Key Points
- PTC director Emma Reeve sold 10,000 shares on Nov. 21 at $79.50 for $795,000, leaving her with 6,666 shares (a ~60% reduction) after multiple earlier sales this fall that together represent a significant cut in her holdings.
- PTC beat expectations with $0.20 EPS (vs. -$1.19 est.) and $211M revenue (vs. $177M est.), and the stock is trading near recent highs amid analyst upgrades and a consensus "Moderate Buy" with an average target of $75.40.
PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) Director Emma Reeve sold 10,000 shares of PTC Therapeutics stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $79.50, for a total value of $795,000.00. Following the sale, the director directly owned 6,666 shares of the company's stock, valued at $529,947. This trade represents a 60.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Emma Reeve also recently made the following trade(s):
- 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.
- On Friday, October 3rd, Emma Reeve sold 25,562 shares of PTC Therapeutics stock. The stock was sold at an average price of $65.96, for a total value of $1,686,069.52.
- On Thursday, September 11th, Emma Reeve sold 15,705 shares of PTC Therapeutics stock. The shares were sold at an average price of $59.50, for a total value of $934,447.50.
PTC Therapeutics Price Performance
Shares of NASDAQ:PTCT opened at $82.93 on Wednesday. The firm has a fifty day moving average price of $67.91 and a 200 day moving average price of $56.23. PTC Therapeutics, Inc. has a 1-year low of $35.95 and a 1-year high of $85.62. The stock has a market cap of $6.66 billion, a P/E ratio of 11.90 and a beta of 0.60.
PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, beating the consensus estimate of ($1.19) by $1.39. PTC Therapeutics had a net margin of 35.65% and a negative return on equity of 106.31%. The business had revenue of $211.01 million for the quarter, compared to the consensus estimate of $177.42 million. During the same quarter in the previous year, the firm earned ($1.39) earnings per share. The business's quarterly revenue was up 7.2% compared to the same quarter last year. PTC Therapeutics has set its FY 2025 guidance at EPS. Sell-side analysts expect that PTC Therapeutics, Inc. will post -4.52 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
PTCT has been the subject of several recent research reports. Citigroup raised their price target on PTC Therapeutics from $50.00 to $75.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 5th. Robert W. Baird set a $70.00 target price on shares of PTC Therapeutics in a report on Friday, August 8th. UBS Group lifted their price target on shares of PTC Therapeutics from $71.00 to $80.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Jefferies Financial Group boosted their price objective on shares of PTC Therapeutics from $63.00 to $77.00 and gave the company a "buy" rating in a research report on Tuesday, October 28th. Finally, Royal Bank Of Canada raised their target price on shares of PTC Therapeutics from $70.00 to $82.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 5th. Ten research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, PTC Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $75.40.
Check Out Our Latest Stock Analysis on PTCT
Hedge Funds Weigh In On PTC Therapeutics
Several hedge funds and other institutional investors have recently made changes to their positions in PTCT. Wellington Management Group LLP increased its holdings in PTC Therapeutics by 13.2% in the 1st quarter. Wellington Management Group LLP now owns 5,419,172 shares of the biopharmaceutical company's stock valued at $276,161,000 after purchasing an additional 632,049 shares in the last quarter. State Street Corp grew its stake in shares of PTC Therapeutics by 22.1% in the second quarter. State Street Corp now owns 2,996,454 shares of the biopharmaceutical company's stock valued at $146,347,000 after buying an additional 541,558 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of PTC Therapeutics by 3.2% in the second quarter. Geode Capital Management LLC now owns 1,934,593 shares of the biopharmaceutical company's stock valued at $94,497,000 after buying an additional 60,707 shares in the last quarter. Jefferies Financial Group Inc. purchased a new stake in shares of PTC Therapeutics during the 3rd quarter valued at about $97,252,000. Finally, Driehaus Capital Management LLC lifted its position in PTC Therapeutics by 45.3% during the 1st quarter. Driehaus Capital Management LLC now owns 1,512,645 shares of the biopharmaceutical company's stock worth $77,084,000 after acquiring an additional 471,586 shares in the last quarter.
About PTC Therapeutics
(
Get Free Report)
PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders in the United States and internationally. The company offers Translarna and Emflaza for the treatment of Duchenne muscular dystrophy; Upstaza to treat aromatic l-amino acid decarboxylas (AADC) deficiency, a central nervous system disorder; Tegsedi and Waylivra for the treatment of rare diseases; and Evrysdi to treat spinal muscular atrophy (SMA) in adults and children.
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