Matthew Klein Sells 10,292 Shares of PTC Therapeutics (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Matthew Klein sold 10,292 shares of the business’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $68.57, for a total transaction of $705,722.44. Following the completion of the sale, the chief executive officer directly owned 383,868 shares of the company’s stock, valued at approximately $26,321,828.76. This trade represents a 2.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

PTC Therapeutics Stock Performance

Shares of NASDAQ PTCT opened at $73.31 on Friday. The firm has a market capitalization of $6.12 billion, a price-to-earnings ratio of -126.40, a PEG ratio of 2.19 and a beta of 0.56. The stock has a 50 day moving average price of $77.54 and a 200 day moving average price of $72.55. PTC Therapeutics, Inc. has a 52-week low of $43.17 and a 52-week high of $90.87.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.24 by $0.68. The company had revenue of $360.52 million for the quarter, compared to the consensus estimate of $298.63 million. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 3.80%.PTC Therapeutics’s quarterly revenue was up 101.5% on a year-over-year basis. During the same period last year, the business posted ($0.83) EPS. Analysts forecast that PTC Therapeutics, Inc. will post 1.17 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Citigroup upgraded PTC Therapeutics from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $75.00 to $108.00 in a report on Tuesday, June 9th. Zacks Research raised shares of PTC Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. Morgan Stanley boosted their price target on shares of PTC Therapeutics from $93.00 to $104.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Raymond James Financial initiated coverage on shares of PTC Therapeutics in a research note on Friday, April 10th. They set an “outperform” rating and a $108.00 price objective on the stock. Finally, Jefferies Financial Group raised shares of PTC Therapeutics from a “hold” rating to a “buy” rating and lifted their price objective for the company from $76.00 to $85.00 in a report on Wednesday, May 27th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, PTC Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $98.09.

Hedge Funds Weigh In On PTC Therapeutics

A number of large investors have recently added to or reduced their stakes in PTCT. BlackRock Inc. bought a new stake in shares of PTC Therapeutics in the 2nd quarter valued at about $1,139,089,000. Vanguard Group Inc. lifted its position in PTC Therapeutics by 6.2% during the fourth quarter. Vanguard Group Inc. now owns 8,803,203 shares of the biopharmaceutical company’s stock valued at $668,691,000 after acquiring an additional 514,204 shares during the last quarter. Janus Henderson Group PLC boosted 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 in the last quarter. Wellington Management Group LLP grew 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 during the last quarter. Finally, State Street Corp increased its position in shares of PTC Therapeutics by 34.2% during 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.

PTC Therapeutics Company Profile

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.