PTC Therapeutics (NASDAQ:PTCT) Director Michael Schmertzler Sells 2,500 Shares of Company Stock

Key Points

• Director Michael Schmertzler sold 2,500 PTC Therapeutics shares at an average price of $59.61, generating $149,025. The transaction was conducted under a pre-arranged Rule 10b5-1 plan, and he still owned 1,291,594 shares afterward.
• The sale continues a series of insider disposals, with Schmertzler selling additional shares since August at prices ranging from $63.39 to $73.32.
• PTC Therapeutics shares recently traded at $59.24, near their 52-week low, despite stronger-than-expected quarterly results and a Wall Street consensus “Moderate Buy” rating with a $95.07 target price.

PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) Director Michael Schmertzler sold 2,500 shares of the firm's stock in a transaction that occurred on Wednesday, October 14th. The shares were sold at an average price of $59.61, for a total value of $149,025.00. Following the completion of the transaction, the director owned 1,291,594 shares in the company, valued at $76,991,918.34. This represents a 0.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michael Schmertzler also recently made the following trade(s):

• On Wednesday, October 7th, Michael Schmertzler sold 2,500 shares of PTC Therapeutics stock. The stock was sold at an average price of $63.39, for a total value of $158,475.00.
• On Wednesday, September 16th, Michael Schmertzler sold 10,000 shares of PTC Therapeutics stock. The stock was sold at an average price of $67.12, for a total value of $671,200.00.
• On Wednesday, September 9th, Michael Schmertzler sold 10,000 shares of PTC Therapeutics stock. The shares were sold at an average price of $67.84, for a total transaction of $678,400.00.
• 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 transaction 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 transaction of $916,500.00.

PTC Therapeutics Stock Performance

NASDAQ:PTCT traded down $1.75 on Friday, hitting $59.24. The stock had a trading volume of 788,962 shares, compared to its average volume of 1,366,055. The stock has a market cap of $4.94 billion, a P/E ratio of -102.14, a price-to-earnings-growth ratio of 1.80 and a beta of 0.49. PTC Therapeutics, Inc. has a 1 year low of $58.80 and a 1 year high of $90.87. The firm's fifty day simple moving average is $67.69 and its two-hundred day simple moving average is $71.82.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.68. The business had revenue of $360.52 million for the quarter, compared to the consensus estimate of $298.63 million. During the same quarter last year, the business posted ($0.83) earnings per share. The business's revenue was up 101.5% compared to the same quarter last year. Equities research analysts predict that PTC Therapeutics, Inc. will post 1.19 EPS for the current year.

Hedge Funds Weigh In On PTC Therapeutics

Large investors have recently modified their holdings of the company. Avior Wealth Management LLC raised its stake in shares of PTC Therapeutics by 48.7% during the third quarter. Avior Wealth Management LLC now owns 5,622 shares of the biopharmaceutical company's stock worth $364,000 after acquiring an additional 1,842 shares in the last quarter. Sacks & Associates LLC purchased a new stake in PTC Therapeutics during the 3rd quarter valued at about $251,000. Private Capital Advisors Inc. purchased a new stake in PTC Therapeutics during the 3rd quarter valued at about $458,000. Envestnet Portfolio Solutions Inc. boosted its holdings in PTC Therapeutics by 1.8% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 13,730 shares of the biopharmaceutical company's stock valued at $1,120,000 after acquiring an additional 237 shares during the period. Finally, Tidal Investments LLC bought a new position in PTC Therapeutics during the 2nd quarter worth approximately $211,000.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Cantor Fitzgerald boosted their price target on shares of PTC Therapeutics from $130.00 to $137.00 and gave the company an "overweight" rating in a research report on Tuesday, September 22nd. Leerink Partners initiated coverage on shares of PTC Therapeutics in a research note on Monday, September 14th. They set an "outperform" rating and a $98.00 price target on the stock. Wall Street Zen downgraded shares of PTC Therapeutics from a "strong-buy" rating to a "buy" rating in a report on Saturday, October 10th. Truist Financial began coverage on shares of PTC Therapeutics in a research note on Friday. They issued a "hold" rating and a $62.00 price objective for the company. Finally, Weiss Ratings upgraded shares of PTC Therapeutics from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, October 8th. Eleven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $95.07.

About PTC Therapeutics

PTC Therapeutics, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for rare diseases. Its research programs use technologies designed to address genetic and molecular causes of disease, including RNA biology, protein translation and gene therapy.

The company's commercial portfolio includes Emflaza (deflazacort), a corticosteroid approved in the United States to treat Duchenne muscular dystrophy, and Upstaza (eladocagene exuparvovec), a gene therapy for aromatic L-amino acid decarboxylase deficiency in eligible patients.

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