PTC Therapeutics (NASDAQ:PTCT) CEO Sells $619,940.96 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Matthew Klein sold 8,089 shares of the firm’s stock in a transaction dated Tuesday, December 30th. The shares were sold at an average price of $76.64, for a total value of $619,940.96. Following the transaction, the chief executive officer owned 341,875 shares of the company’s stock, valued at approximately $26,201,300. The trade was a 2.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

PTC Therapeutics Trading Up 1.0%

Shares of PTC Therapeutics stock opened at $76.74 on Monday. The firm has a market cap of $6.16 billion, a PE ratio of 8.96 and a beta of 0.49. The stock has a 50 day moving average of $75.68 and a 200 day moving average of $61.95. PTC Therapeutics, Inc. has a 12 month low of $35.95 and a 12 month high of $87.50.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.19) by $1.39. PTC Therapeutics had a negative return on equity of 194.11% and a net margin of 42.25%.The business had revenue of $211.01 million for the quarter, compared to analysts’ expectations of $177.42 million. During the same period in the prior year, the firm earned ($1.39) EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, equities research analysts forecast that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PTCT has been the subject of several recent research reports. Wall Street Zen upgraded PTC Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday. TD Cowen lifted their target price on PTC Therapeutics from $50.00 to $63.00 and gave the stock a “hold” rating in a report on Wednesday, November 5th. Citigroup boosted their target price on PTC Therapeutics from $50.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. Weiss Ratings restated a “hold (c)” rating on shares of PTC Therapeutics in a research report on Monday, December 29th. Finally, Barclays lifted their price objective on shares of PTC Therapeutics from $46.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 5th. Nine analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, PTC Therapeutics presently has an average rating of “Hold” and a consensus price target of $76.00.

Hedge Funds Weigh In On PTC Therapeutics

A number of large investors have recently bought and sold shares of the business. Smartleaf Asset Management LLC grew its position in PTC Therapeutics by 101.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 236 shares during the last quarter. Optiver Holding B.V. grew its holdings in shares of PTC Therapeutics by 96.5% in the third quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 249 shares during the last quarter. Comerica Bank increased its stake in PTC Therapeutics by 868.5% in the 3rd quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 469 shares during the period. IFP Advisors Inc lifted its holdings in PTC Therapeutics by 68.1% during the 3rd quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock valued at $47,000 after buying an additional 310 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in PTC Therapeutics by 42.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 995 shares of the biopharmaceutical company’s stock valued at $49,000 after buying an additional 295 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.