Insider Selling: PTC Therapeutics (NASDAQ:PTCT) Director Sells $55,784.00 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Emma Reeve sold 734 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $76.00, for a total transaction of $55,784.00. Following the completion of the transaction, the director directly owned 10,666 shares in the company, valued at approximately $810,616. The trade was a 6.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Emma Reeve also recently made the following trade(s):

• On Wednesday, December 3rd, Emma Reeve sold 733 shares of PTC Therapeutics stock. The shares were sold at an average price of $78.62, for a total value of $57,628.46.
• On Friday, November 21st, Emma Reeve sold 10,000 shares of PTC Therapeutics stock. The stock was sold at an average price of $79.50, for a total value of $795,000.00.
• On Wednesday, November 12th, Emma Reeve sold 7,333 shares of PTC Therapeutics stock. The stock was sold at an average price of $74.50, for a total value of $546,308.50.
• On Thursday, October 30th, Emma Reeve sold 15,666 shares of PTC Therapeutics stock. The shares were sold at an average price of $69.50, for a total value of $1,088,787.00.

PTC Therapeutics Stock Performance

PTCT traded down $0.06 during midday trading on Tuesday, reaching $76.70. 2,117,039 shares of the company were exchanged, compared to its average volume of 1,638,346. The stock has a market capitalization of $6.16 billion, a P/E ratio of 8.96 and a beta of 0.49. PTC Therapeutics, Inc. has a one year low of $35.95 and a one year high of $87.50. The stock’s 50-day simple moving average is $76.06 and its 200 day simple moving average is $62.32.

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. The business had revenue of $211.01 million for the quarter, compared to the consensus estimate of $177.42 million. PTC Therapeutics had a net margin of 42.25% and a negative return on equity of 194.11%. PTC Therapeutics’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the company posted ($1.39) EPS. On average, research analysts anticipate that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PTCT shares. Weiss Ratings reiterated a “hold (c)” rating on shares of PTC Therapeutics in a report on Monday, December 29th. Royal Bank Of Canada lowered PTC Therapeutics from an “outperform” rating to a “sector perform” rating and raised their price target for the stock from $82.00 to $91.00 in a research report on Monday, December 1st. Barclays lifted their price objective on PTC Therapeutics from $46.00 to $68.00 and gave the company an “equal weight” rating in a report on Wednesday, November 5th. Wells Fargo & Company boosted their price objective on PTC Therapeutics from $73.00 to $93.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. Finally, TD Cowen raised their target price on shares of PTC Therapeutics from $50.00 to $63.00 and gave the stock a “hold” rating in a report on Wednesday, November 5th. Nine analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $76.00.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Smartleaf Asset Management LLC raised its position in PTC Therapeutics by 101.3% in the 3rd 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 last quarter. Optiver Holding B.V. boosted its position in PTC Therapeutics by 96.5% during the 3rd quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 249 shares during the last quarter. Comerica Bank grew its stake in shares of PTC Therapeutics by 868.5% during the 3rd quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 469 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of PTC Therapeutics by 68.1% in the third quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 310 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of PTC Therapeutics by 42.1% in the second quarter. PNC Financial Services Group Inc. now owns 995 shares of the biopharmaceutical company’s stock valued at $49,000 after purchasing an additional 295 shares during the last quarter.

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.