PTC Therapeutics (NASDAQ:PTCT) Director Emma Reeve Sells 10,000 Shares

PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Emma Reeve sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $79.50, for a total value of $795,000.00. Following the sale, the director owned 6,666 shares of the company’s stock, valued at approximately $529,947. This trade represents a 60.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Emma Reeve also recently made the following trade(s):

• On Wednesday, November 12th, Emma Reeve sold 7,333 shares of PTC Therapeutics stock. The stock was sold at an average price of $74.50, for a total transaction of $546,308.50.
• On Thursday, October 30th, Emma Reeve sold 15,666 shares of PTC Therapeutics stock. The shares were sold at an average price of $69.50, for a total transaction of $1,088,787.00.
• On Friday, October 3rd, Emma Reeve sold 25,562 shares of PTC Therapeutics stock. The stock was sold at an average price of $65.96, for a total transaction of $1,686,069.52.
• On Thursday, September 11th, Emma Reeve sold 15,705 shares of PTC Therapeutics stock. The shares were sold at an average price of $59.50, for a total transaction of $934,447.50.

PTC Therapeutics Trading Up 3.9%

PTCT stock opened at $82.93 on Wednesday. The firm has a 50-day moving average of $67.91 and a two-hundred day moving average of $56.23. PTC Therapeutics, Inc. has a 12 month low of $35.95 and a 12 month high of $85.62. The company has a market cap of $6.66 billion, a price-to-earnings ratio of 11.90 and a beta of 0.60.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.19) by $1.39. PTC Therapeutics had a negative return on equity of 106.31% and a net margin of 35.65%.The business had revenue of $211.01 million during the quarter, compared to analyst estimates of $177.42 million. During the same period in the prior year, the business earned ($1.39) earnings per share. The business’s revenue was up 7.2% compared to the same quarter last year. PTC Therapeutics has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current year.

Hedge Funds Weigh In On PTC Therapeutics

Several hedge funds have recently bought and sold shares of the company. Ameritas Investment Partners Inc. grew its position in PTC Therapeutics by 3.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,936 shares of the biopharmaceutical company’s stock valued at $388,000 after acquiring an additional 231 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of PTC Therapeutics by 101.3% in the third quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 236 shares in the last quarter. Optiver Holding B.V. increased its stake in PTC Therapeutics by 96.5% during the 3rd quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock worth $31,000 after buying an additional 249 shares during the period. 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 worth $49,000 after buying an additional 295 shares in the last quarter. Finally, Arizona State Retirement System lifted its holdings in PTC Therapeutics by 2.0% during the 3rd quarter. Arizona State Retirement System now owns 21,101 shares of the biopharmaceutical company’s stock worth $1,295,000 after buying an additional 406 shares in the last quarter.

Analyst Ratings Changes

PTCT has been the topic of several analyst reports. Truist Financial lifted their price target on PTC Therapeutics from $80.00 to $86.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. Wall Street Zen upgraded shares of PTC Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $118.00 price target on shares of PTC Therapeutics in a research note on Wednesday, September 3rd. Wells Fargo & Company lifted their price target on shares of PTC Therapeutics from $73.00 to $93.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. Finally, Bank of America decreased their price objective on PTC Therapeutics from $82.00 to $76.00 and set a “buy” rating on the stock in a report on Wednesday, August 20th. Ten analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $75.40.

About PTC Therapeutics

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.