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 value of $2,268,262.00. Following the sale, the insider directly owned 72,912 shares in the company, valued at $4,150,151.04. This represents a 35.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

PTC Therapeutics Price Performance

NASDAQ:PTCT traded up $0.13 during trading hours on Friday, reaching $61.09. 1,759,211 shares of the company were exchanged, compared to its average volume of 1,275,826. The company has a market capitalization of $4.85 billion, a P/E ratio of 8.76 and a beta of 0.53. PTC Therapeutics, Inc. has a 1-year low of $33.19 and a 1-year high of $62.18. The business has a 50 day moving average of $50.27 and a 200 day moving average of $49.48.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC bought a new position in shares of PTC Therapeutics in the 1st quarter valued at $595,000. Allspring Global Investments Holdings LLC bought a new position in shares of PTC Therapeutics in the 1st quarter valued at $524,000. Sector Gamma AS lifted its stake in shares of PTC Therapeutics by 41.4% in the 1st quarter. Sector Gamma AS now owns 92,250 shares of the biopharmaceutical company's stock valued at $4,701,000 after acquiring an additional 27,000 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of PTC Therapeutics by 262.1% in the 1st quarter. Deutsche Bank AG now owns 341,724 shares of the biopharmaceutical company's stock valued at $17,414,000 after acquiring an additional 247,346 shares during the last quarter. Finally, Cerity Partners LLC bought a new position in shares of PTC Therapeutics in the 1st quarter valued at $641,000.

Analyst Ratings Changes

A number of brokerages recently issued reports on PTCT. Cantor Fitzgerald reissued an "overweight" rating and set a $118.00 price target on shares of PTC Therapeutics in a research report on Wednesday, September 3rd. Bank of America reduced their price target on PTC Therapeutics from $82.00 to $76.00 and set a "buy" rating on the stock in a research report on Wednesday, August 20th. Wall Street Zen downgraded PTC Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 9th. Wells Fargo & Company reduced their target price on PTC Therapeutics from $79.00 to $73.00 and set an "overweight" rating on the stock in a report on Wednesday, August 20th. Finally, Morgan Stanley reduced their target price on PTC Therapeutics from $76.00 to $71.00 and set an "overweight" rating on the stock in a report on Wednesday, August 20th. Nine research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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.