PTC Therapeutics (NASDAQ:PTCT) Insider Sells $1,595,775.00 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCTGet Free Report) insider Eric Pauwels sold 21,277 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $75.00, for a total value of $1,595,775.00. Following the completion of the sale, the insider directly owned 73,411 shares of the company’s stock, valued at $5,505,825. The trade was a 22.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PTC Therapeutics Stock Performance

NASDAQ PTCT traded up $0.43 on Friday, hitting $75.14. 1,074,600 shares of the stock were exchanged, compared to its average volume of 1,252,793. The stock has a fifty day moving average price of $70.41 and a two-hundred day moving average price of $72.15. The firm has a market capitalization of $6.23 billion, a P/E ratio of -32.25, a P/E/G ratio of 5.04 and a beta of 0.56. PTC Therapeutics, Inc. has a 52-week low of $43.17 and a 52-week high of $87.50.

PTC Therapeutics (NASDAQ:PTCTGet Free Report) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.42. The company had revenue of $272.55 million during the quarter, compared to analyst estimates of $217.42 million. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. PTC Therapeutics’s quarterly revenue was up 43.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $10.04 earnings per share. Sell-side analysts expect that PTC Therapeutics, Inc. will post 0.53 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PTCT has been the subject of a number of recent analyst reports. Citigroup raised 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. Barclays reaffirmed an “overweight” rating and issued a $120.00 price target on shares of PTC Therapeutics in a research report on Monday, February 23rd. Wells Fargo & Company increased their price objective on shares of PTC Therapeutics from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Weiss Ratings downgraded shares of PTC Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of PTC Therapeutics in a report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $91.36.

Check Out Our Latest Analysis on PTC Therapeutics

Hedge Funds Weigh In On PTC Therapeutics

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in PTC Therapeutics by 6.2% in the fourth quarter. Vanguard Group Inc. now owns 8,803,203 shares of the biopharmaceutical company’s stock worth $668,691,000 after purchasing an additional 514,204 shares in the last quarter. Janus Henderson Group PLC raised its holdings in PTC Therapeutics by 48.3% in the first quarter. Janus Henderson Group PLC now owns 7,193,433 shares of the biopharmaceutical company’s stock worth $489,997,000 after purchasing an additional 2,342,101 shares in the last quarter. Wellington Management Group LLP raised its holdings in PTC Therapeutics by 4.8% in the third quarter. Wellington Management Group LLP now owns 4,918,619 shares of the biopharmaceutical company’s stock worth $301,856,000 after purchasing an additional 224,481 shares in the last quarter. State Street Corp raised its holdings in PTC Therapeutics by 34.2% in the fourth quarter. State Street Corp now owns 4,206,126 shares of the biopharmaceutical company’s stock worth $319,497,000 after purchasing an additional 1,071,343 shares in the last quarter. Finally, Toronto Dominion Bank raised its holdings in 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 purchasing an additional 891,690 shares in the last quarter.

About PTC Therapeutics

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for PTC Therapeutics (NASDAQ:PTCT)

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