PTC Therapeutics (NASDAQ:PTCT) CEO Matthew Klein Sells 3,428 Shares

PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Matthew Klein sold 3,428 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $79.07, for a total value of $271,051.96. Following the completion of the sale, the chief executive officer owned 349,964 shares of the company’s stock, valued at approximately $27,671,653.48. This trade represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

PTC Therapeutics Stock Performance

PTC Therapeutics stock opened at $75.76 on Thursday. PTC Therapeutics, Inc. has a 52 week low of $35.95 and a 52 week high of $87.50. The firm has a market capitalization of $6.08 billion, a PE ratio of 8.85, a PEG ratio of 0.28 and a beta of 0.47. The business’s 50-day simple moving average is $70.45 and its 200-day simple moving average is $57.67.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.20 EPS for the quarter, beating the consensus estimate of ($1.19) by $1.39. The firm had revenue of $211.01 million during the quarter, compared to analysts’ expectations of $177.42 million. PTC Therapeutics had a negative return on equity of 194.11% and a net margin of 42.25%.The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.39) EPS. Research analysts forecast that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PTCT shares. TD Cowen increased their price objective on shares of PTC Therapeutics from $50.00 to $63.00 and gave the company a “hold” rating in a report on Wednesday, November 5th. Cantor Fitzgerald restated an “overweight” rating and set a $118.00 target price on shares of PTC Therapeutics in a report on Wednesday, September 3rd. Jefferies Financial Group lifted their target price on PTC Therapeutics from $63.00 to $77.00 and gave the company a “buy” rating in a research report on Tuesday, October 28th. Wells Fargo & Company raised their price target on PTC Therapeutics from $73.00 to $93.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Finally, Barclays boosted their price target on PTC Therapeutics from $46.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 5th. Nine equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $76.00.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its position in shares of PTC Therapeutics by 101.3% during the 3rd quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 236 shares during the period. Optiver Holding B.V. grew its stake in PTC Therapeutics by 96.5% in the 3rd quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 249 shares during the period. Comerica Bank increased its stake in shares of PTC Therapeutics by 868.5% during the 3rd quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 469 shares during the last quarter. Quantbot Technologies LP lifted its holdings in PTC Therapeutics by 545.5% during the first quarter. Quantbot Technologies LP now owns 652 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 551 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in PTC Therapeutics by 84.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 700 shares of the biopharmaceutical company’s stock valued at $36,000 after acquiring an additional 320 shares during the period.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders in the United States and internationally. The company offers Translarna and Emflaza for the treatment of Duchenne muscular dystrophy; Upstaza to treat aromatic l-amino acid decarboxylas (AADC) deficiency, a central nervous system disorder; Tegsedi and Waylivra for the treatment of rare diseases; and Evrysdi to treat spinal muscular atrophy (SMA) in adults and children.