Insider Selling: PTC Therapeutics (NASDAQ:PTCT) Director Sells $916,500.00 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Michael Schmertzler sold 12,500 shares of the business’s 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. The trade was a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PTC Therapeutics Stock Performance

NASDAQ PTCT opened at $69.82 on Monday. The company has a 50-day moving average price of $77.62 and a two-hundred day moving average price of $72.34. PTC Therapeutics, Inc. has a 52 week low of $48.28 and a 52 week high of $90.87. The stock has a market cap of $5.83 billion, a price-to-earnings ratio of -120.38, a price-to-earnings-growth ratio of 2.15 and a beta of 0.56.

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PTCT. TD Cowen upgraded shares of PTC Therapeutics from a “hold” rating to a “buy” rating and lifted their price objective for the company from $75.00 to $90.00 in a research note on Friday, May 8th. Zacks Research cut shares of PTC Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 6th. Cantor Fitzgerald boosted their price target on shares of PTC Therapeutics from $124.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Royal Bank Of Canada upped their price target on shares of PTC Therapeutics from $82.00 to $85.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 7th. Finally, Morgan Stanley increased their price objective on shares of PTC Therapeutics from $93.00 to $104.00 and gave the company an “overweight” rating in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $98.55.

Institutional Investors Weigh In On PTC Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. UMB Bank n.a. acquired a new position in shares of PTC Therapeutics in the 4th quarter worth approximately $26,000. Comerica Bank raised its holdings in shares of PTC Therapeutics by 868.5% in the 3rd quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 469 shares in the last quarter. Salomon & Ludwin LLC acquired a new stake in PTC Therapeutics during the fourth quarter valued at approximately $41,000. IFP Advisors Inc lifted its stake in PTC Therapeutics by 68.1% during the third quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 310 shares during the last quarter. Finally, Allworth Financial LP lifted its stake in PTC Therapeutics by 63.8% during the fourth quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company’s stock valued at $48,000 after purchasing an additional 247 shares during the last quarter.

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.