Key Points
- Insider sold 40,290 shares: PTC director Eric Pauwels sold 40,290 shares on Dec. 17 at an average $75.43 for ~$3.04M (trimming his position by 36.41% to 70,373 shares) and also sold 3,202 shares on Dec. 18 at $75.06.
- PTC posted a surprise quarter—EPS $0.20 vs. consensus -$1.19 and revenue $211.0M vs. $177.4M (revenue +7.2% YoY)—the stock traded up ~5.3%, while analysts’ consensus is a Hold with an average target of $76 and several firms raising price targets.
PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) insider Eric Pauwels sold 3,202 shares of the company's stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $75.06, for a total transaction of $240,342.12. Following the completion of the sale, the insider owned 70,373 shares in the company, valued at $5,282,197.38. This represents a 4.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Eric Pauwels also recently made the following trade(s):
- On Wednesday, December 17th, Eric Pauwels sold 40,290 shares of PTC Therapeutics stock. The shares were sold at an average price of $75.43, for a total transaction of $3,039,074.70.
PTC Therapeutics Stock Performance
Shares of PTCT opened at $78.57 on Friday. The stock has a 50 day moving average price of $73.57 and a two-hundred day moving average price of $59.98. The firm has a market capitalization of $6.31 billion, a P/E ratio of 9.18, a P/E/G ratio of 0.27 and a beta of 0.47. PTC Therapeutics, Inc. has a 52 week low of $35.95 and a 52 week high of $87.50.
PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last posted its earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, beating analysts' consensus estimates of ($1.19) by $1.39. The company had revenue of $211.01 million for the quarter, compared to analyst estimates of $177.42 million. PTC Therapeutics had a negative return on equity of 194.11% and a net margin of 42.25%.The company's revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the company earned ($1.39) earnings per share. On average, equities analysts forecast that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current year.
Institutional Trading of PTC Therapeutics
Several hedge funds have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC grew its position in shares of PTC Therapeutics by 101.3% during the 3rd quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company's stock valued at $28,000 after acquiring an additional 236 shares during the period. Optiver Holding B.V. raised its holdings in shares of PTC Therapeutics by 96.5% in the 3rd quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company's stock worth $31,000 after purchasing an additional 249 shares during the period. Comerica Bank lifted its stake in PTC Therapeutics by 868.5% in the third quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company's stock valued at $32,000 after purchasing an additional 469 shares during the last quarter. Quantbot Technologies LP grew its holdings in PTC Therapeutics by 545.5% during the first quarter. Quantbot Technologies LP now owns 652 shares of the biopharmaceutical company's stock valued at $33,000 after purchasing an additional 551 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in PTC Therapeutics by 84.2% in the first quarter. PNC Financial Services Group Inc. now owns 700 shares of the biopharmaceutical company's stock worth $36,000 after buying an additional 320 shares during the last quarter.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on PTCT shares. TD Cowen upped their target price on shares of PTC Therapeutics from $50.00 to $63.00 and gave the stock a "hold" rating in a research note on Wednesday, November 5th. Jefferies Financial Group boosted their price target on shares of PTC Therapeutics from $63.00 to $77.00 and gave the stock a "buy" rating in a report on Tuesday, October 28th. Weiss Ratings reiterated a "hold (c)" rating on shares of PTC Therapeutics in a research note on Monday. Wall Street Zen cut shares of PTC Therapeutics from a "buy" rating to a "hold" rating in a research report on Saturday, December 6th. Finally, Citigroup upped their target price on PTC Therapeutics from $50.00 to $75.00 and gave the company a "neutral" rating in a report on Wednesday, November 5th. Nine research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $76.00.
Read Our Latest Stock Analysis on PTC Therapeutics
About PTC Therapeutics
(
Get Free Report)
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.
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