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

Key Points

• PTC Therapeutics director Michael Schmertzler sold 12,500 shares at an average price of $72.94, generating $911,750. The transaction was conducted under a pre-arranged Rule 10b5-1 plan and reduced his holdings by 0.92% to 1,349,094 shares.
• PTCT shares recently traded at $70.09, below their 50-day moving average of $77.25 but above their 52-week low of $48.96. The company reported quarterly revenue of $360.52 million and adjusted earnings of $0.92 per share, both ahead of analyst expectations.
• Analyst sentiment remains a “Moderate Buy”, with a consensus price target of $98.55, although ratings range from Strong Buy to Sell. Cantor Fitzgerald raised its target to $130, while Jefferies upgraded the stock to Buy.

PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) Director Michael Schmertzler sold 12,500 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $98,402,916.36. The trade was a 0.92% decrease in their position. The transaction was disclosed in a 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 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 Price Performance

Shares of PTCT stock traded down $1.72 during trading hours on Friday, reaching $70.09. 692,673 shares of the company were exchanged, compared to its average volume of 1,408,194. PTC Therapeutics, Inc. has a fifty-two week low of $48.96 and a fifty-two week high of $90.87. The stock's fifty day moving average is $77.25 and its two-hundred day moving average is $72.29. The company has a market cap of $5.85 billion, a price-to-earnings ratio of -120.84, a P/E/G ratio of 2.24 and a beta of 0.56.

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

Institutional Trading of PTC Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in PTCT. UMB Bank n.a. acquired a new position in shares of PTC Therapeutics in the 4th quarter valued at $26,000. Comerica Bank grew its stake in shares of PTC Therapeutics by 868.5% during the third quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company's stock worth $32,000 after purchasing an additional 469 shares during the period. Allworth Financial LP increased its holdings in PTC Therapeutics by 63.8% in the fourth quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company's stock valued at $48,000 after purchasing an additional 247 shares during the last quarter. IFP Advisors Inc increased its holdings in PTC Therapeutics by 68.1% in the third quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company's stock valued at $47,000 after purchasing an additional 310 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in PTC Therapeutics by 96.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 921 shares of the biopharmaceutical company's stock valued at $70,000 after buying an additional 452 shares during the period.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PTCT shares. Cantor Fitzgerald boosted their target price on PTC Therapeutics from $124.00 to $130.00 and gave the stock an "overweight" rating in a research report on Thursday, July 16th. Weiss Ratings cut PTC Therapeutics from a "sell (d+)" rating to a "sell (d)" rating in a report on Monday, August 17th. Royal Bank Of Canada lifted their price objective on PTC Therapeutics from $82.00 to $85.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 7th. Jefferies Financial Group raised PTC Therapeutics from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $76.00 to $85.00 in a report on Wednesday, May 27th. Finally, Zacks Research downgraded shares of PTC Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 6th. One 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. According to data from MarketBeat, PTC Therapeutics has an average rating of "Moderate Buy" and a consensus target price of $98.55.

PTC Therapeutics Company Profile

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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