PTC Therapeutics (NASDAQ:PTCT) CEO Sells 10,292 Shares

PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Matthew Klein sold 10,292 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $68.57, for a total transaction of $705,722.44. Following the sale, the chief executive officer owned 383,868 shares in the company, valued at $26,321,828.76. This represents a 2.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

PTC Therapeutics Price Performance

PTC Therapeutics stock traded up $1.64 during midday trading on Thursday, reaching $70.85. The stock had a trading volume of 928,897 shares, compared to its average volume of 1,472,214. PTC Therapeutics, Inc. has a twelve month low of $43.17 and a twelve month high of $90.87. The firm has a market cap of $5.91 billion, a price-to-earnings ratio of -122.16, a PEG ratio of 1.92 and a beta of 0.56. The firm’s fifty day simple moving average is $77.56 and its two-hundred day simple moving average is $72.55.

PTC Therapeutics (NASDAQ:PTCT) last announced its earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.68. The company had revenue of $360.52 million for 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 was up 101.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.83) EPS. As a group, sell-side analysts predict that PTC Therapeutics, Inc. will post 1.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PTCT has been the subject of several research analyst reports. Citigroup raised PTC Therapeutics from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $75.00 to $108.00 in a research note on Tuesday, June 9th. Raymond James Financial assumed coverage on PTC Therapeutics in a research note on Friday, April 10th. They set an “outperform” rating and a $108.00 target price on the stock. Cantor Fitzgerald upped their target price on PTC Therapeutics from $124.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. TD Cowen raised shares of PTC Therapeutics from a “hold” rating to a “buy” rating and increased their price target for the stock from $75.00 to $90.00 in a research report on Friday, May 8th. Finally, Zacks Research upgraded shares of PTC Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $95.75.

Institutional Trading of PTC Therapeutics

A number of institutional investors have recently bought and sold shares of PTCT. UMB Bank n.a. acquired a new position in PTC Therapeutics in the 4th quarter worth about $26,000. Comerica Bank lifted its holdings in shares of PTC Therapeutics by 868.5% during the 3rd quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 469 shares during the last quarter. Salomon & Ludwin LLC bought a new stake in shares of PTC Therapeutics in the 4th quarter valued at approximately $41,000. IFP Advisors Inc increased its holdings in PTC Therapeutics by 68.1% in the third quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock worth $47,000 after buying an additional 310 shares during the last quarter. Finally, Allworth Financial LP increased its holdings in PTC Therapeutics by 63.8% in the fourth quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company’s stock worth $48,000 after buying an additional 247 shares during the last quarter.

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.