Matthew Klein Sells 2,662 Shares of PTC Therapeutics (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Matthew Klein sold 2,662 shares of the stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $64.08, for a total value of $170,580.96. Following the completion of the sale, the chief executive officer directly owned 396,920 shares of the company’s stock, valued at approximately $25,434,633.60. The trade was a 0.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

PTC Therapeutics Price Performance

Shares of PTC Therapeutics stock traded up $1.13 during midday trading on Friday, reaching $64.49. The company had a trading volume of 605,686 shares, compared to its average volume of 1,231,727. The stock has a fifty day moving average price of $71.73 and a 200 day moving average price of $69.75. PTC Therapeutics, Inc. has a fifty-two week low of $35.95 and a fifty-two week high of $87.50. The firm has a market cap of $5.34 billion, a PE ratio of 8.33 and a beta of 0.51.

PTC Therapeutics (NASDAQ:PTCT) last released its earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($1.46). PTC Therapeutics had a net margin of 39.44% and a negative return on equity of 362.45%. The firm had revenue of $164.68 million for the quarter, compared to analyst estimates of $281.45 million. During the same period in the prior year, the company posted ($0.85) EPS. The business’s revenue for the quarter was down 22.7% compared to the same quarter last year. As a group, sell-side analysts forecast that PTC Therapeutics, Inc. will post -4.52 EPS for the current year.

Institutional Investors Weigh In On PTC Therapeutics

A number of large investors have recently bought and sold shares of the stock. Jefferies Financial Group Inc. acquired a new position in shares of PTC Therapeutics during the third quarter valued at about $97,252,000. Janus Henderson Group PLC boosted its position in shares of PTC Therapeutics by 28.6% during the 4th quarter. Janus Henderson Group PLC now owns 4,851,332 shares of the biopharmaceutical company’s stock worth $368,587,000 after purchasing an additional 1,077,776 shares in the last quarter. State Street Corp grew its stake in shares of PTC Therapeutics by 34.2% in the 4th quarter. State Street Corp now owns 4,206,126 shares of the biopharmaceutical company’s stock valued at $319,497,000 after buying an additional 1,071,343 shares during the period. Toronto Dominion Bank grew its stake in shares of PTC Therapeutics by 27.5% in the 4th quarter. Toronto Dominion Bank now owns 4,138,215 shares of the biopharmaceutical company’s stock valued at $314,339,000 after buying an additional 891,690 shares during the period. Finally, BNP Paribas Financial Markets increased its position in PTC Therapeutics by 4,013.1% in the 4th quarter. BNP Paribas Financial Markets now owns 828,662 shares of the biopharmaceutical company’s stock valued at $62,945,000 after buying an additional 808,515 shares in the last quarter.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PTCT shares. TD Cowen reissued a “hold” rating on shares of PTC Therapeutics in a research note on Thursday, January 29th. Bank of America cut their price target on shares of PTC Therapeutics from $97.00 to $93.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of PTC Therapeutics in a report on Monday, December 29th. Morgan Stanley boosted their price objective on PTC Therapeutics from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, February 23rd. Finally, Royal Bank Of Canada cut their target price on PTC Therapeutics from $87.00 to $82.00 and set a “sector perform” rating on the stock in a research report on Friday, February 20th. Ten investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, PTC Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.79.

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.