PTC Therapeutics (NASDAQ:PTCT) Director Sells $781,920.00 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Glenn Md Phd Steele, Jr. sold 12,000 shares of PTC Therapeutics stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $65.16, for a total transaction of $781,920.00. Following the sale, the director owned 22,500 shares of the company’s stock, valued at $1,466,100. The trade was a 34.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PTC Therapeutics Stock Performance

Shares of NASDAQ PTCT traded down $0.67 during mid-day trading on Friday, hitting $63.46. The stock had a trading volume of 895,553 shares, compared to its average volume of 1,380,635. The firm has a market cap of $5.30 billion, a PE ratio of -109.41, a PEG ratio of 2.00 and a beta of 0.49. The company has a 50 day moving average of $69.66 and a two-hundred day moving average of $72.09. PTC Therapeutics, Inc. has a twelve month low of $61.23 and a twelve month high of $90.87.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly 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. The firm had revenue of $360.52 million for the quarter, compared to analyst estimates of $298.63 million. The business’s revenue was up 101.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.83) EPS. Equities research analysts predict that PTC Therapeutics, Inc. will post 1.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PTCT has been the topic of a number of recent research reports. Weiss Ratings lowered PTC Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, September 17th. Cantor Fitzgerald raised their price target on shares of PTC Therapeutics from $130.00 to $137.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 22nd. Wall Street Zen upgraded shares of PTC Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 19th. Citigroup raised shares of PTC Therapeutics from a “neutral” rating to a “buy” rating and upped their price objective for the company from $75.00 to $108.00 in a report on Tuesday, June 9th. Finally, Barclays increased their price objective on shares of PTC Therapeutics from $120.00 to $122.00 and gave the stock an “overweight” rating in a research note on Friday, August 14th. One equities research 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 assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $99.08.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PTCT. Envestnet Portfolio Solutions Inc. boosted its position in PTC Therapeutics by 1.8% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 13,730 shares of the biopharmaceutical company’s stock worth $1,120,000 after purchasing an additional 237 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of PTC Therapeutics in the 2nd quarter valued at $211,000. Integrated Wealth Concepts LLC acquired a new position in shares of PTC Therapeutics in the 2nd quarter valued at $193,000. Baird Financial Group Inc. purchased a new stake in PTC Therapeutics during the second quarter worth $219,000. Finally, Empirical Finance LLC purchased a new stake in PTC Therapeutics during the second quarter worth $753,000.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for rare diseases. Its research programs use technologies designed to address genetic and molecular causes of disease, including RNA biology, protein translation and gene therapy.

The company’s commercial portfolio includes Emflaza (deflazacort), a corticosteroid approved in the United States to treat Duchenne muscular dystrophy, and Upstaza (eladocagene exuparvovec), a gene therapy for aromatic L-amino acid decarboxylase deficiency in eligible patients.