Key Points
- PTC CEO sale: CEO Matthew Klein sold 3,428 shares on Dec. 2 at an average price of $79.07 for about $271,052, reducing his stake by 0.97% to 349,964 shares (≈$27.67M).
- Earnings beat and valuation: PTC reported $0.20 EPS and $211.0M revenue for the quarter (both above estimates), while the stock trades near $75.76 with a market cap of $6.08B and a P/E of 8.85.
- Mixed market view but strong institutional interest: Analysts show a consensus "Hold" with an average target of $76 (9 Buys, 7 Holds, 1 Sell), even as major institutions like Wellington and State Street have materially increased their holdings.
PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) CEO Matthew Klein sold 3,428 shares of the business's stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $79.07, for a total value of $271,051.96. Following the transaction, the chief executive officer directly owned 349,964 shares of the company's stock, valued at $27,671,653.48. The trade was a 0.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
PTC Therapeutics Price Performance
PTCT stock opened at $75.76 on Thursday. The stock has a market cap of $6.08 billion, a PE ratio of 8.85, a P/E/G ratio of 0.28 and a beta of 0.47. PTC Therapeutics, Inc. has a one year low of $35.95 and a one year high of $87.50. The firm has a 50 day simple moving average of $70.45 and a two-hundred day simple moving average of $57.67.
PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last released its earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, topping analysts' consensus estimates of ($1.19) by $1.39. The company had revenue of $211.01 million during the quarter, compared to the consensus estimate of $177.42 million. PTC Therapeutics had a negative return on equity of 194.11% and a net margin of 42.25%.PTC Therapeutics's quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.39) EPS. On average, research analysts expect that PTC Therapeutics, Inc. will post -4.52 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on the company. Bank of America dropped their price target on PTC Therapeutics from $82.00 to $76.00 and set a "buy" rating for the company in a research note on Wednesday, August 20th. Cowen restated a "hold" rating on shares of PTC Therapeutics in a research note on Wednesday, November 5th. Jefferies Financial Group upped their target price on shares of PTC Therapeutics from $63.00 to $77.00 and gave the stock a "buy" rating in a research note on Tuesday, October 28th. Cantor Fitzgerald restated an "overweight" rating and set a $118.00 target price on shares of PTC Therapeutics in a research note on Wednesday, September 3rd. Finally, Robert W. Baird set a $70.00 price target on shares of PTC Therapeutics in a research report on Friday, August 8th. Nine investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, PTC Therapeutics presently has a consensus rating of "Hold" and an average target price of $76.00.
View Our Latest Research Report on PTCT
Institutional Investors Weigh In On PTC Therapeutics
A number of institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP boosted its holdings in shares of PTC Therapeutics by 13.2% in the first 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 during the period. State Street Corp raised its stake in PTC Therapeutics by 22.1% in the 2nd quarter. State Street Corp now owns 2,996,454 shares of the biopharmaceutical company's stock worth $146,347,000 after acquiring an additional 541,558 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of PTC Therapeutics by 3.2% during the second quarter. Geode Capital Management LLC now owns 1,934,593 shares of the biopharmaceutical company's stock worth $94,497,000 after purchasing an additional 60,707 shares during the period. Jefferies Financial Group Inc. purchased a new stake in shares of PTC Therapeutics in the 3rd quarter valued at $97,252,000. Finally, Driehaus Capital Management LLC grew 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 purchasing an additional 471,586 shares during the period.
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
