Insider Selling: PTC Therapeutics (NASDAQ:PTCT) CAO Sells $1,487,474.16 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) CAO Christine Marie Utter sold 19,686 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $75.56, for a total transaction of $1,487,474.16. Following the completion of the transaction, the chief accounting officer owned 70,199 shares of the company’s stock, valued at approximately $5,304,236.44. This trade represents a 21.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PTC Therapeutics Price Performance

PTCT opened at $84.41 on Thursday. PTC Therapeutics, Inc. has a fifty-two week low of $43.17 and a fifty-two week high of $87.50. The firm has a market capitalization of $7.00 billion, a price-to-earnings ratio of -36.23, a PEG ratio of 3.78 and a beta of 0.56. The company’s 50 day moving average price is $72.12 and its two-hundred day moving average price is $71.98.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.42. The firm had revenue of $272.55 million during the quarter, compared to the consensus estimate of $217.42 million. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. The company’s revenue for the quarter was up 43.5% on a year-over-year basis. During the same quarter last year, the firm earned $10.04 earnings per share. As a group, equities research analysts predict that PTC Therapeutics, Inc. will post 0.78 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on PTCT. Wells Fargo & Company lifted their target price on PTC Therapeutics from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Weiss Ratings cut PTC Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Raymond James Financial began coverage on PTC Therapeutics in a research report on Friday, April 10th. They set an “outperform” rating and a $108.00 price objective for the company. Jefferies Financial Group raised PTC Therapeutics from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $76.00 to $85.00 in a research note on Wednesday, May 27th. Finally, Royal Bank Of Canada upped their target price on PTC Therapeutics from $81.00 to $82.00 and gave the company a “sector perform” rating in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $91.36.

Institutional Trading of PTC Therapeutics

A number of large investors have recently bought and sold shares of the business. UMB Bank n.a. acquired a new position in shares of PTC Therapeutics in the 4th quarter valued at about $26,000. Optiver Holding B.V. grew its stake in PTC Therapeutics by 96.5% during the third quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 249 shares during the period. Comerica Bank grew its stake in PTC Therapeutics by 868.5% during the third quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 469 shares during the period. Salomon & Ludwin LLC bought a new stake in PTC Therapeutics in the fourth quarter worth approximately $41,000. Finally, IFP Advisors Inc boosted its holdings in shares of PTC Therapeutics by 68.1% during the 3rd quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock worth $47,000 after buying an additional 310 shares in the last quarter.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule and biologic therapies for the treatment of rare genetic disorders. Since its founding in 1998, PTC has dedicated its efforts to addressing high unmet medical needs by targeting underlying genetic causes of disease. The company’s research platform emphasizes mechanisms such as nonsense suppression and RNA modulation, enabling the development of novel treatments for conditions with limited therapeutic options.

Among PTC’s approved products is Translarna (ataluren), a first-in-class therapy designed to treat nonsense mutation Duchenne muscular dystrophy in select markets.