PTC Therapeutics, Inc. (NASDAQ:PTCT) CEO Matthew B. Klein Sells 3,361 Shares

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

PTC Therapeutics Stock Down 0.8 %

Shares of PTCT stock opened at $25.21 on Thursday. The business has a fifty day simple moving average of $28.11 and a 200 day simple moving average of $25.74. The company has a market cap of $1.93 billion, a P/E ratio of -3.02 and a beta of 0.67. PTC Therapeutics, Inc. has a twelve month low of $17.53 and a twelve month high of $59.84.

PTC Therapeutics (NASDAQ:PTCT) last posted its earnings results on Thursday, February 29th. The biopharmaceutical company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.53). The firm had revenue of $307.06 million for the quarter, compared to analysts’ expectations of $315.90 million. As a group, equities research analysts anticipate that PTC Therapeutics, Inc. will post -5.94 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Trading of PTC Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC increased its holdings in PTC Therapeutics by 97.2% in the 3rd quarter. SG Americas Securities LLC now owns 42,949 shares of the biopharmaceutical company’s stock worth $962,000 after purchasing an additional 21,173 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in PTC Therapeutics by 12.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,465 shares of the biopharmaceutical company’s stock worth $302,000 after purchasing an additional 1,509 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of PTC Therapeutics by 12.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,075 shares of the biopharmaceutical company’s stock worth $114,000 after acquiring an additional 559 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in PTC Therapeutics by 99.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,941 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 969 shares during the period. Finally, Teacher Retirement System of Texas boosted its stake in shares of PTC Therapeutics by 5.1% in the 3rd quarter. Teacher Retirement System of Texas now owns 18,941 shares of the biopharmaceutical company’s stock valued at $424,000 after purchasing an additional 922 shares during the last quarter.

PTC Therapeutics Company Profile

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.