PTC Therapeutics (NASDAQ:PTCT) Stock: Insider Michael Schmertzler Sells 2,500 Shares

PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Michael Schmertzler sold 2,500 shares of the firm’s stock in a transaction on Wednesday, October 14th. The stock was sold at an average price of $59.61, for a total value of $149,025.00. Following the transaction, the director owned 1,291,594 shares of the company’s stock, valued at approximately $76,991,918.34. This represents a 0.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, October 7th, Michael Schmertzler sold 2,500 shares of PTC Therapeutics stock. The shares were sold at an average price of $63.39, for a total value of $158,475.00.
• On Wednesday, September 16th, Michael Schmertzler sold 10,000 shares of PTC Therapeutics stock. The shares were sold at an average price of $67.12, for a total value of $671,200.00.
• On Wednesday, September 9th, Michael Schmertzler sold 10,000 shares of PTC Therapeutics stock. The shares were sold at an average price of $67.84, for a total value of $678,400.00.
• 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 value 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 value of $916,500.00.

PTC Therapeutics Price Performance

Shares of PTC Therapeutics stock opened at $59.24 on Friday. The stock has a market capitalization of $4.94 billion, a price-to-earnings ratio of -102.14, a price-to-earnings-growth ratio of 1.79 and a beta of 0.49. The business has a 50-day moving average of $67.41 and a 200 day moving average of $71.73. PTC Therapeutics, Inc. has a 12 month low of $58.80 and a 12 month high of $90.87.

PTC Therapeutics (NASDAQ:PTCT) last released its earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.68. The firm had revenue of $360.52 million during the quarter, compared to analyst estimates of $298.63 million. The business’s revenue was up 101.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.83) earnings per share. Equities research analysts anticipate that PTC Therapeutics, Inc. will post 1.19 earnings per share for the current year.

Institutional Investors Weigh In On PTC Therapeutics

Several large investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC boosted its stake in shares of PTC Therapeutics by 16.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the biopharmaceutical company’s stock valued at $71,000 after buying an additional 151 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in shares of PTC Therapeutics by 1.8% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 13,730 shares of the biopharmaceutical company’s stock worth $1,120,000 after buying an additional 237 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of PTC Therapeutics by 8.5% during the first quarter. PNC Financial Services Group Inc. now owns 3,128 shares of the biopharmaceutical company’s stock worth $213,000 after buying an additional 244 shares in the last quarter. Evolve Private Wealth LLC grew its position in shares of PTC Therapeutics by 5.2% during the first quarter. Evolve Private Wealth LLC now owns 6,122 shares of the biopharmaceutical company’s stock worth $417,000 after buying an additional 305 shares in the last quarter. Finally, New York State Teachers Retirement System increased its stake in shares of PTC Therapeutics by 0.7% during the first quarter. New York State Teachers Retirement System now owns 44,953 shares of the biopharmaceutical company’s stock worth $3,063,000 after buying an additional 316 shares during the period.

Analyst Ratings Changes

A number of brokerages recently weighed in on PTCT. Barclays lifted their price objective on shares of PTC Therapeutics from $120.00 to $122.00 and gave the company an “overweight” rating in a report on Friday, August 14th. UBS Group reiterated a “buy” rating and set a $90.00 target price (up from $80.00) on shares of PTC Therapeutics in a report on Thursday. Wells Fargo & Company increased their target price on shares of PTC Therapeutics from $106.00 to $109.00 and gave the stock an “overweight” rating in a report on Thursday, August 13th. Leerink Partners assumed coverage on shares of PTC Therapeutics in a research report on Monday, September 14th. They issued an “outperform” rating and a $98.00 price target for the company. Finally, Zacks Research cut shares of PTC Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $95.07.

About PTC Therapeutics

PTC Therapeutics, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for rare diseases. Its research programs use technologies designed to address genetic and molecular causes of disease, including RNA biology, protein translation and gene therapy.

The company’s commercial portfolio includes Emflaza (deflazacort), a corticosteroid approved in the United States to treat Duchenne muscular dystrophy, and Upstaza (eladocagene exuparvovec), a gene therapy for aromatic L-amino acid decarboxylase deficiency in eligible patients.