Neil Gregory Almstead Sells 20,960 Shares of PTC Therapeutics (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) insider Neil Gregory Almstead sold 20,960 shares of the business’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $85.97, for a total value of $1,801,931.20. Following the completion of the transaction, the insider directly owned 60,137 shares of the company’s stock, valued at approximately $5,169,977.89. This trade represents a 25.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neil Gregory Almstead also recently made the following trade(s):

• On Wednesday, June 24th, Neil Gregory Almstead sold 5,323 shares of PTC Therapeutics stock. The shares were sold at an average price of $85.03, for a total value of $452,614.69.
• On Monday, June 22nd, Neil Gregory Almstead sold 23,749 shares of PTC Therapeutics stock. The stock was sold at an average price of $80.90, for a total value of $1,921,294.10.
• On Wednesday, April 1st, Neil Gregory Almstead sold 52,003 shares of PTC Therapeutics stock. The shares were sold at an average price of $69.04, for a total transaction of $3,590,287.12.

PTC Therapeutics Trading Down 0.1%

NASDAQ:PTCT opened at $84.43 on Friday. The firm has a market cap of $7.00 billion, a price-to-earnings ratio of -36.24, a price-to-earnings-growth ratio of 3.88 and a beta of 0.56. The company’s 50-day moving average is $72.57 and its two-hundred day moving average is $72.12. PTC Therapeutics, Inc. has a 12-month low of $43.17 and a 12-month high of $87.50.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.42. The business had revenue of $272.55 million during the quarter, compared to the consensus estimate of $217.42 million. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. The company’s quarterly revenue was up 43.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $10.04 earnings per share. On average, equities research analysts forecast that PTC Therapeutics, Inc. will post 0.78 earnings per share for the current fiscal year.

Institutional Trading of PTC Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC raised its holdings in PTC Therapeutics by 48.3% in the first quarter. Janus Henderson Group PLC now owns 7,193,433 shares of the biopharmaceutical company’s stock valued at $489,997,000 after buying an additional 2,342,101 shares during the period. Jefferies Financial Group Inc. purchased a new stake in PTC Therapeutics during the third quarter worth approximately $97,252,000. State Street Corp grew its stake in PTC Therapeutics by 34.2% during the fourth quarter. State Street Corp now owns 4,206,126 shares of the biopharmaceutical company’s stock worth $319,497,000 after buying an additional 1,071,343 shares during the period. Toronto Dominion Bank increased its position in shares of PTC Therapeutics by 27.5% in the fourth quarter. Toronto Dominion Bank now owns 4,138,215 shares of the biopharmaceutical company’s stock worth $314,339,000 after acquiring an additional 891,690 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of PTC Therapeutics by 4,013.1% in the fourth quarter. BNP Paribas Financial Markets now owns 828,662 shares of the biopharmaceutical company’s stock worth $62,945,000 after acquiring an additional 808,515 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on PTCT shares. Raymond James Financial started coverage on PTC Therapeutics in a research report on Friday, April 10th. They set an “outperform” rating and a $108.00 target price on the stock. TD Cowen upgraded PTC Therapeutics from a “hold” rating to a “buy” rating and lifted their price target for the company from $75.00 to $90.00 in a report on Friday, May 8th. Truist Financial upgraded shares of PTC Therapeutics to a “strong-buy” rating in a report on Wednesday, March 25th. Royal Bank Of Canada raised their target price on shares of PTC Therapeutics from $81.00 to $82.00 and gave the stock a “sector perform” rating in a research report on Friday, May 8th. Finally, Citigroup upgraded shares of PTC Therapeutics from a “neutral” rating to a “buy” rating and boosted their target price for the company from $75.00 to $108.00 in a report on Tuesday, June 9th. One equities research 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 issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $91.36.

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.