Mary Smith Sells 15,834 Shares of PTC Therapeutics (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Mary Smith sold 15,834 shares of PTC Therapeutics stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $90.00, for a total transaction of $1,425,060.00. Following the sale, the director owned 21,813 shares in the company, valued at approximately $1,963,170. This trade represents a 42.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PTC Therapeutics Stock Down 4.0%

NASDAQ:PTCT opened at $78.06 on Wednesday. The firm has a market capitalization of $6.48 billion, a PE ratio of -33.50, a price-to-earnings-growth ratio of 3.74 and a beta of 0.53. PTC Therapeutics, Inc. has a 12-month low of $43.17 and a 12-month high of $90.87. The firm has a 50-day moving average price of $76.15 and a 200 day moving average price of $72.75.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.42. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 22.58%.The company had revenue of $272.55 million for the quarter, compared to the consensus estimate of $217.42 million. During the same period in the previous year, the business earned $10.04 earnings per share. The company’s quarterly revenue was up 43.5% on a year-over-year basis. On average, research analysts expect that PTC Therapeutics, Inc. will post 0.78 EPS for the current year.

Institutional Investors Weigh In On PTC Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. UMB Bank n.a. bought a new stake in shares of PTC Therapeutics during the fourth quarter worth $26,000. Comerica Bank raised its holdings 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 buying an additional 469 shares during the last quarter. Salomon & Ludwin LLC bought a new position in shares of PTC Therapeutics in the fourth quarter valued at about $41,000. IFP Advisors Inc lifted its position in PTC Therapeutics by 68.1% during the 3rd quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock worth $47,000 after buying an additional 310 shares in the last quarter. Finally, Allworth Financial LP lifted its position in PTC Therapeutics by 63.8% during the 4th quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company’s stock worth $48,000 after buying an additional 247 shares in the last quarter.

Analysts Set New Price Targets

Several research firms have issued reports on PTCT. Jefferies Financial Group upgraded PTC Therapeutics from a “hold” rating to a “buy” rating and increased their price objective for the stock from $76.00 to $85.00 in a research note on Wednesday, May 27th. Citigroup upgraded shares of PTC Therapeutics from a “neutral” rating to a “buy” rating and boosted their target price for the company from $75.00 to $108.00 in a research note on Tuesday, June 9th. Royal Bank Of Canada upped their target price on shares of PTC Therapeutics from $82.00 to $85.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 7th. Weiss Ratings cut shares of PTC Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Finally, TD Cowen raised shares of PTC Therapeutics from a “hold” rating to a “buy” rating and lifted their price target for the company from $75.00 to $90.00 in a report on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $91.57.

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.