Key Points
- PTC Therapeutics insider Neil Gregory Almstead sold 8,130 shares on June 26 at an average price of $85.26, bringing in about $693,164. The sale was made under a pre-arranged Rule 10b5-1 plan, and his ownership fell by 11.91%.
- Almstead has been actively trimming his stake in recent weeks, including sales of 20,960 shares on June 25, 5,323 shares on June 24, 23,749 shares on June 22, and 52,003 shares on April 1.
- PTC Therapeutics reported strong quarterly results, with revenue of $272.55 million beating estimates and rising 43.5% year over year, while analysts currently rate the stock Moderate Buy with an average price target of $91.36.
PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) insider Neil Gregory Almstead sold 8,130 shares of the company's stock in a transaction on Friday, June 26th. The stock was sold at an average price of $85.26, for a total value of $693,163.80. Following the sale, the insider owned 60,137 shares of the company's stock, valued at approximately $5,127,280.62. The trade was a 11.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 shares were sold at an average price of $85.97, for a total value of $1,801,931.20.
- On Wednesday, June 24th, Neil Gregory Almstead sold 5,323 shares of PTC Therapeutics stock. The shares were sold at an average price of $85.03, for a total value of $452,614.69.
- 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 value 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 value of $3,590,287.12.
PTC Therapeutics Price Performance
PTC Therapeutics stock opened at $81.57 on Wednesday. The stock's 50-day moving average is $72.95 and its 200-day moving average is $72.20. The company has a market cap of $6.77 billion, a price-to-earnings ratio of -35.01, a price-to-earnings-growth ratio of 3.75 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 released its quarterly earnings data 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 business 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 EPS. The company's revenue was up 43.5% compared to the same quarter last year. Research analysts anticipate that PTC Therapeutics, Inc. will post 0.78 EPS for the current year.
Institutional Trading of PTC Therapeutics
A number of hedge funds have recently made changes to their positions in the company. Janus Henderson Group PLC lifted its position in shares of PTC Therapeutics by 48.3% during the first quarter. Janus Henderson Group PLC now owns 7,193,433 shares of the biopharmaceutical company's stock worth $489,997,000 after purchasing an additional 2,342,101 shares in the last quarter. Jefferies Financial Group Inc. acquired a new stake in PTC Therapeutics during the 3rd quarter valued at $97,252,000. State Street Corp grew its holdings in PTC Therapeutics by 34.2% during the 4th quarter. State Street Corp now owns 4,206,126 shares of the biopharmaceutical company's stock valued at $319,497,000 after purchasing an additional 1,071,343 shares in the last quarter. Toronto Dominion Bank grew its holdings in PTC Therapeutics by 27.5% during the 4th 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 in the last quarter. Finally, BNP Paribas Financial Markets increased 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
Several research firms have issued reports on PTCT. Raymond James Financial assumed coverage on shares of PTC Therapeutics in a research note on Friday, April 10th. They set an "outperform" rating and a $108.00 price objective for the company. TD Cowen upgraded shares of PTC Therapeutics from a "hold" rating to a "buy" rating and lifted their target price for the company from $75.00 to $90.00 in a report on Friday, May 8th. Citigroup raised shares of PTC Therapeutics from a "neutral" rating to a "buy" rating and upped their price target for the stock from $75.00 to $108.00 in a research report on Tuesday, June 9th. Weiss Ratings lowered PTC Therapeutics from a "hold (c-)" rating to a "sell (d)" rating in a research report on Monday, May 11th. Finally, Royal Bank Of Canada boosted their price objective on PTC Therapeutics from $81.00 to $82.00 and gave the stock a "sector perform" rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $91.36.
Read Our Latest Stock Analysis on PTCT
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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