PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Sells $83,655.29 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Matthew B. Klein sold 3,361 shares of PTC Therapeutics stock in a transaction on Friday, April 19th. The stock was sold at an average price of $24.89, for a total transaction of $83,655.29. Following the completion of the transaction, the chief executive officer now directly owns 225,807 shares of the company’s stock, valued at approximately $5,620,336.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

PTC Therapeutics Trading Down 0.8 %

PTC Therapeutics stock opened at $25.21 on Thursday. PTC Therapeutics, Inc. has a 1-year low of $17.53 and a 1-year high of $59.84. The firm’s fifty day simple moving average is $28.11 and its 200-day simple moving average is $25.74. The company has a market capitalization of $1.93 billion, a P/E ratio of -3.02 and a beta of 0.67.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings results on Thursday, February 29th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.53). The business had revenue of $307.06 million during the quarter, compared to the consensus estimate of $315.90 million. On average, equities research analysts predict that PTC Therapeutics, Inc. will post -5.94 earnings per share for the current year.

Institutional Trading of PTC Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of PTCT. Rathbones Group PLC bought a new position in PTC Therapeutics in the 3rd quarter worth $532,000. Charles Schwab Investment Management Inc. grew its position in shares of PTC Therapeutics by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 596,763 shares of the biopharmaceutical company’s stock valued at $13,373,000 after purchasing an additional 23,288 shares during the last quarter. Walleye Capital LLC lifted its position in shares of PTC Therapeutics by 958.6% during the 3rd quarter. Walleye Capital LLC now owns 72,030 shares of the biopharmaceutical company’s stock worth $1,614,000 after purchasing an additional 65,226 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in PTC Therapeutics by 10.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,122,698 shares of the biopharmaceutical company’s stock valued at $25,160,000 after purchasing an additional 104,024 shares during the period. Finally, Vanguard Group Inc. grew its holdings in PTC Therapeutics by 5.2% in the 3rd quarter. Vanguard Group Inc. now owns 7,945,489 shares of the biopharmaceutical company’s stock valued at $178,058,000 after buying an additional 393,012 shares during the last quarter.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PTCT shares. Jefferies Financial Group lifted their price target on shares of PTC Therapeutics from $33.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. TD Cowen reduced their target price on shares of PTC Therapeutics from $32.00 to $30.00 and set a “market perform” rating for the company in a research note on Friday, March 1st. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 target price on shares of PTC Therapeutics in a research note on Friday, April 12th. Finally, Royal Bank of Canada lifted their target price on PTC Therapeutics from $22.00 to $28.00 and gave the stock a “sector perform” rating in a report on Friday, March 1st. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $33.53.

About PTC Therapeutics

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders in the United States and internationally. The company offers Translarna and Emflaza for the treatment of Duchenne muscular dystrophy; Upstaza to treat aromatic l-amino acid decarboxylas (AADC) deficiency, a central nervous system disorder; Tegsedi and Waylivra for the treatment of rare diseases; and Evrysdi to treat spinal muscular atrophy (SMA) in adults and children.