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

Key Points

• Director Michael Schmertzler sold 2,500 PTC Therapeutics shares for $158,475 at an average price of $63.39 under a pre-arranged Rule 10b5-1 plan, reducing his ownership by 0.19% to 1,294,094 shares.
• PTCT shares rose 3.4% to $64.70, while the company reported quarterly revenue of $360.52 million and EPS of $0.92, exceeding analyst expectations; revenue increased 101.5% year over year.
• Analysts maintain a “Moderate Buy” consensus with a $98.25 average price target, although recent ratings were mixed, including a reduced $75 target from RBC and a $98 target from Leerink Partners.

PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) Director Michael Schmertzler sold 2,500 shares of the firm's stock in a transaction on Wednesday, October 7th. The shares were sold at an average price of $63.39, for a total transaction of $158,475.00. Following the transaction, the director directly owned 1,294,094 shares of the company's stock, valued at $82,032,618.66. The trade was a 0.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through 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, 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 transaction 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 shares were 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 Trading Up 3.4%

Shares of PTCT stock traded up $2.14 during trading hours on Friday, reaching $64.70. 1,171,186 shares of the stock were exchanged, compared to its average volume of 1,374,659. The firm has a market capitalization of $5.40 billion, a price-to-earnings ratio of -111.55, a price-to-earnings-growth ratio of 1.95 and a beta of 0.49. PTC Therapeutics, Inc. has a 12-month low of $61.23 and a 12-month high of $90.87. The company's 50-day moving average price is $68.43 and its 200-day moving average price is $71.98.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.24 by $0.68. The company had revenue of $360.52 million during the quarter, compared to analysts' expectations of $298.63 million. The company's quarterly revenue was up 101.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.83) EPS. On average, sell-side analysts expect that PTC Therapeutics, Inc. will post 1.17 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Wall Street Zen upgraded PTC Therapeutics from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 19th. Zacks Research downgraded shares of PTC Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 6th. Weiss Ratings raised shares of PTC Therapeutics from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday. Royal Bank Of Canada decreased their price objective on shares of PTC Therapeutics from $85.00 to $75.00 and set a "sector perform" rating for the company in a research report on Wednesday. Finally, Leerink Partners initiated coverage on shares of PTC Therapeutics in a research note on Monday, September 14th. They issued an "outperform" rating and a $98.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $98.25.

Institutional Trading of PTC Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of PTC Therapeutics during the 2nd quarter worth about $1,139,089,000. Jupiter Topco LLC purchased a new position in shares of PTC Therapeutics in the 2nd quarter valued at about $590,182,000. Janus Henderson Group PLC raised its holdings in PTC Therapeutics by 48.3% in the 1st quarter. Janus Henderson Group PLC now owns 7,193,433 shares of the biopharmaceutical company's stock worth $489,997,000 after purchasing an additional 2,342,101 shares during the period. William Blair Investment Management LLC acquired a new position in PTC Therapeutics in the 2nd quarter worth about $140,520,000. Finally, Bank of America Corp DE acquired a new position in PTC Therapeutics in the 2nd quarter worth about $118,462,000.

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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