Insider Selling: PTC Therapeutics (NASDAQ:PTCT) Director Sells $911,750.00 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Michael Schmertzler sold 12,500 shares of PTC Therapeutics stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $72.94, for a total transaction of $911,750.00. Following the sale, the director directly owned 1,349,094 shares of the company’s stock, valued at approximately $98,402,916.36. This trade represents a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michael Schmertzler also recently made the following trade(s):

• On Wednesday, August 19th, Michael Schmertzler sold 12,500 shares of PTC Therapeutics stock. The shares were sold at an average price of $73.32, for a total value of $916,500.00.

PTC Therapeutics Price Performance

NASDAQ PTCT opened at $70.09 on Monday. PTC Therapeutics, Inc. has a 12 month low of $48.96 and a 12 month high of $90.87. The company has a market capitalization of $5.85 billion, a price-to-earnings ratio of -120.84, a price-to-earnings-growth ratio of 2.16 and a beta of 0.56. The firm’s fifty day moving average price is $77.08 and its 200 day moving average price is $72.26.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.68. The company had revenue of $360.52 million for the quarter, compared to analyst estimates of $298.63 million. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 3.80%.The business’s quarterly revenue was up 101.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.83) earnings per share. As a group, sell-side analysts forecast that PTC Therapeutics, Inc. will post 1.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Cantor Fitzgerald boosted their price objective on shares of PTC Therapeutics from $124.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Weiss Ratings downgraded PTC Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, August 17th. Barclays boosted their target price on shares of PTC Therapeutics from $120.00 to $122.00 and gave the stock an “overweight” rating in a research report on Friday, August 14th. Morgan Stanley upped their price target on shares of PTC Therapeutics from $93.00 to $104.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Finally, Wells Fargo & Company raised their price objective on shares of PTC Therapeutics from $106.00 to $109.00 and gave the company an “overweight” rating in a research note on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, PTC Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.55.

Hedge Funds Weigh In On PTC Therapeutics

A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of PTC Therapeutics in the 2nd quarter worth $1,139,089,000. Vanguard Group Inc. raised its position in shares of PTC Therapeutics by 6.2% in the 4th quarter. Vanguard Group Inc. now owns 8,803,203 shares of the biopharmaceutical company’s stock valued at $668,691,000 after purchasing an additional 514,204 shares in the last quarter. Jupiter Topco LLC bought a new stake in shares of PTC Therapeutics in the 2nd quarter worth about $590,182,000. Janus Henderson Group PLC increased its holdings in PTC Therapeutics by 48.3% in the first quarter. Janus Henderson Group PLC now owns 7,193,433 shares of the biopharmaceutical company’s stock valued at $489,997,000 after buying an additional 2,342,101 shares during the last quarter. Finally, California State Teachers Retirement System raised its position in shares of PTC Therapeutics by 7,806.7% during the 2nd quarter. California State Teachers Retirement System now owns 6,666,961 shares of the biopharmaceutical company’s stock valued at $543,824,000 after acquiring an additional 6,582,641 shares in 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.