Michael Schmertzler Sells 12,500 Shares of PTC Therapeutics (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Michael Schmertzler sold 12,500 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $73.32, for a total value of $916,500.00. Following the sale, the director owned 1,374,094 shares of the company’s stock, valued at $100,748,572.08. This trade represents a 0.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PTC Therapeutics Price Performance

Shares of PTCT stock opened at $69.82 on Friday. The stock’s 50-day moving average is $77.62 and its 200 day moving average is $72.35. PTC Therapeutics, Inc. has a 1-year low of $48.28 and a 1-year high of $90.87. The company has a market cap of $5.83 billion, a P/E ratio of -120.38, a PEG ratio of 2.15 and a beta of 0.56.

PTC Therapeutics (NASDAQ:PTCT) last announced its earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.68. PTC Therapeutics had a negative net margin of 3.80% and a negative return on equity of 362.45%. The business had revenue of $360.52 million during the quarter, compared to the consensus estimate of $298.63 million. During the same period in the previous year, the company posted ($0.83) earnings per share. The firm’s revenue was up 101.5% on a year-over-year basis. On average, analysts anticipate that PTC Therapeutics, Inc. will post 1.17 EPS for the current year.

Analyst Ratings Changes

PTCT has been the topic of several analyst reports. Wells Fargo & Company lifted their price target on shares of PTC Therapeutics from $106.00 to $109.00 and gave the stock an “overweight” rating in a report on Thursday, August 13th. TD Cowen upgraded PTC Therapeutics from a “hold” rating to a “buy” rating and increased their price objective for the company from $75.00 to $90.00 in a report on Friday, May 8th. Morgan Stanley raised their price objective on PTC Therapeutics from $93.00 to $104.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Zacks Research downgraded PTC Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 6th. Finally, Jefferies Financial Group raised PTC Therapeutics from a “hold” rating to a “buy” rating and upped their target price for the company from $76.00 to $85.00 in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $98.55.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PTCT. Empowered Funds LLC acquired a new position in shares of PTC Therapeutics in the 1st quarter valued at $1,999,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in PTC Therapeutics by 11.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 178,755 shares of the biopharmaceutical company’s stock worth $9,109,000 after acquiring an additional 18,504 shares during the period. Quantbot Technologies LP lifted its position in PTC Therapeutics by 280.1% during the 2nd quarter. Quantbot Technologies LP now owns 2,478 shares of the biopharmaceutical company’s stock worth $121,000 after acquiring an additional 1,826 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in PTC Therapeutics during the 2nd quarter valued at about $1,661,000. Finally, EverSource Wealth Advisors LLC grew its stake in PTC Therapeutics by 247.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,143 shares of the biopharmaceutical company’s stock valued at $56,000 after purchasing an additional 814 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.