Key Points
- PTC Therapeutics director Michael Schmertzler sold 2,500 shares for $149,025 at an average price of $59.61 under a pre-arranged Rule 10b5-1 trading plan. He still directly owns 1,291,594 shares, and has made several additional sales since August.
- PTCT shares recently traded at $59.24, near their 52-week low of $58.80 and below both their 50-day and 200-day moving averages. The company has a market capitalization of approximately $4.94 billion.
- PTC Therapeutics reported stronger-than-expected quarterly results, including $0.92 in EPS versus a $0.24 consensus estimate and $360.52 million in revenue, up 101.5% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $95.07.
PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) Director Michael Schmertzler sold 2,500 shares of the business's stock in a transaction dated Wednesday, October 14th. The stock was sold at an average price of $59.61, for a total value of $149,025.00. Following the transaction, the director directly owned 1,291,594 shares of the company's stock, valued at approximately $76,991,918.34. The trade was a 0.19% decrease in their position. The sale was disclosed in a filing with the SEC, 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, October 7th, Michael Schmertzler sold 2,500 shares of PTC Therapeutics stock. The stock was sold at an average price of $63.39, for a total transaction of $158,475.00.
- On Wednesday, September 16th, Michael Schmertzler sold 10,000 shares of PTC Therapeutics stock. The stock was 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 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 value of $911,750.00.
- On Wednesday, August 19th, Michael Schmertzler sold 12,500 shares of PTC Therapeutics stock. The shares were sold at an average price of $73.32, for a total value of $916,500.00.
PTC Therapeutics Price Performance
PTCT stock traded down $1.75 during midday trading on Friday, reaching $59.24. 788,962 shares of the stock were exchanged, compared to its average volume of 1,319,208. The stock has a market capitalization of $4.94 billion, a PE ratio of -102.14, a P/E/G ratio of 1.84 and a beta of 0.49. PTC Therapeutics, Inc. has a 52 week low of $58.80 and a 52 week high of $90.87. The company has a fifty day moving average price of $67.41 and a 200 day moving average price of $71.73.
PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.68. The firm had revenue of $360.52 million during the quarter, compared to analyst estimates of $298.63 million. PTC Therapeutics's revenue for the quarter was up 101.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.83) EPS. As a group, analysts anticipate that PTC Therapeutics, Inc. will post 1.19 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on PTCT shares. Leerink Partners began coverage on PTC Therapeutics in a research note on Monday, September 14th. They issued an "outperform" rating and a $98.00 price objective for the company. Cantor Fitzgerald raised their price objective on shares of PTC Therapeutics from $130.00 to $137.00 and gave the company an "overweight" rating in a report on Tuesday, September 22nd. Barclays lifted their target price 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. Zacks Research lowered shares of PTC Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 6th. Finally, UBS Group reissued a "buy" rating and set a $90.00 target price (up from $80.00) on shares of PTC Therapeutics in a report on Thursday. Eleven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, PTC Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus target price of $95.07.
Get Our Latest Analysis on PTC Therapeutics
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC lifted its holdings in PTC Therapeutics by 16.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the biopharmaceutical company's stock worth $71,000 after buying an additional 151 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in shares of PTC Therapeutics by 1.8% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 13,730 shares of the biopharmaceutical company's stock valued at $1,120,000 after buying an additional 237 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of PTC Therapeutics by 8.5% in the first quarter. PNC Financial Services Group Inc. now owns 3,128 shares of the biopharmaceutical company's stock valued at $213,000 after buying an additional 244 shares during the period. Evolve Private Wealth LLC increased its stake in shares of PTC Therapeutics by 5.2% in the first quarter. Evolve Private Wealth LLC now owns 6,122 shares of the biopharmaceutical company's stock valued at $417,000 after buying an additional 305 shares during the period. Finally, New York State Teachers Retirement System increased its stake in shares of PTC Therapeutics by 0.7% in the first quarter. New York State Teachers Retirement System now owns 44,953 shares of the biopharmaceutical company's stock valued at $3,063,000 after buying an additional 316 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. 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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