PTC Therapeutics (NASDAQ:PTCT) Announces Quarterly Earnings Results

PTC Therapeutics (NASDAQ:PTCT) released its quarterly earnings results on Thursday. The biopharmaceutical company reported ($1.67) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($1.30), Zacks reports. PTC Therapeutics had a net margin of 42.25% and a negative return on equity of 194.11%. The firm had revenue of $164.68 million for the quarter, compared to the consensus estimate of $281.45 million.

PTC Therapeutics Stock Performance

Shares of PTC Therapeutics stock traded up $0.97 on Thursday, hitting $69.90. The company’s stock had a trading volume of 964,328 shares, compared to its average volume of 1,252,607. PTC Therapeutics has a 1 year low of $35.95 and a 1 year high of $87.50. The company has a market capitalization of $5.61 billion, a price-to-earnings ratio of 8.17 and a beta of 0.48. The firm has a fifty day moving average price of $75.12 and a 200-day moving average price of $67.76.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group increased their price objective on shares of PTC Therapeutics from $63.00 to $77.00 and gave the company a “buy” rating in a report on Tuesday, October 28th. Wells Fargo & Company lifted their price target on shares of PTC Therapeutics from $73.00 to $93.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. Citigroup increased their target price on PTC Therapeutics from $50.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. The Goldman Sachs Group boosted their price target on PTC Therapeutics from $44.00 to $50.00 and gave the company a “sell” rating in a report on Wednesday, November 5th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of PTC Therapeutics in a research report on Monday, December 29th. Ten analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, PTC Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.67.

Insider Buying and Selling at PTC Therapeutics

In other news, CEO Matthew B. Klein sold 2,514 shares of the company’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $76.45, for a total transaction of $192,195.30. Following the completion of the sale, the chief executive officer owned 394,453 shares of the company’s stock, valued at $30,155,931.85. This represents a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Neil Gregory Almstead sold 881 shares of the firm’s stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $76.45, for a total transaction of $67,352.45. Following the completion of the transaction, the insider directly owned 115,196 shares in the company, valued at $8,806,734.20. This trade represents a 0.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 280,871 shares of company stock valued at $22,290,337. Corporate insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On PTC Therapeutics

Hedge funds have recently modified their holdings of the company. UMB Bank n.a. purchased a new stake in shares of PTC Therapeutics during the 4th quarter valued at approximately $26,000. Comerica Bank lifted its position in PTC Therapeutics by 868.5% in the third 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. IFP Advisors Inc lifted its position in PTC Therapeutics by 68.1% in the third quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock valued at $47,000 after buying an additional 310 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in PTC Therapeutics by 247.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,143 shares of the biopharmaceutical company’s stock worth $56,000 after buying an additional 814 shares during the period. Finally, Smartleaf Asset Management LLC increased its position in shares of PTC Therapeutics by 96.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 921 shares of the biopharmaceutical company’s stock valued at $70,000 after acquiring an additional 452 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.