PTC Therapeutics (NASDAQ:PTCT) CAO Christine Marie Utter Sells 19,686 Shares

PTC Therapeutics, Inc. (NASDAQ:PTCT) CAO Christine Marie Utter sold 19,686 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $75.56, for a total value of $1,487,474.16. Following the transaction, the chief accounting officer owned 70,199 shares in the company, valued at approximately $5,304,236.44. The trade was a 21.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PTC Therapeutics Stock Performance

Shares of PTCT stock opened at $80.96 on Tuesday. The company has a market capitalization of $6.72 billion, a P/E ratio of -34.75, a PEG ratio of 3.63 and a beta of 0.55. PTC Therapeutics, Inc. has a fifty-two week low of $43.17 and a fifty-two week high of $87.50. The stock has a 50 day moving average price of $71.57 and a two-hundred day moving average price of $71.89.

PTC Therapeutics (NASDAQ:PTCT) last issued its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.42. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. The firm had revenue of $272.55 million for the quarter, compared to analysts’ expectations of $217.42 million. During the same quarter last year, the business earned $10.04 earnings per share. The business’s revenue was up 43.5% on a year-over-year basis. As a group, equities analysts predict that PTC Therapeutics, Inc. will post 0.78 earnings per share for the current year.

Institutional Investors Weigh In On PTC Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of 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 purchasing an additional 514,204 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of PTC Therapeutics by 48.3% in the 1st quarter. Janus Henderson Group PLC now owns 7,193,433 shares of the biopharmaceutical company’s stock worth $489,997,000 after buying an additional 2,342,101 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of PTC Therapeutics by 4.8% in the 3rd quarter. Wellington Management Group LLP now owns 4,918,619 shares of the biopharmaceutical company’s stock worth $301,856,000 after buying an additional 224,481 shares during the last quarter. State Street Corp increased its position in PTC Therapeutics by 34.2% during the 4th quarter. State Street Corp now owns 4,206,126 shares of the biopharmaceutical company’s stock valued at $319,497,000 after buying an additional 1,071,343 shares in the last quarter. Finally, Toronto Dominion Bank increased its position in PTC Therapeutics by 27.5% during the 4th quarter. Toronto Dominion Bank now owns 4,138,215 shares of the biopharmaceutical company’s stock valued at $314,339,000 after buying an additional 891,690 shares in the last quarter.

Wall Street Analyst Weigh In

PTCT has been the subject of a number of analyst reports. Citigroup upgraded shares of PTC Therapeutics from a “neutral” rating to a “buy” rating and increased their target price for the stock from $75.00 to $108.00 in a report on Tuesday, June 9th. Jefferies Financial Group upgraded PTC Therapeutics from a “hold” rating to a “buy” rating and boosted their price target for the company from $76.00 to $85.00 in a report on Wednesday, May 27th. Raymond James Financial assumed coverage on PTC Therapeutics in a report on Friday, April 10th. They issued an “outperform” rating and a $108.00 price objective for the company. Weiss Ratings lowered PTC Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Finally, Barclays reissued an “overweight” rating and set a $120.00 target price on shares of PTC Therapeutics in a research note on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, PTC Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $91.36.

About PTC Therapeutics

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.