PTC Therapeutics (NASDAQ:PTCT) Insider Sells $67,352.45 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) insider Neil Gregory Almstead sold 881 shares of the stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $76.45, for a total transaction of $67,352.45. Following the sale, the insider owned 115,196 shares in the company, valued at $8,806,734.20. The trade was a 0.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Thursday, January 8th, Neil Gregory Almstead sold 59 shares of PTC Therapeutics stock. The shares were sold at an average price of $76.45, for a total transaction of $4,510.55.
• On Wednesday, January 7th, Neil Gregory Almstead sold 52 shares of PTC Therapeutics stock. The stock was sold at an average price of $77.48, for a total transaction of $4,028.96.
• On Wednesday, January 7th, Neil Gregory Almstead sold 1,026 shares of PTC Therapeutics stock. The stock was sold at an average price of $77.48, for a total transaction of $79,494.48.
• On Tuesday, January 6th, Neil Gregory Almstead sold 54 shares of PTC Therapeutics stock. The shares were sold at an average price of $76.95, for a total transaction of $4,155.30.
• On Tuesday, January 6th, Neil Gregory Almstead sold 1,279 shares of PTC Therapeutics stock. The stock was sold at an average price of $76.95, for a total value of $98,419.05.
• On Monday, November 24th, Neil Gregory Almstead sold 35,572 shares of PTC Therapeutics stock. The shares were sold at an average price of $80.18, for a total value of $2,852,162.96.
• On Tuesday, November 25th, Neil Gregory Almstead sold 71,928 shares of PTC Therapeutics stock. The shares were sold at an average price of $83.44, for a total value of $6,001,672.32.

PTC Therapeutics Stock Up 2.5%

Shares of PTCT stock opened at $77.29 on Thursday. The business has a fifty day simple moving average of $77.07 and a 200 day simple moving average of $63.38. The company has a market cap of $6.21 billion, a P/E ratio of 9.03 and a beta of 0.49. PTC Therapeutics, Inc. has a twelve month low of $35.95 and a twelve month high of $87.50.

PTC Therapeutics (NASDAQ:PTCT) last released its earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.19) by $1.39. The firm had revenue of $211.01 million for the quarter, compared to analysts’ expectations of $177.42 million. PTC Therapeutics had a negative return on equity of 194.11% and a net margin of 42.25%.The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.39) earnings per share. As a group, equities research analysts anticipate that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

PTCT has been the subject of several research reports. Weiss Ratings reissued a “hold (c)” rating on shares of PTC Therapeutics in a research note on Monday, December 29th. Wells Fargo & Company upped their price target on shares of PTC Therapeutics from $73.00 to $93.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Jefferies Financial Group raised their price objective on PTC Therapeutics from $63.00 to $77.00 and gave the company a “buy” rating in a report on Tuesday, October 28th. TD Cowen boosted their price objective on PTC Therapeutics from $50.00 to $63.00 and gave the stock a “hold” rating in a research report on Wednesday, November 5th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $90.00 target price on shares of PTC Therapeutics in a research report on Thursday, January 8th. Nine investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, PTC Therapeutics has a consensus rating of “Hold” and a consensus target price of $77.27.

Institutional Trading of PTC Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of PTCT. Jefferies Financial Group Inc. acquired a new position in PTC Therapeutics during the 3rd quarter worth about $97,252,000. SG Americas Securities LLC raised its position in shares of PTC Therapeutics by 587.5% during the fourth quarter. SG Americas Securities LLC now owns 894,461 shares of the biopharmaceutical company’s stock worth $67,943,000 after acquiring an additional 764,364 shares during the last quarter. Hood River Capital Management LLC lifted its stake in shares of PTC Therapeutics by 654.4% in the second quarter. Hood River Capital Management LLC now owns 636,502 shares of the biopharmaceutical company’s stock worth $31,087,000 after acquiring an additional 552,130 shares during the period. State Street Corp lifted its stake in shares of PTC Therapeutics by 22.1% in the second quarter. State Street Corp now owns 2,996,454 shares of the biopharmaceutical company’s stock worth $146,347,000 after acquiring an additional 541,558 shares during the period. Finally, Palo Alto Investors LP boosted its holdings in PTC Therapeutics by 112.2% in the third quarter. Palo Alto Investors LP now owns 862,613 shares of the biopharmaceutical company’s stock valued at $52,939,000 after acquiring an additional 456,144 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.