PTC Therapeutics (NASDAQ:PTCT) Insider Neil Gregory Almstead Sells 8,130 Shares

PTC Therapeutics, Inc. (NASDAQ:PTCT) insider Neil Gregory Almstead sold 8,130 shares of the stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $85.26, for a total value of $693,163.80. Following the completion of the sale, the insider directly owned 60,137 shares in the company, valued at $5,127,280.62. This represents a 11.91% decrease in their position. The transaction was disclosed in a filing 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.

Neil Gregory Almstead also recently made the following trade(s):

• On Thursday, June 25th, Neil Gregory Almstead sold 20,960 shares of PTC Therapeutics stock. The shares were sold at an average price of $85.97, for a total value of $1,801,931.20.
• On Wednesday, June 24th, Neil Gregory Almstead sold 5,323 shares of PTC Therapeutics stock. The stock was sold at an average price of $85.03, for a total transaction of $452,614.69.
• On Monday, June 22nd, Neil Gregory Almstead sold 23,749 shares of PTC Therapeutics stock. The shares were sold at an average price of $80.90, for a total transaction of $1,921,294.10.
• On Wednesday, April 1st, Neil Gregory Almstead sold 52,003 shares of PTC Therapeutics stock. The shares were sold at an average price of $69.04, for a total transaction of $3,590,287.12.

PTC Therapeutics Stock Performance

NASDAQ PTCT remained flat at $81.57 during trading on Tuesday. The company’s stock had a trading volume of 2,375,631 shares, compared to its average volume of 1,435,798. The firm has a market cap of $6.77 billion, a PE ratio of -35.01, a P/E/G ratio of 3.88 and a beta of 0.55. The stock has a 50-day simple moving average of $72.76 and a 200 day simple moving average of $72.14. PTC Therapeutics, Inc. has a 12 month low of $43.17 and a 12 month high of $87.50.

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

Institutional Trading of PTC Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. UMB Bank n.a. purchased a new position in PTC Therapeutics during the 4th quarter worth $26,000. Comerica Bank raised its holdings in shares of 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. Salomon & Ludwin LLC purchased a new stake in shares of PTC Therapeutics in the fourth quarter valued at about $41,000. IFP Advisors Inc boosted its stake in shares of PTC Therapeutics by 68.1% during 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 boosted its stake in shares of PTC Therapeutics by 63.8% during 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.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Morgan Stanley reissued an “overweight” rating and issued a $94.00 price target on shares of PTC Therapeutics in a research report on Friday, May 8th. Royal Bank Of Canada lifted their target price on PTC Therapeutics from $81.00 to $82.00 and gave the stock a “sector perform” rating in a research report on Friday, May 8th. Raymond James Financial initiated coverage on PTC Therapeutics in a report on Friday, April 10th. They issued an “outperform” rating and a $108.00 target price for the company. Jefferies Financial Group raised PTC Therapeutics from a “hold” rating to a “buy” rating and boosted their target price for the company from $76.00 to $85.00 in a report on Wednesday, May 27th. Finally, Citigroup raised PTC Therapeutics from a “neutral” rating to a “buy” rating and upped their target price for the company from $75.00 to $108.00 in a research report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.36.

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.