Key Points
- CEO Matthew Klein sold 2,662 shares at an average price of $64.08 for about $170,581, cutting his stake by 0.67% to 396,920 shares valued at roughly $25.43 million.
- PTC posted a significant earnings miss, reporting EPS of ($1.67) vs. a ($0.21) estimate and revenue of $164.7M versus $281.5M expected, with revenue down 22.7% year-over-year.
- Despite the weak quarter, the stock carries a consensus "Moderate Buy" rating with an average target of $82.79 and major institutions (e.g., Janus, State Street, TD, Jefferies) have recently added or increased positions.
PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) CEO Matthew Klein sold 2,662 shares of the stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $64.08, for a total value of $170,580.96. Following the completion of the sale, the chief executive officer owned 396,920 shares of the company's stock, valued at $25,434,633.60. This trade represents a 0.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
PTC Therapeutics Price Performance
NASDAQ PTCT opened at $64.49 on Friday. PTC Therapeutics, Inc. has a one year low of $35.95 and a one year high of $87.50. The firm has a market cap of $5.34 billion, a P/E ratio of 8.33 and a beta of 0.51. The stock's 50-day moving average is $71.73 and its 200-day moving average is $69.75.
PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($1.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($1.46). PTC Therapeutics had a net margin of 39.44% and a negative return on equity of 362.45%. The business had revenue of $164.68 million during the quarter, compared to analyst estimates of $281.45 million. During the same quarter in the prior year, the firm posted ($0.85) earnings per share. PTC Therapeutics's revenue for the quarter was down 22.7% compared to the same quarter last year. Equities analysts anticipate that PTC Therapeutics, Inc. will post -4.52 EPS for the current year.
Institutional Investors Weigh In On PTC Therapeutics
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jefferies Financial Group Inc. bought a new position in PTC Therapeutics in the third quarter valued at approximately $97,252,000. Janus Henderson Group PLC increased its position in shares of PTC Therapeutics by 28.6% during the 4th quarter. Janus Henderson Group PLC now owns 4,851,332 shares of the biopharmaceutical company's stock worth $368,587,000 after purchasing an additional 1,077,776 shares during the last quarter. State Street Corp raised its stake in shares of PTC Therapeutics by 34.2% during the 4th quarter. State Street Corp now owns 4,206,126 shares of the biopharmaceutical company's stock worth $319,497,000 after purchasing an additional 1,071,343 shares in the last quarter. Toronto Dominion Bank raised its stake in shares of PTC Therapeutics by 27.5% during the 4th quarter. Toronto Dominion Bank now owns 4,138,215 shares of the biopharmaceutical company's stock worth $314,339,000 after purchasing an additional 891,690 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of PTC Therapeutics by 4,013.1% in the 4th quarter. BNP Paribas Financial Markets now owns 828,662 shares of the biopharmaceutical company's stock valued at $62,945,000 after buying an additional 808,515 shares during the last quarter.
Analysts Set New Price Targets
PTCT has been the subject of several research reports. Cantor Fitzgerald reissued an "overweight" rating on shares of PTC Therapeutics in a research report on Friday, February 20th. Wells Fargo & Company lowered their target price on PTC Therapeutics from $93.00 to $86.00 and set an "overweight" rating for the company in a report on Friday, February 20th. Bank of America cut their price target on PTC Therapeutics from $97.00 to $93.00 and set a "buy" rating on the stock in a report on Friday, February 20th. Royal Bank Of Canada reduced their price objective on 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. Finally, Morgan Stanley increased their price objective on PTC Therapeutics from $90.00 to $92.00 and gave the stock an "overweight" rating in a report on Monday, February 23rd. Ten research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $82.79.
Get Our Latest Stock Analysis on PTC Therapeutics
PTC Therapeutics Company Profile
(
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.
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].
