PTC Therapeutics (NASDAQ:PTCT) Director Michael Schmertzler Sells 2,500 Shares of Company Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Michael Schmertzler sold 2,500 shares of PTC Therapeutics stock in a transaction that occurred on Wednesday, October 14th. The stock was sold at an average price of $59.61, for a total value of $149,025.00. Following the sale, the director directly owned 1,291,594 shares of the company’s stock, valued at approximately $76,991,918.34. The trade was a 0.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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, October 7th, Michael Schmertzler sold 2,500 shares of PTC Therapeutics stock. The shares were sold at an average price of $63.39, for a total value of $158,475.00.
• On Wednesday, September 16th, Michael Schmertzler sold 10,000 shares of PTC Therapeutics stock. The shares were sold at an average price of $67.12, for a total value of $671,200.00.
• 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 value 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 value of $916,500.00.

PTC Therapeutics Stock Down 2.9%

Shares of PTC Therapeutics stock traded down $1.75 during trading on Friday, reaching $59.24. The company’s stock had a trading volume of 788,962 shares, compared to its average volume of 1,319,208. The business’s 50-day moving average price is $67.41 and its 200-day moving average price is $71.73. The firm has a market cap of $4.94 billion, a PE ratio of -102.14, a P/E/G ratio of 1.84 and a beta of 0.49. PTC Therapeutics, Inc. has a 52 week low of $58.80 and a 52 week high of $90.87.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.24 by $0.68. The business had revenue of $360.52 million during the quarter, compared to analyst estimates of $298.63 million. During the same quarter last year, the company posted ($0.83) earnings per share. The company’s revenue was up 101.5% on a year-over-year basis. Equities analysts predict that PTC Therapeutics, Inc. will post 1.19 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PTCT shares. Zacks Research cut PTC Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 6th. Cantor Fitzgerald raised their price objective on PTC Therapeutics from $130.00 to $137.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 22nd. UBS Group reaffirmed a “buy” rating and issued a $90.00 price objective (up from $80.00) on shares of PTC Therapeutics in a report on Thursday. Leerink Partners started coverage on PTC Therapeutics in a research report on Monday, September 14th. They set an “outperform” rating and a $98.00 target price for the company. Finally, Royal Bank Of Canada cut their target price on PTC Therapeutics from $85.00 to $75.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 7th. Eleven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $95.07.

Hedge Funds Weigh In On PTC Therapeutics

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of PTC Therapeutics during the 2nd quarter worth approximately $1,139,089,000. Jupiter Topco LLC acquired a new stake in shares of PTC Therapeutics during the 2nd quarter worth approximately $590,182,000. Janus Henderson Group PLC boosted its position in shares of PTC Therapeutics by 48.3% during the 1st quarter. Janus Henderson Group PLC now owns 7,193,433 shares of the biopharmaceutical company’s stock worth $489,997,000 after acquiring an additional 2,342,101 shares in the last quarter. Wellington Management Group LLP increased its stake in PTC Therapeutics by 4.7% in the second quarter. Wellington Management Group LLP now owns 4,128,273 shares of the biopharmaceutical company’s stock valued at $336,743,000 after acquiring an additional 185,663 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in PTC Therapeutics by 31.8% in the first quarter. Bank of America Corp DE now owns 1,886,841 shares of the biopharmaceutical company’s stock valued at $128,550,000 after acquiring an additional 455,284 shares during the last quarter.

About PTC Therapeutics

PTC Therapeutics, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for rare diseases. Its research programs use technologies designed to address genetic and molecular causes of disease, including RNA biology, protein translation and gene therapy.

The company’s commercial portfolio includes Emflaza (deflazacort), a corticosteroid approved in the United States to treat Duchenne muscular dystrophy, and Upstaza (eladocagene exuparvovec), a gene therapy for aromatic L-amino acid decarboxylase deficiency in eligible patients.