Stephanie Okey Sells 6,333 Shares of PTC Therapeutics (NASDAQ:PTCT) Stock

Key Points

• Director Stephanie Okey sold 6,333 PTC Therapeutics shares on March 5 at an average price of $63.38 for about $401,386, trimming her holding by 44.18% to 8,000 shares.
• PTC missed quarterly expectations, reporting ($1.67) EPS vs. ($0.21) expected and revenue of $164.68M (vs. $281.45M expected), with revenue down 22.7% year‑over‑year and analysts projecting -4.52 EPS for the fiscal year.
• The stock traded up to $68.40 on heavy volume and, despite the results, has a consensus analyst rating of "Moderate Buy" with a consensus target price of $82.79 (10 Buys, 4 Holds, 1 Sell).

PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) Director Stephanie Okey sold 6,333 shares of the business's stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $63.38, for a total transaction of $401,385.54. Following the completion of the sale, the director owned 8,000 shares in the company, valued at approximately $507,040. The trade was a 44.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

PTC Therapeutics Price Performance

Shares of NASDAQ PTCT traded up $5.58 during mid-day trading on Monday, hitting $68.40. 2,494,745 shares of the company's stock traded hands, compared to its average volume of 1,317,297. The company has a market capitalization of $5.66 billion, a P/E ratio of 8.84 and a beta of 0.51. PTC Therapeutics, Inc. has a 1 year low of $35.95 and a 1 year high of $87.50. The company's 50-day moving average is $72.77 and its two-hundred day moving average is $69.45.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last released its quarterly earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.67) EPS for the quarter, missing analysts' consensus estimates of ($0.21) by ($1.46). The firm had revenue of $164.68 million for the quarter, compared to analysts' expectations of $281.45 million. PTC Therapeutics had a negative return on equity of 362.45% and a net margin of 39.44%.PTC Therapeutics's revenue for the quarter was down 22.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.85) earnings per share. Equities analysts anticipate that PTC Therapeutics, Inc. will post -4.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PTCT shares. Wall Street Zen lowered shares of PTC Therapeutics from a "buy" rating to a "hold" rating in a research note on Saturday, February 21st. Morgan Stanley raised their price target on shares of PTC Therapeutics from $90.00 to $92.00 and gave the stock an "overweight" rating in a report on Monday, February 23rd. Barclays reiterated an "overweight" rating and set a $120.00 price target on shares of PTC Therapeutics in a research note on Monday, February 23rd. Bank of America cut their price target on shares of PTC Therapeutics from $97.00 to $93.00 and set a "buy" rating on the stock in a report on Friday, February 20th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of PTC Therapeutics in a report on Friday, February 20th. Ten analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $82.79.

Institutional Investors Weigh In On PTC Therapeutics

Several hedge funds have recently bought and sold shares of the stock. Vise Technologies Inc. acquired a new stake in PTC Therapeutics during the second quarter valued at $486,000. WCM Investment Management LLC purchased a new stake in shares of PTC Therapeutics during the 3rd quarter worth about $8,919,000. Prudential Financial Inc. grew its position in shares of PTC Therapeutics by 35.5% during the 2nd quarter. Prudential Financial Inc. now owns 84,250 shares of the biopharmaceutical company's stock valued at $4,115,000 after acquiring an additional 22,060 shares during the period. Sector Gamma AS increased its stake in shares of PTC Therapeutics by 28.0% in the 3rd quarter. Sector Gamma AS now owns 118,112 shares of the biopharmaceutical company's stock valued at $7,249,000 after purchasing an additional 25,862 shares in the last quarter. Finally, QRG Capital Management Inc. acquired a new position in PTC Therapeutics in the 3rd quarter worth about $2,090,000.

About PTC Therapeutics

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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