Insider Selling: PTC Therapeutics (NASDAQ:PTCT) CAO Sells $106,267.95 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) CAO Christine Marie Utter sold 1,381 shares of the firm’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $76.95, for a total transaction of $106,267.95. Following the sale, the chief accounting officer owned 74,962 shares in the company, valued at approximately $5,768,325.90. This trade represents a 1.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Christine Marie Utter also recently made the following trade(s):

• On Wednesday, January 7th, Christine Marie Utter sold 1,235 shares of PTC Therapeutics stock. The stock was sold at an average price of $77.45, for a total value of $95,650.75.

PTC Therapeutics Stock Down 0.5%

Shares of NASDAQ:PTCT traded down $0.39 during midday trading on Thursday, reaching $76.85. The company’s stock had a trading volume of 1,625,361 shares, compared to its average volume of 1,684,365. The firm has a market cap of $6.17 billion, a price-to-earnings ratio of 8.98 and a beta of 0.49. The business has a 50 day moving average price of $76.26 and a 200 day moving average price of $62.43. PTC Therapeutics, Inc. has a 1 year low of $35.95 and a 1 year high of $87.50.

PTC Therapeutics (NASDAQ:PTCT) last released its earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, topping the consensus estimate of ($1.19) by $1.39. The firm had revenue of $211.01 million for the quarter, compared to the consensus estimate of $177.42 million. PTC Therapeutics had a negative return on equity of 194.11% and a net margin of 42.25%.The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($1.39) earnings per share. Sell-side analysts anticipate that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PTC Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Smartleaf Asset Management LLC grew its position in 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 position in shares of 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 purchasing an additional 249 shares in the last quarter. Comerica Bank boosted its stake in shares of PTC Therapeutics by 868.5% in the third quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 469 shares during the period. IFP Advisors Inc grew its holdings in PTC Therapeutics by 68.1% during the 3rd quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 310 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in PTC Therapeutics by 42.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 995 shares of the biopharmaceutical company’s stock worth $49,000 after buying an additional 295 shares during the period.

Wall Street Analysts Forecast Growth

PTCT has been the subject of a number of research analyst reports. Royal Bank Of Canada downgraded PTC Therapeutics from an “outperform” rating to a “sector perform” rating and upped their price objective for the stock from $82.00 to $91.00 in a report on Monday, December 1st. Wall Street Zen upgraded PTC Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, January 3rd. Cowen reaffirmed a “hold” rating on shares of PTC Therapeutics in a research note on Wednesday, November 5th. Jefferies Financial Group increased their target price on shares of PTC Therapeutics from $63.00 to $77.00 and gave the stock a “buy” rating in a research report on Tuesday, October 28th. Finally, Barclays lifted their price target on shares of PTC Therapeutics from $46.00 to $68.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 5th. Nine research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, PTC Therapeutics presently has an average rating of “Hold” and a consensus target price of $77.27.

PTC Therapeutics News Roundup

Here are the key news stories impacting PTC Therapeutics this week:

• Positive Sentiment: Recent fundamentals still supportive — PTC reported an earnings and revenue beat in its last quarter (Nov.) and maintains strong margins relative to peers, which underpins the stock’s valuation and analyst interest. MarketBeat PTCT profile
• Neutral Sentiment: Small inducement grant: the company approved 300 restricted stock units for a new non?executive employee on Jan. 2 — immaterial dilution and likely not a major near?term driver. PR Newswire: Inducement Grants
• Neutral Sentiment: Analyst consensus is a “Hold” with a mixed set of price targets and ratings — this produces limited conviction among buy?side actors and can temper short?term moves. Analyst consensus report
• Negative Sentiment: Heavy insider selling disclosed in multiple Form 4s — several executives and directors (including the CEO, CFO, EVP, VPs and others) sold several tens of thousands of shares across Jan. 6–7 at ~\$77 per share, representing millions of dollars of proceeds. Collective insider sales at this scale can put near?term downward pressure on the stock and signal to some investors that insiders are taking gains. The filings and aggregated alert are here for review. InsiderTrades: Jan. insider sales alert

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.