PTC Therapeutics (NASDAQ:PTCT) Insider Neil Gregory Almstead Sells 5,323 Shares

Key Points

• Insider selling: PTC Therapeutics insider Neil Gregory Almstead sold 5,323 shares on June 24 at an average price of $85.03, and additional sales were disclosed on June 22 and June 25 as well. All of the transactions were made under a pre-arranged Rule 10b5-1 plan.
• Stock and earnings update: PTCT shares were down slightly to $84.43, near their 52-week high of $87.50. The company recently beat quarterly expectations, reporting a smaller-than-expected loss and revenue of $272.55 million, up 43.5% year over year.
• Wall Street sentiment: Analysts remain broadly positive, with several firms raising price targets and upgrades, including Citigroup moving to a buy rating. MarketBeat shows a consensus rating of Moderate Buy with an average price target of $91.36.

PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) insider Neil Gregory Almstead sold 5,323 shares of the stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $85.03, for a total value of $452,614.69. Following the completion of the transaction, the insider owned 60,137 shares of the company's stock, valued at $5,113,449.11. The trade was a 8.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neil Gregory Almstead also recently made the following trade(s):

• On Thursday, June 25th, Neil Gregory Almstead sold 20,960 shares of PTC Therapeutics stock. The stock was sold at an average price of $85.97, for a total transaction of $1,801,931.20.
• On Monday, June 22nd, Neil Gregory Almstead sold 23,749 shares of PTC Therapeutics stock. The stock was sold at an average price of $80.90, for a total transaction of $1,921,294.10.
• On Wednesday, April 1st, Neil Gregory Almstead sold 52,003 shares of PTC Therapeutics stock. The shares were sold at an average price of $69.04, for a total transaction of $3,590,287.12.

PTC Therapeutics Stock Down 0.1%

Shares of NASDAQ PTCT traded down $0.08 during midday trading on Friday, hitting $84.43. The company had a trading volume of 3,903,105 shares, compared to its average volume of 1,404,402. PTC Therapeutics, Inc. has a twelve month low of $43.17 and a twelve month high of $87.50. The business has a 50-day simple moving average of $72.35 and a two-hundred day simple moving average of $72.03. The firm has a market capitalization of $7.00 billion, a price-to-earnings ratio of -36.24, a price-to-earnings-growth ratio of 3.88 and a beta of 0.56.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.03) EPS for the quarter, topping analysts' consensus estimates of ($0.45) by $0.42. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. The firm had revenue of $272.55 million for the quarter, compared to the consensus estimate of $217.42 million. During the same quarter in the previous year, the firm earned $10.04 earnings per share. The firm's revenue was up 43.5% on a year-over-year basis. On average, equities analysts forecast that PTC Therapeutics, Inc. will post 0.78 EPS for the current year.

Analyst Upgrades and Downgrades

PTCT has been the topic of a number of research reports. Wells Fargo & Company upped their price target on PTC Therapeutics from $86.00 to $95.00 and gave the stock an "overweight" rating in a report on Friday, May 8th. Royal Bank Of Canada lifted their price objective on PTC Therapeutics from $81.00 to $82.00 and gave the stock a "sector perform" rating in a report on Friday, May 8th. Jefferies Financial Group upgraded PTC Therapeutics from a "hold" rating to a "buy" rating and boosted their target price for the stock from $76.00 to $85.00 in a research report on Wednesday, May 27th. Citigroup raised PTC Therapeutics from a "neutral" rating to a "buy" rating and upped their target price for the company from $75.00 to $108.00 in a report on Tuesday, June 9th. Finally, Morgan Stanley restated an "overweight" rating and issued a $94.00 price target on shares of PTC Therapeutics in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, PTC Therapeutics presently has a consensus rating of "Moderate Buy" and an average price target of $91.36.

Institutional Trading of PTC Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of PTCT. Defilade Capital Management L.P. acquired a new stake in shares of PTC Therapeutics in the first quarter valued at approximately $25,628,000. Segall Bryant & Hamill LLC raised its position in shares of PTC Therapeutics by 287.4% during the 1st quarter. Segall Bryant & Hamill LLC now owns 195,380 shares of the biopharmaceutical company's stock worth $13,311,000 after purchasing an additional 144,949 shares during the last quarter. Bank of America Corp DE lifted its stake in PTC Therapeutics by 31.8% in the 1st quarter. Bank of America Corp DE now owns 1,886,841 shares of the biopharmaceutical company's stock valued at $128,550,000 after buying an additional 455,284 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in PTC Therapeutics in the 1st quarter valued at approximately $566,000. Finally, Janus Henderson Group PLC grew its holdings in PTC Therapeutics by 48.3% during the 1st quarter. Janus Henderson Group PLC now owns 7,193,433 shares of the biopharmaceutical company's stock valued at $489,997,000 after buying an additional 2,342,101 shares during the last quarter.

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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