PTC Therapeutics (NASDAQ:PTCT) Director Sells $781,920.00 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Glenn Steele, Jr. sold 12,000 shares of the firm’s stock in a transaction on Wednesday, September 30th. The shares were sold at an average price of $65.16, for a total value of $781,920.00. Following the transaction, the director owned 22,500 shares of the company’s stock, valued at $1,466,100. The trade was a 34.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PTC Therapeutics Price Performance

PTCT opened at $63.46 on Monday. The firm has a market cap of $5.30 billion, a PE ratio of -109.41, a P/E/G ratio of 1.96 and a beta of 0.49. The stock has a 50-day moving average price of $69.39 and a 200-day moving average price of $72.07. PTC Therapeutics, Inc. has a 1 year low of $61.23 and a 1 year high of $90.87.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.68. The firm had revenue of $360.52 million for the quarter, compared to the consensus estimate of $298.63 million. The firm’s revenue for the quarter was up 101.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.83) earnings per share. As a group, sell-side analysts anticipate that PTC Therapeutics, Inc. will post 1.17 EPS for the current year.

Analyst Ratings Changes

PTCT has been the topic of several analyst reports. Barclays upped their price objective on PTC Therapeutics from $120.00 to $122.00 and gave the company an “overweight” rating in a research report on Friday, August 14th. Citigroup upgraded PTC Therapeutics from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $75.00 to $108.00 in a research note on Tuesday, June 9th. Royal Bank Of Canada increased their price objective on PTC Therapeutics from $82.00 to $85.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 7th. Morgan Stanley lifted their price objective on PTC Therapeutics from $93.00 to $104.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Finally, Zacks Research lowered PTC Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $99.08.

Institutional Trading of PTC Therapeutics

A number of hedge funds have recently bought and sold shares of the company. Allworth Financial LP purchased a new position in PTC Therapeutics in the second quarter worth about $67,000. Harbor Investment Advisory LLC purchased a new stake in shares of PTC Therapeutics during the 2nd quarter valued at about $81,000. EverSource Wealth Advisors LLC lifted its stake 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 purchasing an additional 151 shares during the period. Quantbot Technologies LP bought a new position in shares of PTC Therapeutics in the 2nd quarter worth approximately $112,000. Finally, GAMMA Investing LLC lifted its stake in shares of PTC Therapeutics by 58.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,453 shares of the biopharmaceutical company’s stock worth $119,000 after purchasing an additional 534 shares during the period.

About PTC Therapeutics

PTC Therapeutics, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for rare diseases. Its research programs use technologies designed to address genetic and molecular causes of disease, including RNA biology, protein translation and gene therapy.

The company’s commercial portfolio includes Emflaza (deflazacort), a corticosteroid approved in the United States to treat Duchenne muscular dystrophy, and Upstaza (eladocagene exuparvovec), a gene therapy for aromatic L-amino acid decarboxylase deficiency in eligible patients.