Key Points
- PTC Therapeutics insider Neil Gregory Almstead sold 20,960 shares on June 25 at an average price of $85.97, generating about $1.8 million. The sale reduced his direct ownership by 25.85% and was made under a pre-arranged Rule 10b5-1 trading plan.
- The insider has been active in selling shares recently, including additional sales on June 24, June 22, and April 1. Those transactions totaled several million dollars more, indicating a pattern of planned dispositions.
- PTCT has traded near its 52-week high after a strong earnings report, with the stock opening at $84.43 versus a 1-year high of $87.50. The company beat quarterly EPS and revenue estimates, and analysts currently rate the stock a Moderate Buy with a consensus target of $91.36.
PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) insider Neil Gregory Almstead sold 5,323 shares of the firm's stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $85.03, for a total value of $452,614.69. Following the completion of the transaction, the insider owned 60,137 shares in the company, valued at approximately $5,113,449.11. This represents a 8.13% 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 Thursday, June 25th, Neil Gregory Almstead sold 20,960 shares of PTC Therapeutics stock. The stock was sold at an average price of $85.97, for a total value of $1,801,931.20.
- On Monday, June 22nd, Neil Gregory Almstead sold 23,749 shares of PTC Therapeutics stock. The shares were sold at an average price of $80.90, for a total transaction of $1,921,294.10.
- On Wednesday, April 1st, Neil Gregory Almstead sold 52,003 shares of PTC Therapeutics stock. The stock was sold at an average price of $69.04, for a total transaction of $3,590,287.12.
PTC Therapeutics Price Performance
Shares of NASDAQ PTCT opened at $84.43 on Friday. PTC Therapeutics, Inc. has a fifty-two week low of $43.17 and a fifty-two week high of $87.50. The firm has a market capitalization of $7.00 billion, a P/E ratio of -36.24, a P/E/G ratio of 3.89 and a beta of 0.56. The company's 50 day simple moving average is $72.57 and its 200 day simple moving average is $72.12.
PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.42. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. The company had revenue of $272.55 million during the quarter, compared to analysts' expectations of $217.42 million. During the same quarter in the previous year, the company posted $10.04 EPS. The business's revenue for the quarter was up 43.5% compared to the same quarter last year. Sell-side analysts expect that PTC Therapeutics, Inc. will post 0.78 EPS for the current fiscal year.
Hedge Funds Weigh In On PTC Therapeutics
A number of large investors have recently made changes to their positions in PTCT. Janus Henderson Group PLC boosted its stake in shares of PTC Therapeutics by 48.3% in the first quarter. Janus Henderson Group PLC now owns 7,193,433 shares of the biopharmaceutical company's stock valued at $489,997,000 after buying an additional 2,342,101 shares during the period. Jefferies Financial Group Inc. acquired a new stake in shares of PTC Therapeutics in the 3rd quarter valued at approximately $97,252,000. State Street Corp increased its holdings in shares of PTC Therapeutics by 34.2% during the fourth quarter. State Street Corp now owns 4,206,126 shares of the biopharmaceutical company's stock worth $319,497,000 after buying an additional 1,071,343 shares in the last quarter. Toronto Dominion Bank raised its position in PTC Therapeutics by 27.5% in the fourth quarter. Toronto Dominion Bank now owns 4,138,215 shares of the biopharmaceutical company's stock valued at $314,339,000 after purchasing an additional 891,690 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in PTC Therapeutics by 4,013.1% during the 4th quarter. BNP Paribas Financial Markets now owns 828,662 shares of the biopharmaceutical company's stock worth $62,945,000 after buying an additional 808,515 shares during the period.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on the stock. Jefferies Financial Group raised shares of PTC Therapeutics from a "hold" rating to a "buy" rating and lifted their price target for the stock from $76.00 to $85.00 in a research report on Wednesday, May 27th. Weiss Ratings lowered PTC Therapeutics from a "hold (c-)" rating to a "sell (d)" rating in a report on Monday, May 11th. Truist Financial upgraded PTC Therapeutics to a "strong-buy" rating in a report on Wednesday, March 25th. 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 report on Friday, May 8th. Finally, Raymond James Financial started coverage on PTC Therapeutics in a research report on Friday, April 10th. They issued an "outperform" rating and a $108.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $91.36.
Read 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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