PTC Therapeutics Target of Unusually High Options Trading (NASDAQ:PTCT)

PTC Therapeutics, Inc. (NASDAQ:PTCT) was the target of unusually large options trading activity on Tuesday. Stock traders acquired 701 put options on the stock. This represents an increase of 962% compared to the typical daily volume of 66 put options.

In other PTC Therapeutics news, CAO Christine Marie Utter sold 988 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $45.00, for a total value of $44,460.00. Following the transaction, the chief accounting officer now directly owns 5,173 shares in the company, valued at $232,785. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Mark Elliott Boulding sold 15,312 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $44.74, for a total transaction of $685,058.88. Following the completion of the transaction, the vice president now owns 32,805 shares in the company, valued at $1,467,695.70. The disclosure for this sale can be found here. Insiders sold 295,091 shares of company stock worth $13,251,718 over the last quarter. Insiders own 7.00% of the company’s stock.

Several hedge funds have recently made changes to their positions in PTCT. BlackRock Inc. raised its position in shares of PTC Therapeutics by 1.9% during the 4th quarter. BlackRock Inc. now owns 3,707,241 shares of the biopharmaceutical company’s stock valued at $127,233,000 after purchasing an additional 67,532 shares during the period. Bank of New York Mellon Corp raised its position in shares of PTC Therapeutics by 33.7% during the 4th quarter. Bank of New York Mellon Corp now owns 258,004 shares of the biopharmaceutical company’s stock valued at $8,854,000 after purchasing an additional 65,061 shares during the period. Raymond James & Associates purchased a new position in PTC Therapeutics during the fourth quarter valued at $253,000. NumerixS Investment Technologies Inc purchased a new position in PTC Therapeutics during the fourth quarter valued at $32,000. Finally, Dimensional Fund Advisors LP grew its stake in PTC Therapeutics by 13.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 243,852 shares of the biopharmaceutical company’s stock valued at $8,369,000 after acquiring an additional 28,969 shares in the last quarter.

Several research firms have weighed in on PTCT. Zacks Investment Research upgraded shares of Golub Capital BDC from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Tuesday. Cowen reiterated a “buy” rating and issued a $149.00 price target on shares of Intercept Pharmaceuticals in a research report on Wednesday, May 8th. Citigroup set a $47.00 price target on shares of Quanta Services and gave the stock a “buy” rating in a research report on Friday, May 3rd. Bank of America upgraded shares of Copa from a “neutral” rating to a “buy” rating in a research report on Monday, May 13th. Finally, Sanford C. Bernstein set a €12.10 ($14.07) price target on shares of Metro and gave the stock a “sell” rating in a research report on Thursday, April 11th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $50.56.

Shares of PTCT stock opened at $42.83 on Thursday. The company has a market cap of $2.50 billion, a P/E ratio of -23.28 and a beta of 1.76. PTC Therapeutics has a one year low of $27.53 and a one year high of $48.99. The company’s fifty day moving average price is $42.48. The company has a quick ratio of 3.24, a current ratio of 3.35 and a debt-to-equity ratio of 0.27.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($1.29) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.74) by ($0.55). The firm had revenue of $53.58 million for the quarter, compared to the consensus estimate of $70.38 million. PTC Therapeutics had a negative net margin of 68.99% and a negative return on equity of 32.42%. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.46) earnings per share. As a group, equities analysts expect that PTC Therapeutics will post -2.54 earnings per share for the current year.

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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