PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Sells $555,635.86 in Stock

Key Points

• PTC Therapeutics CEO Matthew B. Klein sold 10,739 shares of stock for $555,635.86, decreasing his holdings by 3.08% to 337,767 shares.
• The company's stock traded down to $51.11 with a market capitalization of $4.05 billion, following recent earnings that showed a significant EPS surprise of $10.04.
• Multiple research firms have raised their price targets for PTC Therapeutics, with UBS Group and Wells Fargo increasing their targets to $80.00 and $78.00 respectively, reflecting positive analyst sentiment.

PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) CEO Matthew B. Klein sold 10,739 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $51.74, for a total transaction of $555,635.86. Following the sale, the chief executive officer owned 337,767 shares in the company, valued at $17,476,064.58. This represents a 3.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

PTC Therapeutics Price Performance

Shares of NASDAQ PTCT traded down $1.14 during trading on Tuesday, hitting $51.11. 1,114,280 shares of the company were exchanged, compared to its average volume of 1,177,511. The company has a market cap of $4.05 billion, a price-to-earnings ratio of 7.85 and a beta of 0.54. PTC Therapeutics, Inc. has a 1 year low of $29.01 and a 1 year high of $58.38. The firm's fifty day moving average price is $49.40 and its 200 day moving average price is $48.86.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported $10.04 EPS for the quarter, beating analysts' consensus estimates of $0.85 by $9.19. PTC Therapeutics had a net margin of 33.56% and a negative return on equity of 78.56%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $437.16 million. During the same quarter in the prior year, the company posted ($1.20) EPS. The company's quarterly revenue was down 9.6% compared to the same quarter last year. On average, research analysts forecast that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current year.

Hedge Funds Weigh In On PTC Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sterling Capital Management LLC increased its position in PTC Therapeutics by 424.4% in the fourth quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company's stock worth $29,000 after buying an additional 522 shares during the period. Quantbot Technologies LP lifted its stake in PTC Therapeutics by 545.5% in the 1st quarter. Quantbot Technologies LP now owns 652 shares of the biopharmaceutical company's stock worth $33,000 after acquiring an additional 551 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in PTC Therapeutics by 84.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 700 shares of the biopharmaceutical company's stock worth $36,000 after acquiring an additional 320 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of PTC Therapeutics by 86.3% during the 1st quarter. GAMMA Investing LLC now owns 952 shares of the biopharmaceutical company's stock worth $49,000 after purchasing an additional 441 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of PTC Therapeutics in the 1st quarter valued at approximately $61,000.

Wall Street Analyst Weigh In

Several research firms have weighed in on PTCT. UBS Group lifted their price target on shares of PTC Therapeutics from $71.00 to $80.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Wells Fargo & Company upped their target price on shares of PTC Therapeutics from $74.00 to $78.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Citigroup reaffirmed a "neutral" rating and set a $50.00 target price (up previously from $40.00) on shares of PTC Therapeutics in a report on Monday, July 28th. Bank of America increased their price target on shares of PTC Therapeutics from $68.00 to $84.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Finally, Barclays increased their price target on shares of PTC Therapeutics from $42.00 to $46.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $69.38.

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.

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