PTC Therapeutics (NASDAQ:PTCT) Director David Southwell Sells 12,000 Shares

Key Points

• Director David Southwell of PTC Therapeutics sold 12,000 shares at an average price of $58.34, reducing his ownership by 41.59% to 16,850 shares valued at approximately $983,029.
• PTC Therapeutics reported a quarterly earnings per share (EPS) of ($0.83), exceeding analysts' expectations, with a total revenue of $178.88 million.
• Analysts have mixed ratings on the stock, with a consensus price target of $69.00, reflecting optimism about its performance and potential future growth.

PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) Director David Southwell sold 12,000 shares of the company's stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $58.34, for a total transaction of $700,080.00. Following the completion of the sale, the director directly owned 16,850 shares of the company's stock, valued at $983,029. The trade was a 41.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

PTC Therapeutics Price Performance

NASDAQ PTCT traded up $2.63 on Thursday, hitting $60.96. 1,657,682 shares of the company were exchanged, compared to its average volume of 1,099,766. The firm has a market capitalization of $4.84 billion, a P/E ratio of 8.75 and a beta of 0.53. PTC Therapeutics, Inc. has a twelve month low of $31.80 and a twelve month high of $61.11. The company's 50 day moving average price is $49.78 and its 200-day moving average price is $49.34.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($0.83) EPS for the quarter, topping analysts' consensus estimates of ($1.07) by $0.24. The firm had revenue of $178.88 million for the quarter, compared to the consensus estimate of $173.01 million. PTC Therapeutics had a negative return on equity of 106.31% and a net margin of 35.65%.The firm's revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.29) earnings per share. PTC Therapeutics has set its FY 2025 guidance at EPS. As a group, equities analysts expect that PTC Therapeutics, Inc. will post -4.52 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on PTCT. Royal Bank Of Canada reiterated an "outperform" rating and set a $63.00 price objective (up from $60.00) on shares of PTC Therapeutics in a research note on Friday, August 8th. Morgan Stanley decreased their price target on PTC Therapeutics from $76.00 to $71.00 and set an "overweight" rating on the stock in a report on Wednesday, August 20th. Wells Fargo & Company reduced their target price on PTC Therapeutics from $79.00 to $73.00 and set an "overweight" rating on the stock in a report on Wednesday, August 20th. UBS Group raised their target price on PTC Therapeutics from $71.00 to $80.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Finally, Cowen reiterated a "hold" rating on shares of PTC Therapeutics in a report on Friday, August 8th. Nine research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, PTC Therapeutics has a consensus rating of "Moderate Buy" and a consensus price target of $69.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Quantbot Technologies LP boosted its stake in PTC Therapeutics by 545.5% in the first quarter. Quantbot Technologies LP now owns 652 shares of the biopharmaceutical company's stock valued at $33,000 after buying an additional 551 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of PTC Therapeutics by 84.2% during the first 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 during the last quarter. GAMMA Investing LLC increased its holdings in PTC Therapeutics by 86.3% in the first 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. EverSource Wealth Advisors LLC increased its holdings in PTC Therapeutics by 247.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,143 shares of the biopharmaceutical company's stock worth $56,000 after purchasing an additional 814 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in PTC Therapeutics in the first quarter worth approximately $61,000.

About PTC Therapeutics

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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