PTC Therapeutics (NASDAQ:PTCT) CEO Sells $917,127.40 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Matthew Klein sold 12,572 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $72.95, for a total transaction of $917,127.40. Following the completion of the sale, the chief executive officer owned 393,998 shares of the company’s stock, valued at approximately $28,742,154.10. The trade was a 3.09% decrease in their position. The transaction 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

PTC Therapeutics Price Performance

NASDAQ PTCT opened at $71.47 on Monday. PTC Therapeutics, Inc. has a 1 year low of $43.17 and a 1 year high of $87.50. The firm has a market cap of $5.93 billion, a price-to-earnings ratio of -30.67, a PEG ratio of 13.33 and a beta of 0.53. The company has a fifty day moving average price of $68.57 and a 200-day moving average price of $72.36.

PTC Therapeutics (NASDAQ:PTCT) last posted its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $272.55 million during the quarter, compared to analyst estimates of $217.42 million. During the same quarter in the prior year, the business posted $10.04 EPS. The business’s revenue was up 43.5% compared to the same quarter last year. On average, research analysts anticipate that PTC Therapeutics, Inc. will post 0.19 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of PTC Therapeutics in a research note on Friday, February 20th. TD Cowen upgraded shares of PTC Therapeutics from a “hold” rating to a “buy” rating and upped their target price for the stock from $75.00 to $90.00 in a research note on Friday, May 8th. Royal Bank Of Canada increased their price target on shares of PTC Therapeutics from $81.00 to $82.00 and gave the company a “sector perform” rating in a research report on Friday, May 8th. Jefferies Financial Group lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating and reduced their price target for the company from $91.00 to $76.00 in a research report on Monday, March 30th. Finally, Wall Street Zen lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $88.36.

Hedge Funds Weigh In On PTC Therapeutics

Several institutional investors have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC grew its position in PTC Therapeutics by 101.3% during the third quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 236 shares during the period. PNC Financial Services Group Inc. grew its position in 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 valued at $213,000 after buying an additional 244 shares during the period. Allworth Financial LP lifted its holdings in PTC Therapeutics by 63.8% during the fourth quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company’s stock valued at $48,000 after purchasing an additional 247 shares during the last quarter. Optiver Holding B.V. boosted its position in PTC Therapeutics by 96.5% during the third quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 249 shares during the period. Finally, Measured Wealth Private Client Group LLC boosted its position in 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 worth $377,000 after purchasing an additional 265 shares during the period.

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.