Christine Marie Utter Sells 19,686 Shares of PTC Therapeutics (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) CAO Christine Marie Utter sold 19,686 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $75.56, for a total transaction of $1,487,474.16. Following the sale, the chief accounting officer owned 70,199 shares in the company, valued at $5,304,236.44. The trade was a 21.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PTC Therapeutics Stock Up 1.4%

NASDAQ PTCT opened at $82.13 on Wednesday. PTC Therapeutics, Inc. has a 52 week low of $43.17 and a 52 week high of $87.50. The stock has a market capitalization of $6.81 billion, a PE ratio of -35.25, a price-to-earnings-growth ratio of 3.72 and a beta of 0.56. The firm has a 50 day moving average of $71.84 and a two-hundred day moving average of $71.94.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.42. The company had revenue of $272.55 million for the quarter, compared to the consensus estimate of $217.42 million. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. The company’s quarterly revenue was up 43.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $10.04 EPS. On average, equities research analysts expect that PTC Therapeutics, Inc. will post 0.78 earnings per share for the current fiscal year.

Analyst Ratings Changes

PTCT has been the topic of a number of analyst reports. Wells Fargo & Company raised their price target on PTC Therapeutics from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Morgan Stanley reaffirmed an “overweight” rating and set a $94.00 price objective on shares of PTC Therapeutics in a research report on Friday, May 8th. Citigroup raised PTC Therapeutics from a “neutral” rating to a “buy” rating and raised their target price for the stock from $75.00 to $108.00 in a research report on Tuesday, June 9th. TD Cowen raised PTC Therapeutics from a “hold” rating to a “buy” rating and raised their target price for the stock from $75.00 to $90.00 in a research report on Friday, May 8th. Finally, Weiss Ratings cut PTC Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $91.36.

Institutional Investors Weigh In On PTC Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of PTCT. UMB Bank n.a. purchased a new position in shares of PTC Therapeutics during the fourth quarter worth about $26,000. Optiver Holding B.V. lifted its holdings in shares of PTC Therapeutics by 96.5% in the 3rd quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 249 shares during the last quarter. Comerica Bank lifted its holdings in shares of PTC Therapeutics by 868.5% in the 3rd quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 469 shares during the last quarter. Salomon & Ludwin LLC acquired a new stake in shares of PTC Therapeutics in the 4th quarter valued at about $41,000. Finally, IFP Advisors Inc boosted its position in shares of PTC Therapeutics by 68.1% in the 3rd quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 310 shares during the period.

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.