PTC Therapeutics (NASDAQ:PTCT) Director Michael Schmertzler Sells 10,000 Shares

PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Michael Schmertzler sold 10,000 shares of the stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $67.12, for a total value of $671,200.00. Following the completion of the sale, the director owned 1,306,594 shares of the company’s stock, valued at approximately $87,698,589.28. This represents a 0.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, September 9th, Michael Schmertzler sold 10,000 shares of PTC Therapeutics stock. The stock was sold at an average price of $67.84, for a total value of $678,400.00.
• On Wednesday, August 26th, Michael Schmertzler sold 12,500 shares of PTC Therapeutics stock. The stock was sold at an average price of $72.94, for a total value of $911,750.00.
• 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 Stock Performance

Shares of NASDAQ:PTCT opened at $65.37 on Friday. The business’s 50-day simple moving average is $72.27 and its 200 day simple moving average is $72.10. The company has a market cap of $5.46 billion, a P/E ratio of -112.71, a PEG ratio of 2.10 and a beta of 0.55. PTC Therapeutics, Inc. has a one year low of $57.74 and a one year high of $90.87.

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, 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 firm had revenue of $360.52 million during the quarter, compared to analysts’ expectations of $298.63 million. During the same quarter in the prior year, the business earned ($0.83) EPS. PTC Therapeutics’s quarterly revenue was up 101.5% compared to the same quarter last year. Analysts predict that PTC Therapeutics, Inc. will post 1.17 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PTCT shares. Barclays raised their price target on shares of PTC Therapeutics from $120.00 to $122.00 and gave the company an “overweight” rating in a report on Friday, August 14th. Leerink Partners initiated coverage on shares of PTC Therapeutics in a report on Monday, September 14th. They issued an “outperform” rating and a $98.00 price objective on the stock. Cantor Fitzgerald upped 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. Morgan Stanley raised their target price on PTC Therapeutics from $93.00 to $104.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Finally, Jefferies Financial Group raised PTC Therapeutics from a “hold” rating to a “buy” rating and lifted their target price for the stock from $76.00 to $85.00 in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $98.50.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PTCT. Allworth Financial LP increased its position in shares of PTC Therapeutics by 63.8% in the 4th quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company’s stock worth $48,000 after purchasing an additional 247 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of PTC Therapeutics by 16.9% during the first quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the biopharmaceutical company’s stock worth $71,000 after purchasing an additional 151 shares during the last quarter. Harbor Investment Advisory LLC acquired a new position in PTC Therapeutics in the second quarter worth about $81,000. IFP Advisors Inc grew its stake in PTC Therapeutics by 64.3% in the fourth quarter. IFP Advisors Inc now owns 1,257 shares of the biopharmaceutical company’s stock worth $95,000 after purchasing an additional 492 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in PTC Therapeutics in the second quarter valued at about $112,000.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for rare diseases. The company uses technologies involving RNA biology, gene therapy and small-molecule drug discovery to address conditions with limited treatment options, including rare neurological and metabolic disorders.

PTC’s commercial portfolio has included Translarna (ataluren), an investigational treatment in some markets for Duchenne muscular dystrophy associated with a nonsense mutation, and Emflaza (deflazacort), a corticosteroid approved in the United States for Duchenne muscular dystrophy.