PTC Therapeutics (NASDAQ:PTCT) Director Michael Schmertzler Sells 2,500 Shares of Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Michael Schmertzler sold 2,500 shares of the firm’s stock in a transaction on Wednesday, October 14th. The stock was sold at an average price of $59.61, for a total transaction of $149,025.00. Following the completion of the sale, the director directly owned 1,291,594 shares in the company, valued at approximately $76,991,918.34. This trade represents a 0.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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, October 7th, Michael Schmertzler sold 2,500 shares of PTC Therapeutics stock. The stock was sold at an average price of $63.39, for a total value of $158,475.00.
• On Wednesday, September 16th, Michael Schmertzler sold 10,000 shares of PTC Therapeutics stock. The shares were sold at an average price of $67.12, for a total transaction of $671,200.00.
• 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 transaction 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 Down 2.9%

Shares of NASDAQ:PTCT traded down $1.75 during midday trading on Friday, reaching $59.24. The company’s stock had a trading volume of 788,962 shares, compared to its average volume of 1,366,055. The firm has a 50 day moving average of $67.69 and a 200-day moving average of $71.82. The firm has a market capitalization of $4.94 billion, a P/E ratio of -102.14, a PEG ratio of 1.80 and a beta of 0.49. PTC Therapeutics, Inc. has a 12-month low of $58.80 and a 12-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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.68. The business had revenue of $360.52 million during the quarter, compared to the consensus estimate of $298.63 million. During the same quarter in the previous year, the business earned ($0.83) earnings per share. The firm’s revenue was up 101.5% compared to the same quarter last year. On average, research analysts predict that PTC Therapeutics, Inc. will post 1.19 EPS for the current year.

Institutional Investors Weigh In On PTC Therapeutics

Several institutional investors have recently modified their holdings of the business. BlackRock Inc. bought a new stake in PTC Therapeutics in the 2nd quarter worth about $1,139,089,000. Jupiter Topco LLC bought a new position in PTC Therapeutics during the 2nd quarter valued at about $590,182,000. Janus Henderson Group PLC lifted its stake in PTC Therapeutics by 48.3% during the 1st quarter. Janus Henderson Group PLC now owns 7,193,433 shares of the biopharmaceutical company’s stock valued at $489,997,000 after acquiring an additional 2,342,101 shares during the period. Wellington Management Group LLP boosted its holdings in shares of PTC Therapeutics by 4.7% during the 2nd quarter. Wellington Management Group LLP now owns 4,128,273 shares of the biopharmaceutical company’s stock valued at $336,743,000 after acquiring an additional 185,663 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of PTC Therapeutics by 31.8% during the 1st quarter. Bank of America Corp DE now owns 1,886,841 shares of the biopharmaceutical company’s stock valued at $128,550,000 after acquiring an additional 455,284 shares during the last quarter.

Analyst Upgrades and Downgrades

PTCT has been the subject of a number of analyst reports. UBS Group reaffirmed a “buy” rating and set a $90.00 target price (up from $80.00) on shares of PTC Therapeutics in a research note on Thursday. Leerink Partners assumed coverage on shares of PTC Therapeutics in a report on Monday, September 14th. They set an “outperform” rating and a $98.00 target price for the company. Royal Bank Of Canada dropped their price target on PTC Therapeutics from $85.00 to $75.00 and set a “sector perform” rating on the stock in a research report on Wednesday, October 7th. Morgan Stanley upped their price target on PTC Therapeutics from $93.00 to $104.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Finally, Weiss Ratings raised PTC Therapeutics from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, October 8th. Eleven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $95.07.

About PTC Therapeutics

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.