PTC Therapeutics (NASDAQ:PTCT) Director Sells 12,000 Shares of Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Glenn Md Phd Steele, Jr. sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $65.16, for a total value of $781,920.00. Following the sale, the director owned 22,500 shares in the company, valued at $1,466,100. This trade represents a 34.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PTC Therapeutics Price Performance

NASDAQ PTCT traded down $0.67 during trading hours on Friday, reaching $63.46. The company’s stock had a trading volume of 895,553 shares, compared to its average volume of 1,380,635. The firm has a market capitalization of $5.30 billion, a price-to-earnings ratio of -109.41, a P/E/G ratio of 2.00 and a beta of 0.49. PTC Therapeutics, Inc. has a 1-year low of $61.23 and a 1-year high of $90.87. The company’s 50-day moving average is $69.66 and its two-hundred day moving average is $72.09.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.24 by $0.68. The business had revenue of $360.52 million during the quarter, compared to analyst estimates of $298.63 million. The firm’s revenue for the quarter was up 101.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.83) earnings per share. Equities analysts forecast that PTC Therapeutics, Inc. will post 1.17 EPS for the current fiscal year.

Hedge Funds Weigh In On PTC Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Castleark Management LLC acquired a new stake in shares of PTC Therapeutics in the 4th quarter worth $7,357,000. Rock Springs Capital Management LP boosted its position in shares of PTC Therapeutics by 161.5% during the 1st quarter. Rock Springs Capital Management LP now owns 161,798 shares of the biopharmaceutical company’s stock valued at $11,023,000 after acquiring an additional 99,919 shares during the last quarter. Parkman Healthcare Partners LLC purchased a new stake in shares of PTC Therapeutics in the second quarter valued at about $35,539,000. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of PTC Therapeutics by 67.9% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 159,477 shares of the biopharmaceutical company’s stock valued at $12,114,000 after purchasing an additional 64,472 shares during the period. Finally, California State Teachers Retirement System increased its position in PTC Therapeutics by 23.5% during the first quarter. California State Teachers Retirement System now owns 84,320 shares of the biopharmaceutical company’s stock worth $5,745,000 after purchasing an additional 16,027 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Barclays lifted their price target on shares of PTC Therapeutics from $120.00 to $122.00 and gave the company an “overweight” rating in a research note on Friday, August 14th. Morgan Stanley increased their price objective on shares of PTC Therapeutics from $93.00 to $104.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Cantor Fitzgerald lifted their target price on shares of PTC Therapeutics from $130.00 to $137.00 and gave the company an “overweight” rating in a research report on Tuesday, September 22nd. Wells Fargo & Company upped their price target on shares of PTC Therapeutics from $106.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday, August 13th. Finally, Citigroup upgraded PTC Therapeutics from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $75.00 to $108.00 in a report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.08.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for rare diseases. Its research programs use technologies designed to address genetic and molecular causes of disease, including RNA biology, protein translation and gene therapy.

The company’s commercial portfolio includes Emflaza (deflazacort), a corticosteroid approved in the United States to treat Duchenne muscular dystrophy, and Upstaza (eladocagene exuparvovec), a gene therapy for aromatic L-amino acid decarboxylase deficiency in eligible patients.