Key Points
- Director Stephanie Okey sold 15,167 shares on March 10 at an average of $70 for $1,061,690, cutting her holding by 65.47% to 8,000 shares.
- PTC reported a quarterly EPS of ($1.67), missing estimates by $1.46, and revenue of $164.68 million, down 22.7% year-over-year versus consensus of $281.45 million.
- Despite the weak results, analysts maintain a relatively positive view with a consensus rating of "Moderate Buy" and a consensus target price of $82.79 (10 Buys, 4 Holds, 1 Sell).
PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) Director Stephanie Okey sold 15,167 shares of PTC Therapeutics stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $70.00, for a total transaction of $1,061,690.00. Following the sale, the director owned 8,000 shares in the company, valued at approximately $560,000. The trade was a 65.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Stephanie Okey also recently made the following trade(s):
- On Thursday, March 5th, Stephanie Okey sold 6,333 shares of PTC Therapeutics stock. The stock was sold at an average price of $63.38, for a total transaction of $401,385.54.
PTC Therapeutics Trading Up 1.2%
PTCT traded up $0.79 during trading on Friday, hitting $64.15. 264,250 shares of the company traded hands, compared to its average volume of 1,275,732. The company has a market cap of $5.31 billion, a PE ratio of 8.29 and a beta of 0.51. The stock's 50-day simple moving average is $71.98 and its two-hundred day simple moving average is $69.65. PTC Therapeutics, Inc. has a 1 year low of $35.95 and a 1 year high of $87.50.
PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last released its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($1.67) EPS for the quarter, missing the consensus estimate of ($0.21) by ($1.46). The company had revenue of $164.68 million for the quarter, compared to the consensus estimate of $281.45 million. PTC Therapeutics had a net margin of 39.44% and a negative return on equity of 362.45%. The firm's revenue for the quarter was down 22.7% on a year-over-year basis. During the same period last year, the company earned ($0.85) EPS. Equities analysts expect that PTC Therapeutics, Inc. will post -4.52 EPS for the current year.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on PTCT. Barclays restated an "overweight" rating and set a $120.00 price target on shares of PTC Therapeutics in a report on Monday, February 23rd. Wall Street Zen lowered shares of PTC Therapeutics from a "buy" rating to a "hold" rating in a report on Saturday, February 21st. Cantor Fitzgerald restated an "overweight" rating on shares of PTC Therapeutics in a research report on Friday, February 20th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of PTC Therapeutics in a research note on Monday, December 29th. Finally, Royal Bank Of Canada lowered their price objective on shares of PTC Therapeutics from $87.00 to $82.00 and set a "sector perform" rating for the company in a research report on Friday, February 20th. Ten investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $82.79.
Read Our Latest Stock Report on PTC Therapeutics
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the company. Vise Technologies Inc. purchased a new position in shares of PTC Therapeutics during the 2nd quarter worth about $486,000. WCM Investment Management LLC purchased a new stake in PTC Therapeutics in the 3rd quarter worth about $8,919,000. Prudential Financial Inc. lifted its stake in PTC Therapeutics by 35.5% in the second quarter. Prudential Financial Inc. now owns 84,250 shares of the biopharmaceutical company's stock worth $4,115,000 after purchasing an additional 22,060 shares during the last quarter. Sector Gamma AS boosted its position in shares of PTC Therapeutics by 28.0% during the third quarter. Sector Gamma AS now owns 118,112 shares of the biopharmaceutical company's stock valued at $7,249,000 after buying an additional 25,862 shares during the period. Finally, QRG Capital Management Inc. purchased a new position in shares of PTC Therapeutics during the third quarter valued at approximately $2,090,000.
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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