margin of 3.80% and a negative return on equity of 362.45%. The company’s revenue for the quarter was up 101.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.83) earnings per share. On average, analysts expect that PTC Therapeutics, Inc. will post 1.17 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in shares of PTC Therapeutics in the second quarter valued at about $1,139,089,000. Jupiter Topco LLC bought a new position in shares of PTC Therapeutics during the second quarter worth about $590,182,000. California State Teachers Retirement System lifted its stake in shares of PTC Therapeutics by 7,806.7% in the second quarter. California State Teachers Retirement System now owns 6,666,961 shares of the biopharmaceutical company’s stock worth $543,824,000 after acquiring an additional 6,582,641 shares during the period. Janus Henderson Group PLC lifted its stake in shares of PTC Therapeutics by 48.3% in the first quarter. Janus Henderson Group PLC now owns 7,193,433 shares of the biopharmaceutical company’s stock worth $489,997,000 after acquiring an additional 2,342,101 shares during the period. Finally, William Blair Investment Management LLC bought a new stake in PTC Therapeutics in the second quarter valued at approximately $140,520,000.

Analyst Upgrades and Downgrades

PTCT has been the subject of a number of recent research reports. Barclays upped their target price on PTC Therapeutics from $120.00 to $122.00 and gave the stock an “overweight” rating in a report on Friday, August 14th. Morgan Stanley lifted their price target on PTC Therapeutics from $93.00 to $104.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Wells Fargo & Company boosted their price target on PTC Therapeutics from $106.00 to $109.00 and gave the stock an “overweight” rating in a report on Thursday, August 13th. Cantor Fitzgerald upped their price objective on PTC Therapeutics from $124.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Finally, Jefferies Financial Group upgraded shares of PTC Therapeutics from a “hold” rating to a “buy” rating and raised their price objective for the company from $76.00 to $85.00 in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, PTC Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $98.55.

PTC Therapeutics Company Profile

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.