PTC Therapeutics (NASDAQ:PTCT) CAO Christine Marie Utter Sells 19,686 Shares

PTC Therapeutics, Inc. (NASDAQ:PTCT) CAO Christine Marie Utter sold 19,686 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $75.56, for a total transaction of $1,487,474.16. Following the sale, the chief accounting officer owned 70,199 shares of the company’s stock, valued at approximately $5,304,236.44. This represents a 21.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PTC Therapeutics Stock Up 2.5%

Shares of PTCT stock traded up $1.98 during mid-day trading on Monday, reaching $80.96. The company’s stock had a trading volume of 2,399,709 shares, compared to its average volume of 1,353,855. The company’s 50 day simple moving average is $71.37 and its 200-day simple moving average is $71.88. PTC Therapeutics, Inc. has a 12-month low of $43.17 and a 12-month high of $87.50. The firm has a market capitalization of $6.72 billion, a PE ratio of -34.75, a price-to-earnings-growth ratio of 3.63 and a beta of 0.56.

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PTCT shares. TD Cowen upgraded PTC Therapeutics from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $75.00 to $90.00 in a research note on Friday, May 8th. Morgan Stanley reiterated an “overweight” rating and issued a $94.00 target price on shares of PTC Therapeutics in a research note on Friday, May 8th. Jefferies Financial Group upgraded PTC Therapeutics from a “hold” rating to a “buy” rating and raised their target price for the company from $76.00 to $85.00 in a report on Wednesday, May 27th. Citigroup raised 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 report on Tuesday, June 9th. Finally, Barclays restated an “overweight” rating and issued a $120.00 price target on shares of PTC Therapeutics in a report on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, PTC Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $91.36.

Institutional Trading of PTC Therapeutics

Several large investors have recently modified their holdings of the business. UMB Bank n.a. bought a new stake in shares of PTC Therapeutics in the 4th quarter valued at approximately $26,000. Optiver Holding B.V. boosted its holdings in PTC Therapeutics by 96.5% in the third quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 249 shares during the period. Comerica Bank boosted its holdings in PTC Therapeutics by 868.5% in the third quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 469 shares during the period. Salomon & Ludwin LLC bought a new stake in PTC Therapeutics during the fourth quarter valued at $41,000. Finally, IFP Advisors Inc increased its stake in PTC Therapeutics by 68.1% during the third quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 310 shares during the last quarter.

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.