Key Points
- Director Michael Schmertzler sold 2,500 PTC Therapeutics shares at an average price of $63.39, generating $158,475. The transaction was made under a pre-arranged Rule 10b5-1 plan, leaving him with 1,294,094 shares.
- PTC Therapeutics shares were trading at $64.70, with a market capitalization of about $5.4 billion and a 12-month range of $61.23 to $90.87. The stock was reported up 3.4%.
- The company’s latest quarterly results exceeded expectations, with $0.92 in earnings per share and $360.52 million in revenue, up 101.5% year over year. Analysts maintained a Moderate Buy consensus rating with an average price target of $98.25.
PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) Director Michael Schmertzler sold 2,500 shares of the firm's stock in a transaction dated Wednesday, October 7th. The shares were sold at an average price of $63.39, for a total transaction of $158,475.00. Following the sale, the director directly owned 1,294,094 shares in the company, valued at approximately $82,032,618.66. The trade was a 0.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 16th, Michael Schmertzler sold 10,000 shares of PTC Therapeutics stock. The shares were sold at an average price of $67.12, for a total transaction of $671,200.00.
- On Wednesday, September 9th, Michael Schmertzler sold 10,000 shares of PTC Therapeutics stock. The shares were sold at an average price of $67.84, for a total transaction of $678,400.00.
- On Wednesday, August 26th, Michael Schmertzler sold 12,500 shares of PTC Therapeutics stock. The stock was 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 Trading Up 3.4%
NASDAQ:PTCT opened at $64.70 on Friday. The company has a market cap of $5.40 billion, a PE ratio of -111.55, a price-to-earnings-growth ratio of 1.93 and a beta of 0.49. The company has a 50 day simple moving average of $68.37 and a two-hundred day simple moving average of $71.92. PTC Therapeutics, Inc. has a 12 month low of $61.23 and a 12 month high of $90.87.
PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.68. The firm had revenue of $360.52 million for the quarter, compared to the consensus estimate of $298.63 million. PTC Therapeutics's quarterly revenue was up 101.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.83) earnings per share. Research analysts forecast that PTC Therapeutics, Inc. will post 1.17 earnings per share for the current year.
Hedge Funds Weigh In On PTC Therapeutics
Several institutional investors and hedge funds have recently bought and sold shares of PTCT. Allworth Financial LP bought a new stake in PTC Therapeutics during the second quarter valued at about $67,000. Harbor Investment Advisory LLC bought a new position in shares of PTC Therapeutics in the second quarter worth about $81,000. EverSource Wealth Advisors LLC boosted its stake in shares of PTC Therapeutics by 16.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the biopharmaceutical company's stock worth $71,000 after acquiring an additional 151 shares during the period. Quantbot Technologies LP purchased a new stake in shares of PTC Therapeutics during the second quarter worth about $112,000. Finally, GAMMA Investing LLC raised its stake in PTC Therapeutics by 58.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,453 shares of the biopharmaceutical company's stock valued at $119,000 after purchasing an additional 534 shares during the period.
Analysts Set New Price Targets
Several research analysts have issued reports on the company. Wall Street Zen cut PTC Therapeutics from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Zacks Research lowered shares of PTC Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 6th. Barclays increased their price objective on shares of PTC Therapeutics from $120.00 to $122.00 and gave the stock an "overweight" rating in a research note on Friday, August 14th. Leerink Partners initiated coverage on shares of PTC Therapeutics in a report on Monday, September 14th. They issued an "outperform" rating and a $98.00 price objective on the stock. Finally, Cantor Fitzgerald boosted their target price on shares of PTC Therapeutics from $130.00 to $137.00 and gave the company an "overweight" rating in a research report on Tuesday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $98.25.
Check Out Our Latest Stock Report on PTC Therapeutics
About PTC Therapeutics
(
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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