Stephanie Okey Sells 15,167 Shares of PTC Therapeutics (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Stephanie Okey sold 15,167 shares of the company’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $70.00, for a total transaction of $1,061,690.00. Following the transaction, the director owned 8,000 shares of the company’s stock, valued at approximately $560,000. This trade represents a 65.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Stephanie Okey also recently made the following trade(s):

• On Thursday, March 5th, Stephanie Okey sold 6,333 shares of PTC Therapeutics stock. The stock was sold at an average price of $63.38, for a total transaction of $401,385.54.

PTC Therapeutics Trading Down 3.5%

NASDAQ:PTCT traded down $2.31 during trading hours on Thursday, hitting $63.36. The company had a trading volume of 1,050,445 shares, compared to its average volume of 1,297,072. PTC Therapeutics, Inc. has a 1 year low of $35.95 and a 1 year high of $87.50. The company has a 50-day moving average of $72.23 and a 200 day moving average of $69.69. The company has a market cap of $5.24 billion, a P/E ratio of 8.19 and a beta of 0.51.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($1.67) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($1.46). PTC Therapeutics had a negative return on equity of 362.45% and a net margin of 39.44%.The business had revenue of $164.68 million during the quarter, compared to analysts’ expectations of $281.45 million. During the same quarter in the previous year, the company posted ($0.85) earnings per share. The company’s revenue was down 22.7% on a year-over-year basis. On average, analysts forecast that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current year.

Institutional Trading of PTC Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of PTCT. Jefferies Financial Group Inc. acquired a new stake in shares of PTC Therapeutics in the 3rd quarter worth about $97,252,000. Janus Henderson Group PLC lifted its position in shares of PTC Therapeutics by 28.6% during the 4th quarter. Janus Henderson Group PLC now owns 4,851,332 shares of the biopharmaceutical company’s stock valued at $368,587,000 after acquiring an additional 1,077,776 shares during the last quarter. State Street Corp boosted its position in shares of PTC Therapeutics by 34.2% in the 4th quarter. State Street Corp now owns 4,206,126 shares of the biopharmaceutical company’s stock valued at $319,497,000 after purchasing an additional 1,071,343 shares during the period. Toronto Dominion Bank boosted its holdings in shares of PTC Therapeutics by 27.5% in the fourth quarter. Toronto Dominion Bank now owns 4,138,215 shares of the biopharmaceutical company’s stock worth $314,339,000 after buying an additional 891,690 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in PTC Therapeutics by 4,013.1% in the 4th quarter. BNP Paribas Financial Markets now owns 828,662 shares of the biopharmaceutical company’s stock worth $62,945,000 after purchasing an additional 808,515 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PTCT. Cantor Fitzgerald reissued an “overweight” rating on shares of PTC Therapeutics in a research report on Friday, February 20th. TD Cowen restated a “hold” rating on shares of PTC Therapeutics in a research report on Thursday, January 29th. Wall Street Zen lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Barclays restated an “overweight” rating and issued a $120.00 price target on shares of PTC Therapeutics in a report on Monday, February 23rd. Finally, Morgan Stanley increased their price target on shares of PTC Therapeutics from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, February 23rd. Ten investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $82.79.

About PTC Therapeutics

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.