PTC Therapeutics (NASDAQ:PTCT) Director Sells $1,061,690.00 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Stephanie Okey sold 15,167 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $70.00, for a total value of $1,061,690.00. Following the sale, the director directly owned 8,000 shares of the company’s stock, valued at $560,000. This trade represents a 65.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Stephanie Okey also recently made the following trade(s):

• On Thursday, March 5th, Stephanie Okey sold 6,333 shares of PTC Therapeutics stock. The stock was sold at an average price of $63.38, for a total value of $401,385.54.

PTC Therapeutics Trading Down 3.5%

PTC Therapeutics stock traded down $2.31 during trading hours on Thursday, reaching $63.36. 1,050,445 shares of the company were exchanged, compared to its average volume of 1,297,072. PTC Therapeutics, Inc. has a 12 month low of $35.95 and a 12 month high of $87.50. The firm has a market cap of $5.24 billion, a price-to-earnings ratio of 8.19 and a beta of 0.51. The stock has a 50-day moving average of $72.23 and a 200 day moving average of $69.69.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PTCT. UMB Bank n.a. bought a new position in PTC Therapeutics in the 4th quarter valued at $26,000. Smartleaf Asset Management LLC boosted its stake in PTC Therapeutics by 101.3% in the third quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 236 shares in the last quarter. Optiver Holding B.V. grew its holdings in shares of PTC Therapeutics by 96.5% during the 3rd quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 249 shares during the last quarter. Comerica Bank increased 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 worth $32,000 after buying an additional 469 shares during the period. Finally, Salomon & Ludwin LLC purchased a new position in PTC Therapeutics in the 4th quarter worth approximately $41,000.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Bank of America decreased their price objective on PTC Therapeutics from $97.00 to $93.00 and set a “buy” rating for the company in a report on Friday, February 20th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of PTC Therapeutics in a report on Friday, February 20th. Wall Street Zen downgraded shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. Wells Fargo & Company lowered their target price on PTC Therapeutics from $93.00 to $86.00 and set an “overweight” rating for the company in a research report on Friday, February 20th. Finally, Barclays restated an “overweight” rating and set a $120.00 target price on shares of PTC Therapeutics in a research report on Monday, February 23rd. Ten research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.