Matthew B. Klein Sells 3,361 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Matthew B. Klein sold 3,361 shares of the firm’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $24.89, for a total value of $83,655.29. Following the completion of the transaction, the chief executive officer now owns 225,807 shares of the company’s stock, valued at approximately $5,620,336.23. The sale was disclosed in a document filed with the SEC, which is available through this link.

PTC Therapeutics Trading Down 2.2 %

Shares of PTCT stock opened at $25.41 on Wednesday. PTC Therapeutics, Inc. has a 12 month low of $17.53 and a 12 month high of $59.84. The stock has a market capitalization of $1.95 billion, a P/E ratio of -3.04 and a beta of 0.67. The firm’s 50 day moving average is $28.10 and its 200 day moving average is $25.74.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Thursday, February 29th. The biopharmaceutical company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.53). The firm had revenue of $307.06 million for the quarter, compared to analysts’ expectations of $315.90 million. On average, equities analysts predict that PTC Therapeutics, Inc. will post -5.94 EPS for the current year.

Wall Street Analyst Weigh In

PTCT has been the subject of several analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price objective on shares of PTC Therapeutics in a report on Friday, April 12th. Jefferies Financial Group raised their price objective on PTC Therapeutics from $33.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. TD Cowen decreased their price objective on PTC Therapeutics from $32.00 to $30.00 and set a “market perform” rating for the company in a report on Friday, March 1st. Finally, Royal Bank of Canada raised their target price on shares of PTC Therapeutics from $22.00 to $28.00 and gave the company a “sector perform” rating in a research note on Friday, March 1st. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $33.53.

Hedge Funds Weigh In On PTC Therapeutics

Several institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP lifted its position in PTC Therapeutics by 4.0% during the fourth quarter. Wellington Management Group LLP now owns 9,816,603 shares of the biopharmaceutical company’s stock valued at $270,546,000 after purchasing an additional 380,415 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of PTC Therapeutics by 10.8% in the fourth quarter. Vanguard Group Inc. now owns 8,800,843 shares of the biopharmaceutical company’s stock valued at $242,551,000 after acquiring an additional 855,354 shares during the period. RTW Investments LP increased its stake in PTC Therapeutics by 2.6% in the 4th quarter. RTW Investments LP now owns 7,423,970 shares of the biopharmaceutical company’s stock worth $204,605,000 after buying an additional 188,774 shares during the period. Armistice Capital LLC increased its stake in PTC Therapeutics by 11.6% in the 4th quarter. Armistice Capital LLC now owns 6,864,000 shares of the biopharmaceutical company’s stock worth $189,172,000 after buying an additional 714,000 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its stake in PTC Therapeutics by 10.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,122,698 shares of the biopharmaceutical company’s stock worth $25,160,000 after buying an additional 104,024 shares during the period.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders in the United States and internationally. The company offers Translarna and Emflaza for the treatment of Duchenne muscular dystrophy; Upstaza to treat aromatic l-amino acid decarboxylas (AADC) deficiency, a central nervous system disorder; Tegsedi and Waylivra for the treatment of rare diseases; and Evrysdi to treat spinal muscular atrophy (SMA) in adults and children.