Michael Schmertzler Sells 10,000 Shares of PTC Therapeutics (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Michael Schmertzler sold 10,000 shares of the company’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $67.84, for a total transaction of $678,400.00. Following the completion of the transaction, the director owned 1,326,594 shares in the company, valued at $89,996,136.96. This represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michael Schmertzler also recently made the following trade(s):

• On Wednesday, August 26th, Michael Schmertzler sold 12,500 shares of PTC Therapeutics stock. The shares were sold at an average price of $72.94, for a total transaction of $911,750.00.
• On Wednesday, August 19th, Michael Schmertzler sold 12,500 shares of PTC Therapeutics stock. The shares were sold at an average price of $73.32, for a total transaction of $916,500.00.

PTC Therapeutics Stock Performance

Shares of NASDAQ PTCT opened at $66.06 on Friday. PTC Therapeutics, Inc. has a 52-week low of $57.74 and a 52-week high of $90.87. The firm has a market capitalization of $5.51 billion, a price-to-earnings ratio of -113.90, a PEG ratio of 2.04 and a beta of 0.55. The stock has a 50 day moving average price of $74.36 and a 200 day moving average price of $72.18.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.24 by $0.68. The company had revenue of $360.52 million for the quarter, compared to the consensus estimate of $298.63 million. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 3.80%.PTC Therapeutics’s quarterly revenue was up 101.5% on a year-over-year basis. During the same period last year, the business posted ($0.83) EPS. Analysts forecast that PTC Therapeutics, Inc. will post 1.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

PTCT has been the subject of several recent research reports. Cantor Fitzgerald lifted their price objective on PTC Therapeutics from $124.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Royal Bank Of Canada raised their target price on shares of PTC Therapeutics from $82.00 to $85.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 7th. Citigroup upgraded shares of PTC Therapeutics from a “neutral” rating to a “buy” rating and boosted their price target for the company from $75.00 to $108.00 in a report on Tuesday, June 9th. Wall Street Zen cut shares of PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 22nd. Finally, Morgan Stanley increased their price objective on shares of PTC Therapeutics from $93.00 to $104.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $98.55.

Institutional Trading of PTC Therapeutics

A number of institutional investors have recently made changes to their positions in PTCT. Empowered Funds LLC purchased a new stake in PTC Therapeutics in the first quarter valued at about $1,999,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of PTC Therapeutics by 11.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 178,755 shares of the biopharmaceutical company’s stock worth $9,109,000 after acquiring an additional 18,504 shares during the last quarter. Quantbot Technologies LP increased its holdings in shares of PTC Therapeutics by 280.1% during the second quarter. Quantbot Technologies LP now owns 2,478 shares of the biopharmaceutical company’s stock valued at $121,000 after acquiring an additional 1,826 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of PTC Therapeutics during the second quarter valued at about $1,661,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of PTC Therapeutics by 247.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,143 shares of the biopharmaceutical company’s stock valued at $56,000 after purchasing an additional 814 shares during the last quarter.

About PTC Therapeutics

PTC Therapeutics, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for rare diseases. The company uses technologies involving RNA biology, gene therapy and small-molecule drug discovery to address conditions with limited treatment options, including rare neurological and metabolic disorders.

PTC’s commercial portfolio has included Translarna (ataluren), an investigational treatment in some markets for Duchenne muscular dystrophy associated with a nonsense mutation, and Emflaza (deflazacort), a corticosteroid approved in the United States for Duchenne muscular dystrophy.