PTC Therapeutics (NASDAQ:PTCT) Insider Sells $2,268,262.00 in Stock

Key Points

• Eric Pauwels, an insider at PTC Therapeutics, sold 39,850 shares at an average price of $56.92, resulting in a total transaction value of $2.27 million and a 35.34% decrease in their stock position.
• PTC Therapeutics reported better-than-expected quarterly earnings, with a loss of ($0.83) earnings per share, surpassing analysts' consensus estimate of ($1.07).
• Despite recent sales, analysts remain optimistic, with nine rating the stock a Buy and a consensus price target of $69.00, following positive recommendations from several brokerage firms.

PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) insider Eric Pauwels sold 39,850 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $56.92, for a total transaction of $2,268,262.00. Following the completion of the transaction, the insider owned 72,912 shares in the company, valued at $4,150,151.04. The trade was a 35.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

PTC Therapeutics Stock Performance

Shares of NASDAQ:PTCT traded up $0.66 on Friday, reaching $61.62. The company's stock had a trading volume of 1,063,044 shares, compared to its average volume of 1,099,340. PTC Therapeutics, Inc. has a 52-week low of $33.19 and a 52-week high of $62.18. The company has a market cap of $4.89 billion, a P/E ratio of 8.83 and a beta of 0.53. The company has a 50-day simple moving average of $50.03 and a 200 day simple moving average of $49.41.

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

Institutional Investors Weigh In On PTC Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of PTC Therapeutics by 0.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,681 shares of the biopharmaceutical company's stock worth $2,967,000 after purchasing an additional 205 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of PTC Therapeutics by 3.0% in the 2nd 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 during the period. PNC Financial Services Group Inc. lifted its stake in PTC Therapeutics by 42.1% in the 2nd 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 1st quarter. Xponance Inc. now owns 6,372 shares of the biopharmaceutical company's stock worth $325,000 after acquiring an additional 314 shares in the last quarter. Finally, Diversified Trust Co raised 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 in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company dropped their target price on shares of PTC Therapeutics from $79.00 to $73.00 and set an "overweight" rating for the company in a report on Wednesday, August 20th. Truist Financial raised their target price on shares of PTC Therapeutics from $80.00 to $86.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Barclays raised their price objective on shares of PTC Therapeutics from $42.00 to $46.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. Morgan Stanley lowered their target price on shares of PTC Therapeutics from $76.00 to $71.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 20th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $63.00 price objective (up from $60.00) on shares of PTC Therapeutics in a research report on Friday, August 8th. Nine research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $69.00.

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.