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

PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Michael Schmertzler sold 2,500 shares of the business’s stock in a transaction dated Wednesday, October 7th. The shares were sold at an average price of $63.39, for a total transaction of $158,475.00. Following the transaction, the director owned 1,294,094 shares in the company, valued at $82,032,618.66. This represents a 0.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michael Schmertzler also recently made the following trade(s):

• On Wednesday, September 16th, Michael Schmertzler sold 10,000 shares of PTC Therapeutics stock. The stock was 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 value 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 Up 3.4%

NASDAQ PTCT opened at $64.70 on Friday. PTC Therapeutics, Inc. has a twelve month low of $61.23 and a twelve month high of $90.87. The firm has a market capitalization of $5.40 billion, a PE ratio of -111.55, a P/E/G ratio of 1.93 and a beta of 0.49. The stock’s 50 day moving average is $68.37 and its 200 day moving average is $71.92.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.68. The firm had revenue of $360.52 million during the quarter, compared to the consensus estimate of $298.63 million. PTC Therapeutics’s revenue for the quarter was up 101.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.83) EPS. On average, research analysts anticipate that PTC Therapeutics, Inc. will post 1.17 earnings per share for the current year.

Institutional Trading of PTC Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of PTCT. Allworth Financial LP purchased a new position in PTC Therapeutics in the second quarter worth about $67,000. EverSource Wealth Advisors LLC grew its holdings in shares of PTC Therapeutics by 16.9% during the first quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the biopharmaceutical company’s stock valued at $71,000 after buying an additional 151 shares during the last quarter. Harbor Investment Advisory LLC bought a new stake in shares of PTC Therapeutics during the second quarter valued at approximately $81,000. Quantbot Technologies LP bought a new stake in shares of PTC Therapeutics during the second quarter valued at approximately $112,000. Finally, GAMMA Investing LLC raised its holdings in PTC Therapeutics by 58.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,453 shares of the biopharmaceutical company’s stock worth $119,000 after acquiring an additional 534 shares during the last quarter.

Wall Street Analysts Forecast Growth

PTCT has been the subject of a number of recent research reports. Leerink Partners began coverage on shares of PTC Therapeutics in a research report on Monday, September 14th. They set an “outperform” rating and a $98.00 price target for the company. Barclays upped their price objective on shares of PTC Therapeutics from $120.00 to $122.00 and gave the stock an “overweight” rating in a report on Friday, August 14th. Wells Fargo & Company raised their target price on shares of PTC Therapeutics from $106.00 to $109.00 and gave the company an “overweight” rating in a research note on Thursday, August 13th. Weiss Ratings upgraded shares of PTC Therapeutics from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday. Finally, Morgan Stanley boosted their price target on PTC Therapeutics from $93.00 to $104.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $98.25.

PTC Therapeutics Company Profile

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.