PTC Therapeutics (NASDAQ:PTCT) Director Michael Schmertzler Sells 12,500 Shares of Stock

by · The Markets Daily

PTC Therapeutics, Inc. (NASDAQ:PTCT – Get Free Report) Director Michael Schmertzler sold 12,500 shares of the stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $72.94, for a total transaction of $911,750.00. Following the completion of the sale, the director owned 1,349,094 shares in the company, valued at $98,402,916.36. This represents a 0.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 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 Down 2.4%

NASDAQ PTCT traded down $1.72 during trading on Friday, reaching $70.09. 692,673 shares of the stock traded hands, compared to its average volume of 1,408,194. The firm has a market cap of $5.85 billion, a price-to-earnings ratio of -120.84, a price-to-earnings-growth ratio of 2.24 and a beta of 0.56. The stock’s 50-day moving average price is $77.25 and its 200 day moving average price is $72.29. PTC Therapeutics, Inc. has a fifty-two week low of $48.96 and a fifty-two week high of $90.87.

PTC Therapeutics (NASDAQ:PTCT – Get Free Report) last posted its earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.68. The company had revenue of $360.52 million for the quarter, compared to analyst estimates of $298.63 million. PTC Therapeutics had a negative net margin of 3.80% and a negative return on equity of 362.45%. The business’s revenue for the quarter was up 101.5% compared to the same quarter last year. During the same period last year, the business posted ($0.83) earnings per share. Analysts anticipate that PTC Therapeutics, Inc. will post 1.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PTCT has been the topic of several research analyst reports. Cantor Fitzgerald raised their price objective on PTC Therapeutics from $124.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Citigroup raised PTC Therapeutics from a “neutral” rating to a “buy” rating and boosted their target price for the company from $75.00 to $108.00 in a research note on Tuesday, June 9th. Weiss Ratings downgraded PTC Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, August 17th. Wells Fargo & Company raised their price target on PTC Therapeutics from $106.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday, August 13th. Finally, Wall Street Zen cut PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 22nd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $98.55.

Get Our Latest Report on PTCT

Institutional Investors Weigh In On PTC Therapeutics

Large investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in shares of PTC Therapeutics during the second quarter worth $1,139,089,000. Jupiter Topco LLC acquired a new position in PTC Therapeutics in the 2nd quarter worth $590,182,000. California State Teachers Retirement System boosted its stake in PTC Therapeutics by 7,806.7% in the 2nd quarter. California State Teachers Retirement System now owns 6,666,961 shares of the biopharmaceutical company’s stock worth $543,824,000 after purchasing an additional 6,582,641 shares during the period. Janus Henderson Group PLC boosted its stake in PTC Therapeutics by 48.3% in the 1st quarter. Janus Henderson Group PLC now owns 7,193,433 shares of the biopharmaceutical company’s stock worth $489,997,000 after purchasing an additional 2,342,101 shares during the period. Finally, William Blair Investment Management LLC bought a new position in PTC Therapeutics during the 2nd quarter worth about $140,520,000.

About PTC Therapeutics

(Get Free Report)

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.

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