Key Points
- CEO Matthew Klein sold 12,572 shares of PTC Therapeutics on May 14 at an average price of $72.95, worth about $917,127. The sale was made under a pre-arranged Rule 10b5-1 plan and was tied to tax withholding from vested equity awards.
- PTC Therapeutics beat quarterly expectations, posting a smaller-than-expected loss of $0.03 per share versus the $0.45 loss analysts had projected. Revenue came in at $272.55 million, up 43.5% year over year and well above estimates.
- Analyst sentiment remains mixed but constructive, with a consensus rating of “Moderate Buy” and an average target price of $88.36. Recent updates included upgrades from TD Cowen and Wells Fargo, while Jefferies downgraded the stock to hold.
PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) CEO Matthew Klein sold 12,572 shares of PTC Therapeutics stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $72.95, for a total value of $917,127.40. Following the completion of the transaction, the chief executive officer owned 393,998 shares of the company's stock, valued at $28,742,154.10. The trade was a 3.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible 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
Shares of PTCT opened at $71.47 on Friday. The stock has a 50-day simple moving average of $68.57 and a 200-day simple moving average of $72.32. The stock has a market capitalization of $5.93 billion, a PE ratio of -30.67, a PEG ratio of 13.56 and a beta of 0.53. PTC Therapeutics, Inc. has a 1 year low of $43.17 and a 1 year high of $87.50.
PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.42. The business had revenue of $272.55 million during the quarter, compared to analysts' expectations of $217.42 million. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 22.58%.The business's quarterly revenue was up 43.5% compared to the same quarter last year. During the same quarter last year, the business posted $10.04 EPS. Analysts predict that PTC Therapeutics, Inc. will post 0.19 EPS for the current year.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on the company. Jefferies Financial Group cut PTC Therapeutics from a "buy" rating to a "hold" rating and decreased their price objective for the company from $91.00 to $76.00 in a research note on Monday, March 30th. TD Cowen raised PTC Therapeutics from a "hold" rating to a "buy" rating and raised their target price for the stock from $75.00 to $90.00 in a research report on Friday, May 8th. Raymond James Financial assumed coverage on PTC Therapeutics in a research report on Friday, April 10th. They set an "outperform" rating and a $108.00 target price on the stock. Barclays reissued an "overweight" rating and set a $120.00 target price on shares of PTC Therapeutics in a research report on Monday, February 23rd. Finally, Wells Fargo & Company raised their target price on PTC Therapeutics from $86.00 to $95.00 and gave the stock an "overweight" rating in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $88.36.
Get Our Latest Stock Report on PTC Therapeutics
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its position in PTC Therapeutics by 101.3% during the third quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company's stock worth $28,000 after buying an additional 236 shares during the period. PNC Financial Services Group Inc. increased its position in PTC Therapeutics by 8.5% during the first quarter. PNC Financial Services Group Inc. now owns 3,128 shares of the biopharmaceutical company's stock worth $213,000 after buying an additional 244 shares during the period. Allworth Financial LP increased its position in PTC Therapeutics by 63.8% during the fourth quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company's stock worth $48,000 after buying an additional 247 shares during the period. Optiver Holding B.V. increased its position in PTC Therapeutics by 96.5% during the third quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company's stock worth $31,000 after buying an additional 249 shares during the period. Finally, Measured Wealth Private Client Group LLC increased its position in PTC Therapeutics by 5.6% during the fourth quarter. Measured Wealth Private Client Group LLC now owns 4,963 shares of the biopharmaceutical company's stock worth $377,000 after buying an additional 265 shares during the period.
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.
Featured Stories
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].
