PTC Therapeutics, Inc. (NASDAQ:PTCT – Get Free Report) Director Michael Schmertzler sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $67.84, for a total transaction of $678,400.00. Following the completion of the sale, the director directly owned 1,326,594 shares in the company, valued at approximately $89,996,136.96. This trade represents a 0.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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, August 26th, Michael Schmertzler sold 12,500 shares of PTC Therapeutics stock. The shares were sold at an average price of $72.94, for a total transaction of $911,750.00.
- On Wednesday, August 19th, Michael Schmertzler sold 12,500 shares of PTC Therapeutics stock. The stock was sold at an average price of $73.32, for a total transaction of $916,500.00.
PTC Therapeutics Stock Performance
PTC Therapeutics stock traded down $1.31 during mid-day trading on Friday, reaching $66.06. The company’s stock had a trading volume of 792,872 shares, compared to its average volume of 1,379,925. PTC Therapeutics, Inc. has a 12-month low of $57.74 and a 12-month high of $90.87. The company has a market capitalization of $5.51 billion, a P/E ratio of -113.90, a PEG ratio of 2.08 and a beta of 0.55. The firm’s fifty day moving average price is $74.70 and its two-hundred day moving average price is $72.22.
Analyst Ratings Changes
A number of analysts recently issued reports on PTCT shares. Jefferies Financial Group upgraded PTC Therapeutics from a “hold” rating to a “buy” rating and boosted their price objective for the company from $76.00 to $85.00 in a research note on Wednesday, May 27th. Royal Bank Of Canada raised their target price on PTC Therapeutics from $82.00 to $85.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 7th. Weiss Ratings raised PTC Therapeutics from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, September 1st. Barclays upped their price target on PTC Therapeutics from $120.00 to $122.00 and gave the company an “overweight” rating in a research report on Friday, August 14th. Finally, Citigroup raised shares of PTC Therapeutics from a “neutral” rating to a “buy” rating and increased their price target for the stock from $75.00 to $108.00 in a report on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $98.55.
Check Out Our Latest Research Report on PTC Therapeutics
Hedge Funds Weigh In On PTC Therapeutics
Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in shares of PTC Therapeutics during the 2nd quarter valued at $1,139,089,000. Jupiter Topco LLC purchased a new position in PTC Therapeutics in the second quarter worth $590,182,000. California State Teachers Retirement System grew its position in PTC Therapeutics by 7,806.7% in the second quarter. California State Teachers Retirement System now owns 6,666,961 shares of the biopharmaceutical company’s stock worth $543,824,000 after acquiring an additional 6,582,641 shares in the last quarter. Janus Henderson Group PLC increased its stake 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 valued at $489,997,000 after acquiring an additional 2,342,101 shares during the last quarter. Finally, William Blair Investment Management LLC bought a new position in PTC Therapeutics in the second quarter valued at $140,520,000.
PTC Therapeutics Company Profile
PTC Therapeutics, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for rare diseases. The company uses technologies involving RNA biology, gene therapy and small-molecule drug discovery to address conditions with limited treatment options, including rare neurological and metabolic disorders.
PTC’s commercial portfolio has included Translarna (ataluren), an investigational treatment in some markets for Duchenne muscular dystrophy associated with a nonsense mutation, and Emflaza (deflazacort), a corticosteroid approved in the United States for Duchenne muscular dystrophy.
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