PTC Therapeutics (NASDAQ:PTCT) Director Michael Schmertzler Sells 10,000 Shares of Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Michael Schmertzler sold 10,000 shares of the company’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $67.84, for a total transaction of $678,400.00. Following the completion of the sale, the director directly owned 1,326,594 shares in the company, valued at $89,996,136.96. This represents a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a 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.

Michael Schmertzler also recently made the following trade(s):

• 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 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 Stock Performance

PTCT opened at $66.06 on Friday. The company has a market capitalization of $5.51 billion, a P/E ratio of -113.90, a PEG ratio of 2.08 and a beta of 0.55. The company has a 50-day moving average of $74.36 and a 200-day moving average of $72.18. PTC Therapeutics, Inc. has a 1-year low of $57.74 and a 1-year high of $90.87.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.24 by $0.68. The business had revenue of $360.52 million for the quarter, compared to analysts’ expectations of $298.63 million. PTC Therapeutics had a negative net margin of 3.80% and a negative return on equity of 362.45%. The company’s quarterly revenue was up 101.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.83) earnings per share. As a group, sell-side analysts expect that PTC Therapeutics, Inc. will post 1.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PTCT shares. Jefferies Financial Group raised PTC Therapeutics from a “hold” rating to a “buy” rating and increased their target price for the stock from $76.00 to $85.00 in a report on Wednesday, May 27th. Royal Bank Of Canada boosted their price target on PTC Therapeutics from $82.00 to $85.00 and gave the company a “sector perform” rating in a report on Tuesday, July 7th. Wall Street Zen lowered PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 22nd. Weiss Ratings upgraded PTC Therapeutics from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, September 1st. Finally, Zacks Research downgraded shares of PTC Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $98.55.

Hedge Funds Weigh In On PTC Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in shares of PTC Therapeutics during the second quarter valued at approximately $1,139,089,000. Jupiter Topco LLC bought a new stake in shares of PTC Therapeutics in the 2nd quarter worth approximately $590,182,000. Janus Henderson Group PLC boosted its position in PTC Therapeutics by 48.3% during the 1st quarter. Janus Henderson Group PLC now owns 7,193,433 shares of the biopharmaceutical company’s stock valued at $489,997,000 after purchasing an additional 2,342,101 shares during the period. California State Teachers Retirement System boosted its position in PTC Therapeutics by 7,806.7% during the 2nd quarter. California State Teachers Retirement System now owns 6,666,961 shares of the biopharmaceutical company’s stock valued at $543,824,000 after purchasing an additional 6,582,641 shares during the period. Finally, Wellington Management Group LLP grew its stake in PTC Therapeutics by 4.8% during the 3rd quarter. Wellington Management Group LLP now owns 4,918,619 shares of the biopharmaceutical company’s stock worth $301,856,000 after buying an additional 224,481 shares during the last quarter.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for rare diseases. The company uses technologies involving RNA biology, gene therapy and small-molecule drug discovery to address conditions with limited treatment options, including rare neurological and metabolic disorders.

PTC’s commercial portfolio has included Translarna (ataluren), an investigational treatment in some markets for Duchenne muscular dystrophy associated with a nonsense mutation, and Emflaza (deflazacort), a corticosteroid approved in the United States for Duchenne muscular dystrophy.