PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) Director Michael Schmertzler sold 12,500 shares of the stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $72.94, for a total transaction of $911,750.00. Following the sale, the director owned 1,349,094 shares of the company's stock, valued at approximately $98,402,916.36. This trade represents a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Michael Schmertzler also recently made the following trade(s):
- On Wednesday, August 19th, Michael Schmertzler sold 12,500 shares of PTC Therapeutics stock. The stock was sold at an average price of $73.32, for a total transaction of $916,500.00.
PTC Therapeutics Stock Down 2.4%
PTCT stock opened at $70.09 on Friday. The firm has a market cap of $5.85 billion, a price-to-earnings ratio of -120.84, a PEG ratio of 2.22 and a beta of 0.56. PTC Therapeutics, Inc. has a 12-month low of $48.96 and a 12-month high of $90.87. The company's fifty day simple moving average is $77.08 and its 200 day simple moving average is $72.27.
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 analysts' consensus estimates 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 business had revenue of $360.52 million for the quarter, compared to analysts' expectations of $298.63 million. During the same quarter in the prior year, the firm posted ($0.83) earnings per share. The business's quarterly revenue was up 101.5% compared to the same quarter last year. Research analysts expect that PTC Therapeutics, Inc. will post 1.17 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on PTCT shares. Royal Bank Of Canada upped their target price 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. Jefferies Financial Group upgraded PTC Therapeutics from a "hold" rating to a "buy" rating and lifted their target price for the stock from $76.00 to $85.00 in a report on Wednesday, May 27th. Weiss Ratings lowered PTC Therapeutics from a "sell (d+)" rating to a "sell (d)" rating in a research note on Monday, August 17th. Wall Street Zen cut PTC Therapeutics from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 22nd. Finally, Barclays raised their price objective on shares of PTC Therapeutics from $120.00 to $122.00 and gave the stock an "overweight" rating in a research report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $98.55.
Check Out Our Latest Report on PTCT
Hedge Funds Weigh In On PTC Therapeutics
A number of institutional investors and hedge funds have recently made changes to their positions in PTCT. Empowered Funds LLC acquired a new position in PTC Therapeutics during the 1st quarter worth approximately $1,999,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in PTC Therapeutics by 11.5% in 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 worth $9,109,000 after acquiring an additional 18,504 shares in the last quarter. Quantbot Technologies LP grew its stake in PTC Therapeutics by 280.1% in the second quarter. Quantbot Technologies LP now owns 2,478 shares of the biopharmaceutical company's stock valued at $121,000 after acquiring an additional 1,826 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in PTC Therapeutics in the second quarter valued at approximately $1,661,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of PTC Therapeutics by 247.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,143 shares of the biopharmaceutical company's stock valued at $56,000 after acquiring 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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