Key Points
- Director Michael Schmertzler sold 12,500 shares of PTC Therapeutics at an average price of $73.32, generating $916,500. The transaction was made under a pre-arranged Rule 10b5-1 trading plan, leaving him with 1,374,094 shares.
- PTC Therapeutics reported quarterly EPS of $0.92, beating estimates of $0.24, while revenue rose 101.5% year over year to $360.52 million. Despite the improved results, the company posted a negative net margin of 3.80%.
- Analysts maintain a “Moderate Buy” consensus with an average price target of $98.55, well above the stock’s reported $69.82 opening price. Recent targets range from $85 to $130, though ratings include two Holds and two Sells.
PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) Director Michael Schmertzler sold 12,500 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $73.32, for a total transaction of $916,500.00. Following the completion of the sale, the director directly owned 1,374,094 shares in the company, valued at approximately $100,748,572.08. This represents a 0.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
PTC Therapeutics Trading Down 1.0%
PTCT stock opened at $69.82 on Friday. PTC Therapeutics, Inc. has a 12 month low of $48.28 and a 12 month high of $90.87. The company has a 50-day moving average price of $77.62 and a 200 day moving average price of $72.35. The stock has a market cap of $5.83 billion, a PE ratio of -120.38, a P/E/G ratio of 2.18 and a beta of 0.56.
PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its quarterly 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. PTC Therapeutics had a negative net margin of 3.80% and a negative return on equity of 362.45%. The company had revenue of $360.52 million for the quarter, compared to the consensus estimate of $298.63 million. During the same period in the prior year, the firm posted ($0.83) EPS. The firm's revenue was up 101.5% compared to the same quarter last year. Sell-side analysts forecast that PTC Therapeutics, Inc. will post 1.17 EPS for the current year.
Analysts Set New Price Targets
A number of research analysts have recently commented on the company. Jefferies Financial Group raised PTC Therapeutics from a "hold" rating to a "buy" rating and upped their target price for the company from $76.00 to $85.00 in a research note on Wednesday, May 27th. Citigroup raised PTC Therapeutics from a "neutral" rating to a "buy" rating and raised their price target for the stock from $75.00 to $108.00 in a research note on Tuesday, June 9th. Weiss Ratings cut PTC Therapeutics from a "sell (d+)" rating to a "sell (d)" rating in a report on Monday. Royal Bank Of Canada upped their price objective on PTC Therapeutics from $82.00 to $85.00 and gave the company a "sector perform" rating in a research report on Tuesday, July 7th. Finally, Cantor Fitzgerald increased their target price on PTC Therapeutics from $124.00 to $130.00 and gave the stock an "overweight" rating in a research note on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $98.55.
View Our Latest Report on PTC Therapeutics
Institutional Investors Weigh In On PTC Therapeutics
Several large investors have recently added to or reduced their stakes in the stock. UMB Bank n.a. purchased a new stake in PTC Therapeutics in the 4th quarter valued at about $26,000. Comerica Bank increased its position in shares of PTC Therapeutics by 868.5% during the third quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company's stock worth $32,000 after acquiring an additional 469 shares during the period. Salomon & Ludwin LLC purchased a new position in shares of PTC Therapeutics during the fourth quarter worth approximately $41,000. Allworth Financial LP raised its stake in shares of PTC Therapeutics by 63.8% during the fourth quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company's stock valued at $48,000 after acquiring an additional 247 shares in the last quarter. Finally, First Horizon Corp bought a new stake in shares of PTC Therapeutics during the fourth quarter valued at approximately $53,000.
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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