PTC Therapeutics (NASDAQ:PTCT) Insider Neil Gregory Almstead Sells 71,928 Shares

PTC Therapeutics, Inc. (NASDAQ:PTCT) insider Neil Gregory Almstead sold 71,928 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $83.44, for a total transaction of $6,001,672.32. Following the completion of the sale, the insider owned 100,625 shares of the company’s stock, valued at $8,396,150. This trade represents a 41.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, November 24th, Neil Gregory Almstead sold 35,572 shares of PTC Therapeutics stock. The shares were sold at an average price of $80.18, for a total transaction of $2,852,162.96.
• On Friday, October 3rd, Neil Gregory Almstead sold 55,000 shares of PTC Therapeutics stock. The stock was sold at an average price of $66.05, for a total value of $3,632,750.00.

PTC Therapeutics Price Performance

NASDAQ PTCT opened at $86.25 on Thursday. The business has a 50 day moving average price of $68.42 and a 200 day moving average price of $56.44. The company has a market capitalization of $6.92 billion, a P/E ratio of 12.37 and a beta of 0.60. PTC Therapeutics, Inc. has a 1-year low of $35.95 and a 1-year high of $87.50.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of ($1.19) by $1.39. PTC Therapeutics had a negative return on equity of 106.31% and a net margin of 35.65%.The business had revenue of $211.01 million during the quarter, compared to analysts’ expectations of $177.42 million. During the same quarter last year, the business posted ($1.39) earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. PTC Therapeutics has set its FY 2025 guidance at EPS. On average, research analysts expect that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PTC Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in PTCT. Mackenzie Financial Corp increased its stake in PTC Therapeutics by 14.6% in the first quarter. Mackenzie Financial Corp now owns 26,092 shares of the biopharmaceutical company’s stock valued at $1,330,000 after purchasing an additional 3,316 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of PTC Therapeutics by 57.5% during the 1st quarter. Federated Hermes Inc. now owns 75,345 shares of the biopharmaceutical company’s stock valued at $3,840,000 after acquiring an additional 27,517 shares during the last quarter. XTX Topco Ltd increased its stake in shares of PTC Therapeutics by 172.2% during the 1st quarter. XTX Topco Ltd now owns 35,987 shares of the biopharmaceutical company’s stock valued at $1,834,000 after acquiring an additional 22,764 shares during the last quarter. Bayforest Capital Ltd purchased a new position in shares of PTC Therapeutics during the 1st quarter worth about $415,000. Finally, Natixis Advisors LLC boosted its position in shares of PTC Therapeutics by 26.2% in the first quarter. Natixis Advisors LLC now owns 15,220 shares of the biopharmaceutical company’s stock worth $776,000 after acquiring an additional 3,160 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Cowen restated a “hold” rating on shares of PTC Therapeutics in a research report on Wednesday, November 5th. Cantor Fitzgerald restated an “overweight” rating and set a $118.00 price objective on shares of PTC Therapeutics in a research report on Wednesday, September 3rd. The Goldman Sachs Group increased their target price on PTC Therapeutics from $44.00 to $50.00 and gave the company a “sell” rating in a report on Wednesday, November 5th. Wall Street Zen raised PTC Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Barclays upped their price objective on PTC Therapeutics from $46.00 to $68.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 5th. Ten investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $75.40.

About PTC Therapeutics

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders in the United States and internationally. The company offers Translarna and Emflaza for the treatment of Duchenne muscular dystrophy; Upstaza to treat aromatic l-amino acid decarboxylas (AADC) deficiency, a central nervous system disorder; Tegsedi and Waylivra for the treatment of rare diseases; and Evrysdi to treat spinal muscular atrophy (SMA) in adults and children.