Emma Reeve Sells 734 Shares of PTC Therapeutics (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Emma Reeve sold 734 shares of PTC Therapeutics stock in a transaction on Monday, January 5th. The shares were sold at an average price of $76.00, for a total transaction of $55,784.00. Following the completion of the sale, the director owned 10,666 shares of the company’s stock, valued at $810,616. This represents a 6.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Emma Reeve also recently made the following trade(s):

• On Wednesday, December 3rd, Emma Reeve sold 733 shares of PTC Therapeutics stock. The stock was sold at an average price of $78.62, for a total transaction of $57,628.46.
• On Friday, November 21st, Emma Reeve sold 10,000 shares of PTC Therapeutics stock. The shares were sold at an average price of $79.50, for a total transaction of $795,000.00.
• On Wednesday, November 12th, Emma Reeve sold 7,333 shares of PTC Therapeutics stock. The shares were sold at an average price of $74.50, for a total transaction of $546,308.50.
• On Thursday, October 30th, Emma Reeve sold 15,666 shares of PTC Therapeutics stock. The shares were sold at an average price of $69.50, for a total value of $1,088,787.00.

PTC Therapeutics Price Performance

Shares of PTC Therapeutics stock opened at $77.24 on Thursday. The business has a 50-day simple moving average of $76.26 and a 200 day simple moving average of $62.43. PTC Therapeutics, Inc. has a one year low of $35.95 and a one year high of $87.50. The firm has a market capitalization of $6.20 billion, a price-to-earnings ratio of 9.02 and a beta of 0.49.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.19) by $1.39. PTC Therapeutics had a negative return on equity of 194.11% and a net margin of 42.25%.The business had revenue of $211.01 million for the quarter, compared to analyst estimates of $177.42 million. During the same quarter in the prior year, the company earned ($1.39) earnings per share. The company’s quarterly revenue was up 7.2% on a year-over-year basis. On average, sell-side analysts expect that PTC Therapeutics, Inc. will post -4.52 EPS for the current year.

Institutional Investors Weigh In On PTC Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its holdings in shares of PTC Therapeutics by 101.3% in the third quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 236 shares in the last quarter. Optiver Holding B.V. lifted its holdings in PTC Therapeutics by 96.5% during the third quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 249 shares during the period. Comerica Bank boosted its position in 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 purchasing an additional 469 shares during the last quarter. IFP Advisors Inc boosted its position in PTC Therapeutics by 68.1% in the third quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 310 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in PTC Therapeutics by 42.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 995 shares of the biopharmaceutical company’s stock valued at $49,000 after purchasing an additional 295 shares during the period.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PTCT shares. The Goldman Sachs Group lifted their price target on shares of PTC Therapeutics from $44.00 to $50.00 and gave the company a “sell” rating in a research report on Wednesday, November 5th. Citigroup lifted their price objective on shares of PTC Therapeutics from $50.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, November 5th. Royal Bank Of Canada downgraded shares of PTC Therapeutics from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from $82.00 to $91.00 in a research report on Monday, December 1st. Cowen reaffirmed a “hold” rating on shares of PTC Therapeutics in a research report on Wednesday, November 5th. Finally, Barclays lifted their price target on PTC Therapeutics from $46.00 to $68.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 5th. Nine research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, PTC Therapeutics has an average rating of “Hold” and an average target price of $76.00.

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.