PTC Therapeutics (NASDAQ:PTCT) Director Mary Smith Sells 15,834 Shares

PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Mary Smith sold 15,834 shares of the business’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $90.00, for a total value of $1,425,060.00. Following the completion of the transaction, the director owned 21,813 shares in the company, valued at $1,963,170. The trade was a 42.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PTC Therapeutics Stock Down 4.1%

NASDAQ PTCT opened at $81.33 on Tuesday. PTC Therapeutics, Inc. has a twelve month low of $43.17 and a twelve month high of $90.87. The business has a 50-day moving average price of $75.89 and a 200-day moving average price of $72.76. The firm has a market cap of $6.75 billion, a price-to-earnings ratio of -34.91, a price-to-earnings-growth ratio of 3.90 and a beta of 0.53.

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, beating the consensus estimate of ($0.45) by $0.42. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 22.58%.The company had revenue of $272.55 million for the quarter, compared to the consensus estimate of $217.42 million. During the same quarter last year, the company earned $10.04 EPS. The firm’s quarterly revenue was up 43.5% on a year-over-year basis. Research analysts expect that PTC Therapeutics, Inc. will post 0.78 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Raymond James Financial initiated coverage on shares of PTC Therapeutics in a report on Friday, April 10th. They issued an “outperform” rating and a $108.00 target price on the stock. TD Cowen raised shares of PTC Therapeutics from a “hold” rating to a “buy” rating and raised their target price for the company from $75.00 to $90.00 in a research note on Friday, May 8th. Citigroup upgraded shares of PTC Therapeutics from a “neutral” rating to a “buy” rating and lifted their price target for the company from $75.00 to $108.00 in a report on Tuesday, June 9th. Wells Fargo & Company boosted their price target on shares of PTC Therapeutics from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Finally, Jefferies Financial Group raised shares of PTC Therapeutics from a “hold” rating to a “buy” rating and increased their price objective for the company from $76.00 to $85.00 in a report on Wednesday, May 27th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, PTC Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $91.57.

Hedge Funds Weigh In On PTC Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. UMB Bank n.a. bought a new stake in shares of PTC Therapeutics in the 4th quarter worth about $26,000. Comerica Bank lifted its holdings in shares of PTC Therapeutics by 868.5% in the 3rd quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 469 shares during the last quarter. Salomon & Ludwin LLC purchased a new position in PTC Therapeutics in the fourth quarter worth about $41,000. IFP Advisors Inc grew its position in PTC Therapeutics by 68.1% in the third quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock worth $47,000 after acquiring an additional 310 shares in the last quarter. Finally, Allworth Financial LP boosted its stake in PTC Therapeutics by 63.8% during the fourth quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company’s stock worth $48,000 after buying an additional 247 shares during the period.

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.