PTC Therapeutics (NASDAQ:PTCT) EVP Lee Scott Golden Sells 829 Shares

PTC Therapeutics, Inc. (NASDAQ:PTCT) EVP Lee Scott Golden sold 829 shares of PTC Therapeutics stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $67.99, for a total value of $56,363.71. Following the completion of the sale, the executive vice president directly owned 79,115 shares in the company, valued at $5,379,028.85. This represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Lee Scott Golden also recently made the following trade(s):

• On Thursday, March 5th, Lee Scott Golden sold 10,000 shares of PTC Therapeutics stock. The stock was sold at an average price of $63.38, for a total value of $633,800.00.
• On Wednesday, February 18th, Lee Scott Golden sold 2,484 shares of PTC Therapeutics stock. The stock was sold at an average price of $69.36, for a total value of $172,290.24.
• On Thursday, January 8th, Lee Scott Golden sold 866 shares of PTC Therapeutics stock. The shares were sold at an average price of $76.45, for a total value of $66,205.70.
• On Wednesday, January 7th, Lee Scott Golden sold 642 shares of PTC Therapeutics stock. The shares were sold at an average price of $77.48, for a total value of $49,742.16.
• On Tuesday, January 6th, Lee Scott Golden sold 1,340 shares of PTC Therapeutics stock. The shares were sold at an average price of $76.95, for a total value of $103,113.00.

PTC Therapeutics Stock Up 1.7%

NASDAQ:PTCT opened at $68.90 on Tuesday. PTC Therapeutics, Inc. has a 52 week low of $35.95 and a 52 week high of $87.50. The company has a market capitalization of $5.70 billion, a P/E ratio of 8.90 and a beta of 0.55. The stock’s fifty day moving average is $68.91 and its two-hundred day moving average is $71.17.

PTC Therapeutics (NASDAQ:PTCT) last posted its earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($1.46). PTC Therapeutics had a negative return on equity of 362.45% and a net margin of 39.44%.The firm had revenue of $164.68 million for the quarter, compared to analyst estimates of $281.45 million. During the same period in the previous year, the company posted ($0.85) EPS. PTC Therapeutics’s revenue was down 22.7% on a year-over-year basis. Sell-side analysts anticipate that PTC Therapeutics, Inc. will post -4.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PTCT has been the subject of several analyst reports. Wall Street Zen cut PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. TD Cowen reissued a “hold” rating on shares of PTC Therapeutics in a research report on Thursday, January 29th. Bank of America decreased their target price on PTC Therapeutics from $97.00 to $93.00 and set a “buy” rating for the company in a research report on Friday, February 20th. Wells Fargo & Company decreased their target price on PTC Therapeutics from $93.00 to $86.00 and set an “overweight” rating for the company in a research report on Friday, February 20th. Finally, Jefferies Financial Group cut PTC Therapeutics from a “buy” rating to a “hold” rating and decreased their target price for the company from $91.00 to $76.00 in a research report on Monday, March 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, PTC Therapeutics has an average rating of “Moderate Buy” and an average target price of $82.71.

Hedge Funds Weigh In On PTC Therapeutics

A number of large investors have recently modified their holdings of PTCT. Jefferies Financial Group Inc. purchased a new stake in PTC Therapeutics during the third quarter worth $97,252,000. Janus Henderson Group PLC increased its position in shares of PTC Therapeutics by 28.6% in the fourth quarter. Janus Henderson Group PLC now owns 4,851,332 shares of the biopharmaceutical company’s stock valued at $368,587,000 after buying an additional 1,077,776 shares in the last quarter. State Street Corp raised its stake in shares of PTC Therapeutics by 34.2% during the 4th quarter. State Street Corp now owns 4,206,126 shares of the biopharmaceutical company’s stock worth $319,497,000 after buying an additional 1,071,343 shares during the last quarter. Toronto Dominion Bank raised its stake in shares of PTC Therapeutics by 27.5% during the 4th quarter. Toronto Dominion Bank now owns 4,138,215 shares of the biopharmaceutical company’s stock worth $314,339,000 after buying an additional 891,690 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in PTC Therapeutics by 4,013.1% in the 4th quarter. BNP Paribas Financial Markets now owns 828,662 shares of the biopharmaceutical company’s stock valued at $62,945,000 after acquiring an additional 808,515 shares during the last quarter.

PTC Therapeutics Company Profile

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.