PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Dawn Svoronos sold 365 shares of the firm’s stock in a transaction dated Wednesday, June 9th. The shares were sold at an average price of $41.88, for a total value of $15,286.20. Following the sale, the director now owns 27,065 shares in the company, valued at $1,133,482.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
PTCT traded down $0.22 during trading on Friday, reaching $42.95. The company’s stock had a trading volume of 217,600 shares, compared to its average volume of 562,003. The company has a current ratio of 4.47, a quick ratio of 4.41 and a debt-to-equity ratio of 3.80. The stock has a fifty day simple moving average of $42.58. PTC Therapeutics, Inc. has a 1 year low of $37.12 and a 1 year high of $70.82. The company has a market capitalization of $3.03 billion, a P/E ratio of -6.34 and a beta of 1.00.
PTC Therapeutics (NASDAQ:PTCT) last released its earnings results on Tuesday, May 4th. The biopharmaceutical company reported ($1.83) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.59) by ($0.24). The business had revenue of $117.94 million during the quarter, compared to analysts’ expectations of $98.77 million. PTC Therapeutics had a negative return on equity of 95.96% and a negative net margin of 105.50%. The company’s revenue for the quarter was up 72.8% compared to the same quarter last year. During the same period last year, the business earned ($1.81) earnings per share. On average, equities analysts expect that PTC Therapeutics, Inc. will post -7.16 earnings per share for the current fiscal year.
A number of research firms have recently commented on PTCT. Bank of America cut PTC Therapeutics from a “buy” rating to a “neutral” rating in a research report on Friday, February 12th. Credit Suisse Group initiated coverage on PTC Therapeutics in a report on Monday, April 26th. They issued a “neutral” rating and a $54.00 price objective on the stock. Cantor Fitzgerald lowered their price objective on PTC Therapeutics from $81.00 to $75.00 and set an “overweight” rating on the stock in a report on Friday, February 26th. William Blair reiterated a “buy” rating on shares of PTC Therapeutics in a report on Thursday, June 3rd. Finally, Zacks Investment Research cut PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, April 30th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $64.08.
Hedge funds have recently added to or reduced their stakes in the company. Ellevest Inc. raised its position in shares of PTC Therapeutics by 497.2% during the 1st quarter. Ellevest Inc. now owns 848 shares of the biopharmaceutical company’s stock valued at $40,000 after buying an additional 706 shares during the period. Penserra Capital Management LLC raised its position in shares of PTC Therapeutics by 170.8% during the 4th quarter. Penserra Capital Management LLC now owns 1,565 shares of the biopharmaceutical company’s stock valued at $95,000 after buying an additional 987 shares during the period. E Fund Management Co. Ltd. purchased a new stake in shares of PTC Therapeutics during the 1st quarter valued at approximately $112,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of PTC Therapeutics during the 4th quarter valued at approximately $267,000. Finally, Virginia Retirement Systems ET AL purchased a new stake in shares of PTC Therapeutics during the 4th quarter valued at approximately $269,000.
About PTC Therapeutics
PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines for the treatment of rare disorders. The company offers Translarna (ataluren) and Emflaza (deflazacort) for the treatment of nonsense mutation Duchenne muscular dystrophy in ambulatory patients.
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