PTC Therapeutics (NASDAQ:PTCT) EVP Sells $633,800.00 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) EVP Lee Scott Golden sold 10,000 shares of the stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $63.38, for a total value of $633,800.00. Following the transaction, the executive vice president owned 79,944 shares of the company’s stock, valued at approximately $5,066,850.72. The trade was a 11.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Lee Scott Golden also recently made the following trade(s):

• On Wednesday, February 18th, Lee Scott Golden sold 2,484 shares of PTC Therapeutics stock. The shares were sold at an average price of $69.36, for a total value of $172,290.24.
• On Thursday, January 8th, Lee Scott Golden sold 866 shares of PTC Therapeutics stock. The stock was sold at an average price of $76.45, for a total value of $66,205.70.
• On Wednesday, January 7th, Lee Scott Golden sold 642 shares of PTC Therapeutics stock. The stock was sold at an average price of $77.48, for a total transaction of $49,742.16.
• On Tuesday, January 6th, Lee Scott Golden sold 1,340 shares of PTC Therapeutics stock. The shares were sold at an average price of $76.95, for a total transaction of $103,113.00.

PTC Therapeutics Trading Down 4.2%

Shares of PTCT opened at $65.67 on Thursday. PTC Therapeutics, Inc. has a 12 month low of $35.95 and a 12 month high of $87.50. The firm has a fifty day simple moving average of $72.23 and a 200 day simple moving average of $69.69. The stock has a market capitalization of $5.44 billion, a price-to-earnings ratio of 8.48 and a beta of 0.51.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.67) EPS for the quarter, missing the consensus estimate of ($0.21) by ($1.46). The business had revenue of $164.68 million for the quarter, compared to the consensus estimate of $281.45 million. PTC Therapeutics had a negative return on equity of 362.45% and a net margin of 39.44%.The company’s quarterly revenue was down 22.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.85) earnings per share. As a group, research analysts predict that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PTC Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of PTCT. Ameritas Investment Partners Inc. boosted its holdings in shares of PTC Therapeutics by 3.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,936 shares of the biopharmaceutical company’s stock worth $388,000 after buying an additional 231 shares during the period. Smartleaf Asset Management LLC lifted 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 worth $28,000 after acquiring an additional 236 shares during the last quarter. Allworth Financial LP lifted its position in 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 acquiring an additional 247 shares during the last quarter. Optiver Holding B.V. boosted 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 worth $31,000 after acquiring an additional 249 shares during the period. Finally, Measured Wealth Private Client Group LLC boosted 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 worth $377,000 after acquiring an additional 265 shares during the period.

Analyst Ratings Changes

PTCT has been the subject of several recent analyst reports. Barclays reissued an “overweight” rating and issued a $120.00 price objective on shares of PTC Therapeutics in a report on Monday, February 23rd. Wells Fargo & Company dropped their price target on shares of PTC Therapeutics from $93.00 to $86.00 and set an “overweight” rating on the stock in a research report on Friday, February 20th. Wall Street Zen cut shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, February 21st. Weiss Ratings reissued a “hold (c)” rating on shares of PTC Therapeutics in a research report on Monday, December 29th. Finally, Morgan Stanley boosted their price objective on shares of PTC Therapeutics from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, February 23rd. Ten analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $82.79.

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.