Key Points
- Insider sale: PTC Therapeutics insider Neil Gregory Almstead sold 23,749 shares for about $1.92 million at an average price of $80.90. The transaction was made under a pre-arranged Rule 10b5-1 trading plan, and it reduced his stake by 28.31%.
- Stock and earnings update: PTC Therapeutics stock was up 2.8% and traded around $84.41, near its 12-month high of $87.50. The company recently beat quarterly earnings expectations, reporting a smaller-than-expected loss and revenue of $272.55 million, up 43.5% year over year.
- Analyst sentiment: Wall Street remains cautiously bullish, with a consensus rating of Moderate Buy and an average price target of $91.36. Recent upgrades came from Jefferies and Citi, though Weiss Ratings downgraded the stock to sell.
PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) insider Neil Gregory Almstead sold 23,749 shares of the business's stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $80.90, for a total value of $1,921,294.10. Following the sale, the insider owned 60,137 shares of the company's stock, valued at approximately $4,865,083.30. The trade was a 28.31% decrease in their position. The transaction was disclosed in a legal filing 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.
Neil Gregory Almstead also recently made the following trade(s):
- On Wednesday, April 1st, Neil Gregory Almstead sold 52,003 shares of PTC Therapeutics stock. The shares were sold at an average price of $69.04, for a total value of $3,590,287.12.
PTC Therapeutics Stock Up 2.8%
PTC Therapeutics stock opened at $84.41 on Thursday. The business's 50-day simple moving average is $72.12 and its 200 day simple moving average is $71.98. The stock has a market cap of $7.00 billion, a price-to-earnings ratio of -36.23, a P/E/G ratio of 3.78 and a beta of 0.56. PTC Therapeutics, Inc. has a 12-month low of $43.17 and a 12-month 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 for the quarter, topping 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 firm had revenue of $272.55 million during the quarter, compared to analysts' expectations of $217.42 million. During the same period in the previous year, the business posted $10.04 EPS. The company's quarterly revenue was up 43.5% compared to the same quarter last year. As a group, sell-side analysts expect that PTC Therapeutics, Inc. will post 0.78 EPS for the current year.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on PTCT shares. Jefferies Financial Group raised shares of PTC Therapeutics from a "hold" rating to a "buy" rating and boosted their price target for the stock from $76.00 to $85.00 in a research note on Wednesday, May 27th. Royal Bank Of Canada raised their price objective on shares of PTC Therapeutics from $81.00 to $82.00 and gave the company a "sector perform" rating in a research note on Friday, May 8th. Truist Financial raised shares of PTC Therapeutics to a "strong-buy" rating in a report on Wednesday, March 25th. Weiss Ratings cut shares of PTC Therapeutics from a "hold (c-)" rating to a "sell (d)" rating in a research report on Monday, May 11th. Finally, Citigroup raised PTC Therapeutics from a "neutral" rating to a "buy" rating and increased their price target for the company from $75.00 to $108.00 in a research note on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $91.36.
Read Our Latest Report on PTCT
Institutional Trading of PTC Therapeutics
Institutional investors and hedge funds have recently modified their holdings of the stock. Empowered Funds LLC acquired a new stake in shares of PTC Therapeutics in the 1st quarter valued at approximately $1,999,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in PTC Therapeutics by 11.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 178,755 shares of the biopharmaceutical company's stock valued at $9,109,000 after purchasing an additional 18,504 shares during the period. Quantbot Technologies LP grew its holdings in PTC Therapeutics by 280.1% during the second quarter. Quantbot Technologies LP now owns 2,478 shares of the biopharmaceutical company's stock valued at $121,000 after purchasing an additional 1,826 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in PTC Therapeutics during the second quarter valued at approximately $1,661,000. Finally, EverSource Wealth Advisors LLC increased its stake in PTC Therapeutics by 247.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,143 shares of the biopharmaceutical company's stock valued at $56,000 after purchasing an additional 814 shares in the last quarter.
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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