Insider Selling: PTC Therapeutics (NASDAQ:PTCT) Insider Sells $1,595,775.00 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) insider Eric Pauwels sold 21,277 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $75.00, for a total value of $1,595,775.00. Following the transaction, the insider owned 73,411 shares of the company’s stock, valued at $5,505,825. This trade represents a 22.47% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 Price Performance

Shares of PTC Therapeutics stock opened at $75.14 on Monday. The business has a 50-day moving average of $70.54 and a 200 day moving average of $72.12. PTC Therapeutics, Inc. has a 12 month low of $43.17 and a 12 month high of $87.50. The stock has a market capitalization of $6.23 billion, a price-to-earnings ratio of -32.25, a price-to-earnings-growth ratio of 3.46 and a beta of 0.55.

PTC Therapeutics (NASDAQ:PTCT) last announced its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $217.42 million. During the same period last year, the business posted $10.04 EPS. PTC Therapeutics’s revenue for the quarter was up 43.5% on a year-over-year basis. Equities research analysts anticipate that PTC Therapeutics, Inc. will post 0.78 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Weiss Ratings cut PTC Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, May 11th. Citigroup upgraded PTC Therapeutics from a “neutral” rating to a “buy” rating and raised their target price for the company from $75.00 to $108.00 in a report on Tuesday, June 9th. Royal Bank Of Canada raised their target price on PTC Therapeutics from $81.00 to $82.00 and gave the company a “sector perform” rating in a report on Friday, May 8th. Barclays reaffirmed an “overweight” rating and issued a $120.00 price target on shares of PTC Therapeutics in a research report on Monday, February 23rd. Finally, TD Cowen raised PTC Therapeutics from a “hold” rating to a “buy” rating and increased their price target for the company from $75.00 to $90.00 in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $91.36.

Institutional Investors Weigh In On PTC Therapeutics

A number of hedge funds have recently bought and sold shares of the stock. Thrivent Financial for Lutherans purchased a new position in PTC Therapeutics during the 4th quarter worth approximately $4,191,000. Teachers Retirement System of The State of Kentucky grew its stake in PTC Therapeutics by 86.9% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 40,858 shares of the biopharmaceutical company’s stock worth $3,103,000 after buying an additional 19,000 shares during the last quarter. Jefferies Financial Group Inc. purchased a new position in PTC Therapeutics during the 3rd quarter worth approximately $97,252,000. Ritholtz Wealth Management purchased a new position in PTC Therapeutics during the 4th quarter worth approximately $1,863,000. Finally, Comerica Bank grew its stake in PTC Therapeutics by 3,231.9% during the 4th quarter. Comerica Bank now owns 17,426 shares of the biopharmaceutical company’s stock worth $1,324,000 after buying an additional 16,903 shares during the last quarter.

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.