Insider Selling: PTC Therapeutics (NASDAQ:PTCT) Director Sells 10,000 Shares of Stock

Key Points

• PTC Therapeutics director Michael Schmertzler sold 10,000 shares at an average price of $67.84, generating $678,400. The sale, conducted under a pre-arranged Rule 10b5-1 plan, reduced his holdings by 0.75% to 1,326,594 shares.
• PTCT shares recently traded at $66.06, below their 50-day and 200-day moving averages, with a 12-month range of $57.74 to $90.87.
• The company reported stronger-than-expected quarterly results, with EPS of $0.92 versus a $0.24 consensus estimate and revenue of $360.52 million. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $98.55.

PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) Director Michael Schmertzler sold 10,000 shares of PTC Therapeutics stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $67.84, for a total value of $678,400.00. Following the transaction, the director owned 1,326,594 shares of the company's stock, valued at $89,996,136.96. This trade represents a 0.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 stock was sold at an average price of $72.94, for a total value 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 value of $916,500.00.

PTC Therapeutics Price Performance

Shares of PTCT stock traded down $1.31 during trading hours on Friday, reaching $66.06. The company had a trading volume of 792,872 shares, compared to its average volume of 1,379,925. PTC Therapeutics, Inc. has a 12 month low of $57.74 and a 12 month high of $90.87. The business has a fifty day simple moving average of $74.70 and a 200-day simple moving average of $72.22. The company has a market cap of $5.51 billion, a price-to-earnings ratio of -113.90, a price-to-earnings-growth ratio of 2.08 and a beta of 0.55.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.68. The business had revenue of $360.52 million during the quarter, compared to the consensus estimate of $298.63 million. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 3.80%.PTC Therapeutics's revenue was up 101.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.83) earnings per share. On average, equities research analysts expect that PTC Therapeutics, Inc. will post 1.17 earnings per share for the current year.

Analyst Ratings Changes

PTCT has been the subject of several analyst reports. Cantor Fitzgerald increased their target price on shares of PTC Therapeutics from $124.00 to $130.00 and gave the company an "overweight" rating in a report on Thursday, July 16th. Wall Street Zen downgraded shares of PTC Therapeutics from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 22nd. Morgan Stanley increased their price objective on shares of PTC Therapeutics from $93.00 to $104.00 and gave the company an "overweight" rating in a research note on Friday, July 31st. Weiss Ratings raised shares of PTC Therapeutics from a "sell (d)" rating to a "sell (d+)" rating in a research report on Tuesday, September 1st. Finally, Wells Fargo & Company boosted their target price on PTC Therapeutics from $106.00 to $109.00 and gave the stock an "overweight" rating in a research note on Thursday, August 13th. One investment 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 issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $98.55.

Institutional Trading of PTC Therapeutics

Large investors have recently bought and sold shares of the company. UMB Bank n.a. purchased a new position in shares of PTC Therapeutics during the 4th quarter valued at $26,000. Comerica Bank increased its holdings in PTC Therapeutics by 868.5% in the 3rd quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company's stock worth $32,000 after acquiring an additional 469 shares during the last quarter. IFP Advisors Inc increased its holdings in PTC Therapeutics by 68.1% in the 3rd quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company's stock worth $47,000 after acquiring an additional 310 shares during the last quarter. Allworth Financial LP raised its stake in PTC Therapeutics by 63.8% in the 4th quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company's stock valued at $48,000 after acquiring an additional 247 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in PTC Therapeutics by 247.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,143 shares of the biopharmaceutical company's stock valued at $56,000 after acquiring an additional 814 shares during the period.

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.

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