PTC Therapeutics (NASDAQ:PTCT) Insider Sells $452,614.69 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) insider Neil Gregory Almstead sold 5,323 shares of the company’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $85.03, for a total value of $452,614.69. Following the completion of the sale, the insider owned 60,137 shares in the company, valued at $5,113,449.11. This represents a 8.13% decrease in their ownership of the stock. The sale 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.

Neil Gregory Almstead also recently made the following trade(s):

• On Thursday, June 25th, Neil Gregory Almstead sold 20,960 shares of PTC Therapeutics stock. The stock was sold at an average price of $85.97, for a total value of $1,801,931.20.
• On Monday, June 22nd, Neil Gregory Almstead sold 23,749 shares of PTC Therapeutics stock. The stock was sold at an average price of $80.90, for a total value of $1,921,294.10.
• On Wednesday, April 1st, Neil Gregory Almstead sold 52,003 shares of PTC Therapeutics stock. The shares were sold at an average price of $69.04, for a total transaction of $3,590,287.12.

PTC Therapeutics Price Performance

NASDAQ:PTCT traded down $0.08 on Friday, reaching $84.43. The stock had a trading volume of 3,903,105 shares, compared to its average volume of 1,404,402. The company has a market cap of $7.00 billion, a price-to-earnings ratio of -36.24, a P/E/G ratio of 3.88 and a beta of 0.56. The firm’s fifty day moving average is $72.35 and its two-hundred day moving average is $72.03. PTC Therapeutics, Inc. has a 12-month low of $43.17 and a 12-month high of $87.50.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly 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. The company had revenue of $272.55 million for the quarter, compared to analysts’ expectations of $217.42 million. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. The firm’s revenue for the quarter was up 43.5% compared to the same quarter last year. During the same period last year, the company earned $10.04 EPS. As a group, research analysts forecast that PTC Therapeutics, Inc. will post 0.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on PTCT. Jefferies Financial Group upgraded PTC Therapeutics from a “hold” rating to a “buy” rating and boosted their price target for the company from $76.00 to $85.00 in a report on Wednesday, May 27th. Wells Fargo & Company lifted their price objective on PTC Therapeutics from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Citigroup upgraded PTC Therapeutics from a “neutral” rating to a “buy” rating and upped their target price for the company from $75.00 to $108.00 in a research note on Tuesday, June 9th. Weiss Ratings downgraded PTC Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Finally, Raymond James Financial began coverage on PTC Therapeutics in a research report on Friday, April 10th. They set an “outperform” rating and a $108.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, PTC Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $91.36.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC grew its position in PTC Therapeutics by 48.3% during 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 acquiring an additional 2,342,101 shares during the period. Jefferies Financial Group Inc. acquired a new position in shares of PTC Therapeutics in the 3rd quarter valued at about $97,252,000. State Street Corp lifted its stake in shares of PTC Therapeutics by 34.2% in the 4th quarter. State Street Corp now owns 4,206,126 shares of the biopharmaceutical company’s stock valued at $319,497,000 after purchasing an additional 1,071,343 shares in the last quarter. Toronto Dominion Bank grew its holdings in shares of PTC Therapeutics by 27.5% during the 4th quarter. Toronto Dominion Bank now owns 4,138,215 shares of the biopharmaceutical company’s stock worth $314,339,000 after purchasing an additional 891,690 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in shares of PTC Therapeutics by 4,013.1% during the 4th quarter. BNP Paribas Financial Markets now owns 828,662 shares of the biopharmaceutical company’s stock worth $62,945,000 after purchasing an additional 808,515 shares during the period.

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.