PTC Therapeutics (NASDAQ:PTCT) Director Sells $1,425,060.00 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Mary Smith sold 15,834 shares of the business’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $90.00, for a total value of $1,425,060.00. Following the completion of the sale, the director directly owned 21,813 shares of the company’s stock, valued at approximately $1,963,170. This trade represents a 42.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PTC Therapeutics Price Performance

Shares of PTCT stock opened at $78.84 on Thursday. The business has a 50-day moving average of $76.40 and a 200 day moving average of $72.76. PTC Therapeutics, Inc. has a 1-year low of $43.17 and a 1-year high of $90.87. The stock has a market capitalization of $6.54 billion, a PE ratio of -33.84, a P/E/G ratio of 3.59 and a beta of 0.53.

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Raymond James Financial started coverage on shares of PTC Therapeutics in a research report on Friday, April 10th. They set an “outperform” rating and a $108.00 price target for the company. Jefferies Financial Group upgraded shares of PTC Therapeutics from a “hold” rating to a “buy” rating and boosted their price objective for the company from $76.00 to $85.00 in a research report on Wednesday, May 27th. Morgan Stanley reaffirmed an “overweight” rating and set a $94.00 price objective on shares of PTC Therapeutics in a research note on Friday, May 8th. Zacks Research upgraded shares of PTC Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. Finally, Truist Financial raised PTC Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, PTC Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $91.57.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. UMB Bank n.a. bought a new stake in shares of PTC Therapeutics during the 4th quarter valued at about $26,000. Comerica Bank raised its stake 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 buying an additional 469 shares in the last quarter. Salomon & Ludwin LLC bought a new position in PTC Therapeutics in the fourth quarter worth about $41,000. IFP Advisors Inc lifted 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 period. Finally, Allworth Financial LP lifted 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 period.

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.