PTC Therapeutics (NASDAQ:PTCT) Insider Sells $3,632,750.00 in Stock

Key Points

• PTC Therapeutics insider Neil Gregory Almstead sold 55,000 shares for a total of $3,632,750, reducing his stake by 35.34% to 100,625 shares.
• The company reported a net margin of 35.65% and a revenue of $178.88 million for the last quarter, surpassing estimates.
• Multiple research firms have rated the stock with an average target price of $69.00, with ratings ranging from "Buy" to "Hold."

PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) insider Neil Gregory Almstead sold 55,000 shares of the company's stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $66.05, for a total value of $3,632,750.00. Following the sale, the insider owned 100,625 shares in the company, valued at $6,646,281.25. The trade was a 35.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

PTC Therapeutics Price Performance

Shares of PTCT stock traded down $0.90 on Tuesday, hitting $63.90. 1,057,052 shares of the stock traded hands, compared to its average volume of 1,118,233. The company has a market capitalization of $5.08 billion, a PE ratio of 9.17 and a beta of 0.55. The company's fifty day moving average is $54.61 and its 200 day moving average is $50.25. PTC Therapeutics, Inc. has a 1-year low of $35.14 and a 1-year high of $67.40.

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on PTCT. Cantor Fitzgerald restated an "overweight" rating and set a $118.00 price target on shares of PTC Therapeutics in a research report on Wednesday, September 3rd. Morgan Stanley cut their target price on shares of PTC Therapeutics from $76.00 to $71.00 and set an "overweight" rating for the company in a research note on Wednesday, August 20th. Bank of America dropped their price target on PTC Therapeutics from $82.00 to $76.00 and set a "buy" rating on the stock in a report on Wednesday, August 20th. Truist Financial increased their price target on PTC Therapeutics from $80.00 to $86.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Finally, Barclays boosted their price objective on shares of PTC Therapeutics from $42.00 to $46.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 29th. Nine equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $69.00.

Hedge Funds Weigh In On PTC Therapeutics

A number of hedge funds have recently made changes to their positions in the business. Quantbot Technologies LP lifted its stake in PTC Therapeutics by 545.5% during the first quarter. Quantbot Technologies LP now owns 652 shares of the biopharmaceutical company's stock worth $33,000 after purchasing an additional 551 shares during the period. PNC Financial Services Group Inc. grew its position in PTC Therapeutics by 84.2% in the first quarter. PNC Financial Services Group Inc. now owns 700 shares of the biopharmaceutical company's stock valued at $36,000 after acquiring an additional 320 shares during the period. GAMMA Investing LLC raised its stake in PTC Therapeutics by 86.3% during the first quarter. GAMMA Investing LLC now owns 952 shares of the biopharmaceutical company's stock worth $49,000 after acquiring an additional 441 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of PTC Therapeutics by 247.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,143 shares of the biopharmaceutical company's stock worth $56,000 after buying an additional 814 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in PTC Therapeutics in the first quarter worth $61,000.

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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