PTC Therapeutics (NASDAQ:PTCT) Director Michael Schmertzler Sells 12,500 Shares of Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Michael Schmertzler sold 12,500 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $73.32, for a total transaction of $916,500.00. Following the transaction, the director directly owned 1,374,094 shares of the company’s stock, valued at $100,748,572.08. This trade represents a 0.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PTC Therapeutics Stock Down 1.0%

Shares of PTC Therapeutics stock opened at $69.82 on Friday. The firm has a market cap of $5.83 billion, a price-to-earnings ratio of -120.38, a PEG ratio of 2.18 and a beta of 0.56. The business has a 50-day moving average price of $77.62 and a 200-day moving average price of $72.35. PTC Therapeutics, Inc. has a twelve month low of $48.28 and a twelve month high of $90.87.

PTC Therapeutics (NASDAQ:PTCT) last posted its earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.68. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 3.80%.The company had revenue of $360.52 million for the quarter, compared to the consensus estimate of $298.63 million. During the same period in the previous year, the business earned ($0.83) earnings per share. The firm’s revenue for the quarter was up 101.5% on a year-over-year basis. On average, equities analysts expect that PTC Therapeutics, Inc. will post 1.17 EPS for the current fiscal year.

Institutional Investors Weigh In On PTC Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PTCT. BlackRock Inc. bought a new stake in shares of PTC Therapeutics in the 2nd quarter valued at approximately $1,139,089,000. Vanguard Group Inc. increased its position in shares of PTC Therapeutics by 6.2% during the 4th quarter. Vanguard Group Inc. now owns 8,803,203 shares of the biopharmaceutical company’s stock valued at $668,691,000 after purchasing an additional 514,204 shares during the last quarter. Jupiter Topco LLC bought a new position in shares of PTC Therapeutics during the 2nd quarter valued at approximately $590,182,000. Janus Henderson Group PLC raised its holdings in PTC Therapeutics by 48.3% during the 1st quarter. Janus Henderson Group PLC now owns 7,193,433 shares of the biopharmaceutical company’s stock valued at $489,997,000 after buying an additional 2,342,101 shares during the period. Finally, Wellington Management Group LLP raised its holdings in PTC Therapeutics by 4.8% during the 3rd quarter. Wellington Management Group LLP now owns 4,918,619 shares of the biopharmaceutical company’s stock valued at $301,856,000 after buying an additional 224,481 shares during the period.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. TD Cowen raised PTC Therapeutics from a “hold” rating to a “buy” rating and upped their price objective for the stock from $75.00 to $90.00 in a report on Friday, May 8th. Wall Street Zen lowered shares of PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Saturday. Zacks Research cut shares of PTC Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. Jefferies Financial Group raised shares of PTC Therapeutics from a “hold” rating to a “buy” rating and upped their price target for the company from $76.00 to $85.00 in a research note on Wednesday, May 27th. Finally, Cantor Fitzgerald increased their price objective on shares of PTC Therapeutics from $124.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, PTC Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.55.

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.