Key Points
- CEO Matthew Klein sold 10,292 PTC Therapeutics shares for approximately $705,722 at an average price of $68.57. The Rule 10b5-1 transaction covered tax obligations from vested equity awards and reduced his direct stake by 2.61%.
- PTC Therapeutics reported stronger-than-expected quarterly results, with $0.92 in adjusted EPS versus a $0.24 consensus estimate and revenue of $360.52 million, up 101.5% year over year.
- Analyst sentiment is broadly positive: the stock has a “Moderate Buy” consensus rating and a $95.75 average price target, while shares recently opened at $70.85.
PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) CEO Matthew Klein sold 10,292 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $68.57, for a total transaction of $705,722.44. Following the sale, the chief executive officer directly owned 383,868 shares of the company's stock, valued at $26,321,828.76. This trade represents a 2.61% decrease in their position. The sale was disclosed in a 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
PTC Therapeutics Stock Up 2.4%
Shares of NASDAQ PTCT opened at $70.85 on Friday. The firm has a market cap of $5.91 billion, a P/E ratio of -122.16, a PEG ratio of 1.92 and a beta of 0.56. PTC Therapeutics, Inc. has a twelve month low of $43.17 and a twelve month high of $90.87. The company has a 50 day moving average of $77.55 and a 200 day moving average of $72.54.
PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.24 by $0.68. The business had revenue of $360.52 million for the quarter, compared to the consensus estimate of $298.63 million. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 3.80%.The company's revenue was up 101.5% compared to the same quarter last year. During the same period last year, the business posted ($0.83) EPS. As a group, equities analysts expect that PTC Therapeutics, Inc. will post 1.3 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on PTCT shares. Zacks Research raised PTC Therapeutics from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 7th. TD Cowen raised shares of PTC Therapeutics from a "hold" rating to a "buy" rating and raised their price target for the company from $75.00 to $90.00 in a report on Friday, May 8th. Royal Bank Of Canada lifted their price target on shares of PTC Therapeutics from $82.00 to $85.00 and gave the stock a "sector perform" rating in a research note on Tuesday, July 7th. Jefferies Financial Group raised shares of PTC Therapeutics from a "hold" rating to a "buy" rating and boosted their price objective for the company from $76.00 to $85.00 in a report on Wednesday, May 27th. Finally, Cantor Fitzgerald increased their price objective on shares of PTC Therapeutics from $124.00 to $130.00 and gave the company an "overweight" rating in a research report on Thursday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $95.75.
Get Our Latest Stock Analysis on PTCT
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the stock. State of Wyoming purchased a new stake in PTC Therapeutics in the 2nd quarter worth approximately $139,000. Summit Global Investments purchased a new position in PTC Therapeutics during the second quarter valued at approximately $615,000. Walleye Capital LLC purchased a new position in PTC Therapeutics during the second quarter valued at approximately $1,592,000. Handelsbanken Fonder AB boosted its position in shares of PTC Therapeutics by 15.1% in the second quarter. Handelsbanken Fonder AB now owns 29,000 shares of the biopharmaceutical company's stock worth $2,366,000 after purchasing an additional 3,800 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of PTC Therapeutics by 58.1% in the second quarter. GAMMA Investing LLC now owns 1,453 shares of the biopharmaceutical company's stock worth $119,000 after purchasing an additional 534 shares during the period.
PTC Therapeutics Company Profile
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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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