PTC Therapeutics, Inc. (NASDAQ:PTCT – Get Free Report) Director Michael Schmertzler sold 10,000 shares of the company’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $67.12, for a total value of $671,200.00. Following the sale, the director owned 1,306,594 shares in the company, valued at approximately $87,698,589.28. The trade was a 0.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 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 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 Trading Down 3.9%
PTC Therapeutics stock traded down $2.63 during midday trading on Friday, reaching $65.37. The stock had a trading volume of 3,864,982 shares, compared to its average volume of 1,388,480. PTC Therapeutics, Inc. has a 12 month low of $57.74 and a 12 month high of $90.87. The company has a fifty day moving average price of $72.66 and a two-hundred day moving average price of $72.15. The company has a market capitalization of $5.46 billion, a P/E ratio of -112.71, a PEG ratio of 2.09 and a beta of 0.55.
Hedge Funds Weigh In On PTC Therapeutics
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tidal Investments LLC purchased a new stake in shares of PTC Therapeutics during the 2nd quarter valued at $211,000. Integrated Wealth Concepts LLC purchased a new position in PTC Therapeutics in the second quarter worth $193,000. Baird Financial Group Inc. bought a new position in PTC Therapeutics in the second quarter valued at $219,000. Empirical Finance LLC purchased a new stake in PTC Therapeutics during the second quarter valued at about $753,000. Finally, Nykredit A S bought a new stake in PTC Therapeutics during the second quarter worth about $263,000.
Analyst Ratings Changes
Several research analysts have commented on the company. Wall Street Zen downgraded PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 22nd. Morgan Stanley increased their price target on shares of PTC Therapeutics from $93.00 to $104.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Cantor Fitzgerald raised their price objective on shares of PTC Therapeutics from $124.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. 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. Finally, Leerink Partners started coverage on shares of PTC Therapeutics in a research note on Monday. They issued an “outperform” rating and a $98.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $98.50.
Check Out Our Latest Research Report on PTC Therapeutics
About PTC Therapeutics
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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