Key Points
- PTC CEO Matthew Klein sold 2,850 shares on April 21 at an average price of $70.91 under a pre-arranged Rule 10b5-1 plan to cover tax withholding, reducing his stake by 0.72% and raising about $202,094.
- PTC reported weak quarterly results—EPS of ($1.67) missed estimates by $1.46 and revenue fell 22.7% year-over-year—yet analysts maintain a consensus "Moderate Buy" with a $84.40 price target amid mixed ratings.
PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) CEO Matthew Klein sold 2,850 shares of the business's stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $70.91, for a total value of $202,093.50. Following the completion of the sale, the chief executive officer owned 394,070 shares of the company's stock, valued at $27,943,503.70. This trade represents a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
PTC Therapeutics Stock Performance
PTCT opened at $68.59 on Friday. The stock has a fifty day moving average of $68.16 and a 200-day moving average of $71.94. The company has a market capitalization of $5.69 billion, a P/E ratio of 8.86 and a beta of 0.55. PTC Therapeutics, Inc. has a fifty-two week low of $35.95 and a fifty-two week high of $87.50.
PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last released its quarterly earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.67) 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 last year, the company posted ($0.85) earnings per share. The company's revenue was down 22.7% on a year-over-year basis. On average, equities research analysts predict that PTC Therapeutics, Inc. will post -0.76 earnings per share for the current fiscal year.
Hedge Funds Weigh In On PTC Therapeutics
Institutional investors have recently modified their holdings of the business. Inspire Investing LLC lifted its position in shares of PTC Therapeutics by 23.1% during the 1st quarter. Inspire Investing LLC now owns 7,559 shares of the biopharmaceutical company's stock worth $515,000 after buying an additional 1,419 shares during the last quarter. Pictet Asset Management Holding SA raised its stake in PTC Therapeutics by 20.9% during the first quarter. Pictet Asset Management Holding SA now owns 1,183,720 shares of the biopharmaceutical company's stock worth $80,063,000 after acquiring an additional 204,763 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in PTC Therapeutics during the first quarter worth about $2,425,000. OP Asset Management Ltd acquired a new position in PTC Therapeutics during the first quarter worth about $2,289,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of PTC Therapeutics by 13.3% in the first quarter. Assenagon Asset Management S.A. now owns 61,397 shares of the biopharmaceutical company's stock worth $4,183,000 after acquiring an additional 7,227 shares during the last quarter.
Analyst Upgrades and Downgrades
PTCT has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of PTC Therapeutics from a "buy" rating to a "hold" rating in a research report on Saturday, February 21st. Barclays restated an "overweight" rating and set a $120.00 price objective on shares of PTC Therapeutics in a research note on Monday, February 23rd. Wells Fargo & Company dropped their price objective on PTC Therapeutics from $93.00 to $86.00 and set an "overweight" rating for the company in a report on Friday, February 20th. Raymond James Financial initiated coverage on PTC Therapeutics in a research report on Friday, April 10th. They set an "outperform" rating and a $108.00 target price for the company. Finally, Morgan Stanley increased their target price on PTC Therapeutics from $90.00 to $92.00 and gave the stock an "overweight" rating in a report on Monday, February 23rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $84.40.
Check Out Our Latest Research Report on PTCT
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.
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