Key Points
- Director Glenn Md Phd Steele Jr. sold 12,000 PTC Therapeutics shares for approximately $781,920 at an average price of $65.16 under a pre-arranged Rule 10b5-1 trading plan. His remaining stake declined 34.78% to 22,500 shares.
- PTC Therapeutics reported quarterly EPS of $0.92, beating the $0.24 consensus estimate, while revenue rose 101.5% year over year to $360.52 million. Shares opened at $63.46, near the company’s 52-week low of $61.23.
- Analysts maintain a “Moderate Buy” consensus rating with an average price target of $99.08, while major institutions including BlackRock and Jupiter Topco recently established significant positions.
PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) Director Glenn Md Phd Steele, Jr. sold 12,000 shares of the firm's stock in a transaction on Wednesday, September 30th. The shares were sold at an average price of $65.16, for a total transaction of $781,920.00. Following the sale, the director owned 22,500 shares in the company, valued at approximately $1,466,100. This represents a 34.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
PTC Therapeutics Stock Performance
Shares of PTC Therapeutics stock opened at $63.46 on Friday. The firm has a 50-day simple moving average of $69.39 and a two-hundred day simple moving average of $72.03. The company has a market cap of $5.30 billion, a P/E ratio of -109.41, a price-to-earnings-growth ratio of 1.98 and a beta of 0.49. PTC Therapeutics, Inc. has a fifty-two week low of $61.23 and a fifty-two week high of $90.87.
PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last posted its earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.68. The firm had revenue of $360.52 million for the quarter, compared to analysts' expectations of $298.63 million. During the same period in the previous year, the company earned ($0.83) earnings per share. The company's revenue was up 101.5% compared to the same quarter last year. Equities research analysts forecast that PTC Therapeutics, Inc. will post 1.17 EPS for the current year.
Institutional Investors Weigh In On PTC Therapeutics
Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in PTC Therapeutics during the 2nd quarter worth approximately $1,139,089,000. Jupiter Topco LLC purchased a new position in shares of PTC Therapeutics in the second quarter valued at approximately $590,182,000. Janus Henderson Group PLC lifted its position in shares of PTC Therapeutics by 48.3% in 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 acquiring an additional 2,342,101 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of PTC Therapeutics by 4.7% in the second quarter. Wellington Management Group LLP now owns 4,128,273 shares of the biopharmaceutical company's stock worth $336,743,000 after acquiring an additional 185,663 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of PTC Therapeutics by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 2,016,062 shares of the biopharmaceutical company's stock worth $153,164,000 after acquiring an additional 65,184 shares during the last quarter.
Analysts Set New Price Targets
PTCT has been the topic of a number of recent analyst reports. Leerink Partners initiated coverage on PTC Therapeutics in a research report on Monday, September 14th. They set an "outperform" rating and a $98.00 price target on the stock. Citigroup raised PTC Therapeutics from a "neutral" rating to a "buy" rating and upped their target price for the stock from $75.00 to $108.00 in a research note on Tuesday, June 9th. Morgan Stanley increased their target price on PTC Therapeutics from $93.00 to $104.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. Royal Bank Of Canada lifted their price target on shares of PTC Therapeutics from $82.00 to $85.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 7th. Finally, Wells Fargo & Company boosted their price target on shares of PTC Therapeutics from $106.00 to $109.00 and gave the stock an "overweight" rating in a report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $99.08.
View Our Latest Stock Report on PTC Therapeutics
PTC Therapeutics Company Profile
(
Get Free Report)
PTC Therapeutics, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for rare diseases. Its research programs use technologies designed to address genetic and molecular causes of disease, including RNA biology, protein translation and gene therapy.
The company's commercial portfolio includes Emflaza (deflazacort), a corticosteroid approved in the United States to treat Duchenne muscular dystrophy, and Upstaza (eladocagene exuparvovec), a gene therapy for aromatic L-amino acid decarboxylase deficiency in eligible patients.
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