PTC Therapeutics, Inc. (NASDAQ:PTCT – Get Free Report) Director Michael Schmertzler sold 12,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $73.32, for a total value of $916,500.00. Following the completion of the sale, the director directly owned 1,374,094 shares in the company, valued at approximately $100,748,572.08. This represents a 0.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
PTC Therapeutics Stock Performance
Shares of PTC Therapeutics stock traded down $0.70 during midday trading on Friday, hitting $69.82. The company had a trading volume of 674,738 shares, compared to its average volume of 1,430,370. PTC Therapeutics, Inc. has a 52-week low of $48.28 and a 52-week high of $90.87. The stock has a market capitalization of $5.83 billion, a P/E ratio of -120.38, a P/E/G ratio of 2.27 and a beta of 0.56. The company has a 50 day moving average of $77.73 and a 200 day moving average of $72.37.
PTC Therapeutics (NASDAQ:PTCT – Get Free Report) last released its earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.24 by $0.68. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 3.80%.The business had revenue of $360.52 million for the quarter, compared to the consensus estimate of $298.63 million. During the same period in the previous year, the company posted ($0.83) earnings per share. The company’s revenue for the quarter was up 101.5% compared to the same quarter last year. Equities research analysts forecast that PTC Therapeutics, Inc. will post 1.17 EPS for the current year.
Institutional Investors Weigh In On PTC Therapeutics
Analyst Upgrades and Downgrades
Several analysts recently commented on the stock. Zacks Research downgraded shares of PTC Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. Jefferies Financial Group raised shares of PTC Therapeutics from a “hold” rating to a “buy” rating and lifted their target price for the stock from $76.00 to $85.00 in a report on Wednesday, May 27th. TD Cowen upgraded shares of PTC Therapeutics from a “hold” rating to a “buy” rating and upped their target price for the stock from $75.00 to $90.00 in a research note on Friday, May 8th. Weiss Ratings cut shares of PTC Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday. Finally, Wells Fargo & Company boosted their price objective on shares of PTC Therapeutics from $106.00 to $109.00 and gave the stock an “overweight” rating in a report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $98.55.
View Our Latest Stock Report on PTCT
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.
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