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

PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Michael Schmertzler sold 12,500 shares of the stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $72.94, for a total transaction of $911,750.00. Following the transaction, the director directly owned 1,349,094 shares of the company’s stock, valued at $98,402,916.36. This trade represents a 0.92% 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.

Michael Schmertzler also recently made the following trade(s):

• On Wednesday, August 19th, Michael Schmertzler sold 12,500 shares of PTC Therapeutics stock. The shares were sold at an average price of $73.32, for a total value of $916,500.00.

PTC Therapeutics Trading Down 2.4%

Shares of PTCT stock opened at $70.09 on Friday. The stock has a market capitalization of $5.85 billion, a price-to-earnings ratio of -120.84, a price-to-earnings-growth ratio of 2.16 and a beta of 0.56. PTC Therapeutics, Inc. has a 12-month low of $48.96 and a 12-month high of $90.87. The stock’s 50-day moving average price is $77.08 and its 200-day moving average price is $72.27.

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on PTCT shares. TD Cowen upgraded shares of PTC Therapeutics from a “hold” rating to a “buy” rating and boosted their price target for the stock from $75.00 to $90.00 in a research report on Friday, May 8th. Royal Bank Of Canada increased their price objective on shares of PTC Therapeutics from $82.00 to $85.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 7th. Weiss Ratings lowered PTC Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, August 17th. Barclays lifted their target price on PTC Therapeutics from $120.00 to $122.00 and gave the stock an “overweight” rating in a report on Friday, August 14th. Finally, Citigroup raised PTC Therapeutics from a “neutral” rating to a “buy” rating and boosted 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, nine have assigned a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $98.55.

Institutional Trading of PTC Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PTCT. Thrivent Financial for Lutherans purchased a new stake in shares of PTC Therapeutics in the 4th quarter worth $4,191,000. Royce & Associates LP raised its holdings in shares of PTC Therapeutics by 146.5% in the fourth quarter. Royce & Associates LP now owns 80,794 shares of the biopharmaceutical company’s stock valued at $6,137,000 after acquiring an additional 48,015 shares in the last quarter. Jefferies Financial Group Inc. lifted its position in shares of PTC Therapeutics by 4.7% in the 4th quarter. Jefferies Financial Group Inc. now owns 1,658,481 shares of the biopharmaceutical company’s stock worth $125,978,000 after purchasing an additional 73,803 shares during the period. Legal & General Group Plc boosted its stake in shares of PTC Therapeutics by 51.8% during the fourth quarter. Legal & General Group Plc now owns 366,265 shares of the biopharmaceutical company’s stock valued at $27,821,000 after purchasing an additional 124,923 shares in the last quarter. Finally, Comerica Bank increased its holdings in PTC Therapeutics by 3,231.9% during the fourth quarter. Comerica Bank now owns 17,426 shares of the biopharmaceutical company’s stock valued at $1,324,000 after buying an additional 16,903 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.