Allan Steven Jacobson Sells 12,000 Shares of PTC Therapeutics (NASDAQ:PTCT) Stock

Key Points

• Director Allan Steven Jacobson sold 12,000 shares of PTC Therapeutics at an average price of $65.00, amounting to a total of $780,000, reducing his ownership by 40.75%.
• PTC Therapeutics reported a quarterly EPS of ($0.83), surpassing analysts' expectations, with revenue of $178.88 million despite a 4.2% year-over-year decline.
• The stock has experienced a recent price decline, trading down 1.4% and currently valued at $63.90 with an average target price of $69.00 from analysts.

PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) Director Allan Steven Jacobson sold 12,000 shares of PTC Therapeutics stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $65.00, for a total transaction of $780,000.00. Following the transaction, the director directly owned 17,451 shares of the company's stock, valued at $1,134,315. This represents a 40.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Allan Steven Jacobson also recently made the following trade(s):

• On Thursday, August 28th, Allan Steven Jacobson sold 1,667 shares of PTC Therapeutics stock. The stock was sold at an average price of $50.15, for a total transaction of $83,600.05.
• On Thursday, August 28th, Allan Steven Jacobson sold 1,667 shares of PTC Therapeutics stock. The stock was sold at an average price of $50.15, for a total value of $83,600.05.

PTC Therapeutics Trading Down 1.4%

NASDAQ PTCT traded down $0.90 during trading hours on Tuesday, reaching $63.90. 1,057,052 shares of the company's stock were exchanged, compared to its average volume of 1,118,233. The firm has a fifty day moving average of $54.61 and a 200-day moving average of $50.25. PTC Therapeutics, Inc. has a one year low of $35.14 and a one year high of $67.40. The stock has a market cap of $5.08 billion, a PE ratio of 9.17 and a beta of 0.55.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($0.83) EPS for the quarter, topping analysts' consensus estimates of ($1.07) by $0.24. The company had revenue of $178.88 million for the quarter, compared to analyst estimates of $173.01 million. PTC Therapeutics had a negative return on equity of 106.31% and a net margin of 35.65%.The business's revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.29) earnings per share. PTC Therapeutics has set its FY 2025 guidance at EPS. As a group, research analysts forecast that PTC Therapeutics, Inc. will post -4.52 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Citigroup raised their price objective on shares of PTC Therapeutics from $40.00 to $50.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Truist Financial boosted their price objective on shares of PTC Therapeutics from $80.00 to $86.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $118.00 price objective on shares of PTC Therapeutics in a report on Wednesday, September 3rd. Wall Street Zen lowered PTC Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Robert W. Baird set a $70.00 price objective on PTC Therapeutics in a report on Friday, August 8th. Nine analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $69.00.

Institutional Trading of PTC Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. grew its position in PTC Therapeutics by 3.0% in the second quarter. Ameritas Investment Partners Inc. now owns 7,936 shares of the biopharmaceutical company's stock valued at $388,000 after purchasing an additional 231 shares in the last quarter. PNC Financial Services Group Inc. raised its position in PTC Therapeutics by 42.1% during the second quarter. PNC Financial Services Group Inc. now owns 995 shares of the biopharmaceutical company's stock worth $49,000 after acquiring an additional 295 shares in the last quarter. Xponance Inc. lifted its stake in PTC Therapeutics by 5.2% in the first quarter. Xponance Inc. now owns 6,372 shares of the biopharmaceutical company's stock valued at $325,000 after acquiring an additional 314 shares during the last quarter. Diversified Trust Co increased its stake in shares of PTC Therapeutics by 2.0% during the 1st quarter. Diversified Trust Co now owns 17,147 shares of the biopharmaceutical company's stock worth $874,000 after purchasing an additional 329 shares during the last quarter. Finally, GF Fund Management CO. LTD. raised its holdings in shares of PTC Therapeutics by 21.9% in the 1st quarter. GF Fund Management CO. LTD. now owns 1,974 shares of the biopharmaceutical company's stock valued at $101,000 after purchasing an additional 355 shares during the period.

About PTC Therapeutics

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.

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