Neil Gregory Almstead Sells 23,749 Shares of PTC Therapeutics (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) insider Neil Gregory Almstead sold 23,749 shares of the firm’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $80.90, for a total value of $1,921,294.10. Following the transaction, the insider owned 60,137 shares in the company, valued at approximately $4,865,083.30. This represents a 28.31% decrease in their position. The sale was disclosed in a document filed with the SEC, 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, April 1st, Neil Gregory Almstead sold 52,003 shares of PTC Therapeutics stock. The stock was sold at an average price of $69.04, for a total transaction of $3,590,287.12.

PTC Therapeutics Price Performance

NASDAQ:PTCT opened at $84.51 on Friday. PTC Therapeutics, Inc. has a 1-year low of $43.17 and a 1-year high of $87.50. The company has a 50-day moving average of $72.35 and a 200 day moving average of $72.03. The firm has a market cap of $7.01 billion, a PE ratio of -36.27, a price-to-earnings-growth ratio of 3.88 and a beta of 0.56.

PTC Therapeutics (NASDAQ:PTCT) last posted 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 net margin of 22.58% and a negative return on equity of 362.45%. The business 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 firm posted $10.04 EPS. The company’s revenue for the quarter was up 43.5% on a year-over-year basis. Sell-side analysts anticipate that PTC Therapeutics, Inc. will post 0.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PTCT. EverSource Wealth Advisors LLC grew its stake in shares of PTC Therapeutics by 16.9% during the first quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the biopharmaceutical company’s stock worth $71,000 after acquiring an additional 151 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of PTC Therapeutics by 8.5% during the first quarter. PNC Financial Services Group Inc. now owns 3,128 shares of the biopharmaceutical company’s stock worth $213,000 after buying an additional 244 shares during the period. Allworth Financial LP lifted its stake in shares of 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. Optiver Holding B.V. grew its holdings in shares of PTC Therapeutics by 96.5% during the third quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 249 shares during the last quarter. Finally, Measured Wealth Private Client Group LLC grew its holdings in shares of PTC Therapeutics by 5.6% during the fourth quarter. Measured Wealth Private Client Group LLC now owns 4,963 shares of the biopharmaceutical company’s stock valued at $377,000 after buying an additional 265 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. TD Cowen raised shares of PTC Therapeutics from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $75.00 to $90.00 in a research note on Friday, May 8th. Wells Fargo & Company increased their target price on PTC Therapeutics from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Morgan Stanley reiterated an “overweight” rating and issued a $94.00 price target on shares of PTC Therapeutics in a report on Friday, May 8th. Citigroup raised PTC Therapeutics from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $75.00 to $108.00 in a research report on Tuesday, June 9th. Finally, Royal Bank Of Canada upped their price objective on PTC Therapeutics from $81.00 to $82.00 and gave the stock a “sector perform” rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, PTC Therapeutics presently has a consensus rating of “Moderate Buy” and an average 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.