Key Points
- Director Michael Schmertzler sold 10,000 PTC Therapeutics shares for approximately $671,200 under a pre-arranged Rule 10b5-1 trading plan, reducing his ownership by 0.76% to 1.31 million shares.
- PTC Therapeutics reported quarterly revenue of $360.5 million and EPS of $0.92, exceeding analyst estimates, while revenue increased 101.5% year over year.
- Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and $98.50 price target; the stock recently opened at $65.37, below its 50- and 200-day moving averages near $72.
PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) Director Michael Schmertzler sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $67.12, for a total value of $671,200.00. Following the sale, the director directly owned 1,306,594 shares in the company, valued at approximately $87,698,589.28. This represents a 0.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Michael Schmertzler also recently made the following trade(s):
- On Wednesday, September 9th, Michael Schmertzler sold 10,000 shares of PTC Therapeutics stock. The stock was sold at an average price of $67.84, for a total value of $678,400.00.
- On Wednesday, August 26th, Michael Schmertzler sold 12,500 shares of PTC Therapeutics stock. The shares were sold at an average price of $72.94, for a total transaction of $911,750.00.
- 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 Performance
PTC Therapeutics stock opened at $65.37 on Friday. The firm's 50-day moving average is $72.27 and its 200-day moving average is $72.10. PTC Therapeutics, Inc. has a 1 year low of $57.74 and a 1 year high of $90.87. The company has a market cap of $5.46 billion, a P/E ratio of -112.71, a PEG ratio of 2.10 and a beta of 0.55.
PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $0.92 earnings per share 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 during the quarter, compared to the consensus estimate of $298.63 million. During the same quarter in the prior year, the firm earned ($0.83) EPS. The company's revenue for the quarter was up 101.5% compared to the same quarter last year. As a group, sell-side analysts predict that PTC Therapeutics, Inc. will post 1.17 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on the company. Wells Fargo & Company lifted their target price on PTC Therapeutics from $106.00 to $109.00 and gave the company an "overweight" rating in a research note on Thursday, August 13th. Cantor Fitzgerald increased their price target on PTC Therapeutics from $124.00 to $130.00 and gave the stock an "overweight" rating in a research report on Thursday, July 16th. Royal Bank Of Canada raised their price target on PTC Therapeutics from $82.00 to $85.00 and gave the stock a "sector perform" rating in a report on Tuesday, July 7th. Jefferies Financial Group upgraded 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 research report on Wednesday, May 27th. Finally, Wall Street Zen upgraded PTC Therapeutics from a "buy" rating to a "strong-buy" rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, PTC Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus price target of $98.50.
Read Our Latest Stock Analysis on PTC Therapeutics
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. bought a new position in PTC Therapeutics in the 2nd quarter worth about $1,139,089,000. Jupiter Topco LLC acquired a new stake in shares of PTC Therapeutics in the second quarter valued at approximately $590,182,000. Janus Henderson Group PLC raised its holdings 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 valued at $489,997,000 after buying an additional 2,342,101 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of PTC Therapeutics by 4.7% during the second quarter. Wellington Management Group LLP now owns 4,128,273 shares of the biopharmaceutical company's stock valued at $336,743,000 after buying an additional 185,663 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of PTC Therapeutics by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 2,016,062 shares of the biopharmaceutical company's stock worth $153,164,000 after buying an additional 65,184 shares during the period.
About PTC Therapeutics
(
Get Free Report)
PTC Therapeutics, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for rare diseases. The company uses technologies involving RNA biology, gene therapy and small-molecule drug discovery to address conditions with limited treatment options, including rare neurological and metabolic disorders.
PTC's commercial portfolio has included Translarna (ataluren), an investigational treatment in some markets for Duchenne muscular dystrophy associated with a nonsense mutation, and Emflaza (deflazacort), a corticosteroid approved in the United States for Duchenne muscular dystrophy.
Further Reading
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