Key Points
- Insider sale: PTC Therapeutics insider Eric Pauwels sold 21,277 shares at $75.00 each, totaling about $1.6 million. The sale, made under a pre-arranged Rule 10b5-1 plan, reduced his ownership by 22.47%.
- Stock and fundamentals: PTCT shares were up 0.6% to $75.14, near the middle of their 52-week range of $43.17 to $87.50. The company has a market cap of $6.23 billion and remains unprofitable, with a negative P/E ratio.
- Earnings and analyst sentiment: PTC Therapeutics recently beat quarterly EPS and revenue estimates, reporting $272.55 million in revenue, up 43.5% year over year. Analysts are broadly positive, with a consensus rating of Moderate Buy and an average price target of $91.36.
PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) insider Eric Pauwels sold 21,277 shares of PTC Therapeutics stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $75.00, for a total value of $1,595,775.00. Following the sale, the insider owned 73,411 shares in the company, valued at $5,505,825. This represents a 22.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
PTC Therapeutics Stock Up 0.6%
NASDAQ PTCT opened at $75.14 on Friday. PTC Therapeutics, Inc. has a twelve month low of $43.17 and a twelve month high of $87.50. The firm has a market capitalization of $6.23 billion, a PE ratio of -32.25, a P/E/G ratio of 3.44 and a beta of 0.56. The stock's 50 day moving average is $70.54 and its 200 day moving average is $72.17.
PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.42. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 22.58%.The company had revenue of $272.55 million for the quarter, compared to analyst estimates of $217.42 million. During the same period in the previous year, the company posted $10.04 earnings per share. The firm's revenue was up 43.5% on a year-over-year basis. On average, research analysts anticipate that PTC Therapeutics, Inc. will post 0.78 earnings per share for the current year.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans purchased a new position in PTC Therapeutics during the fourth quarter valued at $4,191,000. Teachers Retirement System of The State of Kentucky raised its stake in shares of PTC Therapeutics by 86.9% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 40,858 shares of the biopharmaceutical company's stock worth $3,103,000 after purchasing an additional 19,000 shares during the last quarter. Jefferies Financial Group Inc. purchased a new position in shares of PTC Therapeutics in the third quarter worth $97,252,000. Ritholtz Wealth Management purchased a new position in shares of PTC Therapeutics in the fourth quarter worth $1,863,000. Finally, Comerica Bank raised its stake in shares of PTC Therapeutics by 3,231.9% in the fourth quarter. Comerica Bank now owns 17,426 shares of the biopharmaceutical company's stock worth $1,324,000 after purchasing an additional 16,903 shares during the last quarter.
Analyst Ratings Changes
Several research firms recently weighed in on PTCT. Citigroup upgraded PTC Therapeutics from a "neutral" rating to a "buy" rating and lifted their price target for the company from $75.00 to $108.00 in a research report on Tuesday. Raymond James Financial began coverage on PTC Therapeutics in a research report on Friday, April 10th. They set an "outperform" rating and a $108.00 price target on the stock. Jefferies Financial Group upgraded PTC Therapeutics from a "hold" rating to a "buy" rating and lifted their price target for the company from $76.00 to $85.00 in a research report on Wednesday, May 27th. TD Cowen upgraded PTC Therapeutics from a "hold" rating to a "buy" rating and lifted their price objective for the company from $75.00 to $90.00 in a research note on Friday, May 8th. Finally, Wells Fargo & Company lifted their price objective on PTC Therapeutics from $86.00 to $95.00 and gave the company an "overweight" rating in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $91.36.
Get Our Latest 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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