# PTC Therapeutics, Inc. (PTCT)

> Source: Nexqual · https://nexqual.com/PTCT · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, PTC Therapeutics, Inc. (PTCT), nexqual.com/PTCT" · informational, not investment advice.

**Price:** USD 63.04 (+0.67% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 62.62 · day 62.24–63.49 · 52w 58.8–90.87 · market cap $5.26B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $1.01B, net income -$38.4M (-3.8% margin), free cash flow -$39.8M (SEC filings).
- 1 of 80 tracked superinvestors hold PTCT (13F, Q2 2026): 1 new, 0 added, 0 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 28 Form 4 filings, $25.5M; 0 not under a Rule 10b5-1 plan ($0K); 1 by opportunistic insiders (0 outside 10b5-1 plans), 18 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.00 on a 1–5 scale) (16 analysts), mean target USD 97.81 (range 62–137).
- Total return with dividends: 1Y -5.6% vs S&P 500 +14.9%; 5Y +75.2% vs S&P 500 +80.3%.
- Next earnings: 2026-10-29, EPS estimate USD 0.3, revenue estimate $305M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $539M | $699M | $938M | $807M | $1.73B | $1.01B |
| Operating income | -$374M | -$447M | -$440M | -$303M | $867M | $126M |
| Net income | -$524M | -$559M | -$627M | -$363M | $683M | -$38.4M |
| EPS (diluted) | -$7.43 | -$7.79 | -$8.37 | -$4.73 | $7.78 | — |
| Free cash flow | -$280M | -$389M | -$187M | -$114M | $702M | -$39.8M |
| Operating margin | -69.5% | -64.0% | -46.9% | -37.5% | 50.1% | 12.5% |
| Net margin | -97.3% | -80.0% | -66.8% | -45.0% | 39.4% | -3.8% |
| Revenue growth | +41.4% | +29.7% | +34.2% | -14.0% | +114.5% | — |
| Cash + short-term investments | $773M | $411M | $877M | $1.14B | $1.95B | — |
| Total debt | $431M | $572M | $284M | $285M | — | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 5.2x · EV/EBITDA 20.0x · EV/Sales 3.6x · FCF yield -0.76% · Earnings yield -0.73% · Net cash $1.64B · EV $3.62B
P/E at fiscal year-ends: Dec 2025 9.8x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold PTCT. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Polen Capital | Polen Capital Management | 0.02% | $2.0M | New position |

## Insider sales (SEC Form 4, open-market, last ~7 months)
28 of 28 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-10-14 | Schmertzler Michael | Director | 2,500 | $149K | 0.2% | Yes | Too little history (no open-market trades in 2025) |
| 2026-10-09 | Boulding Mark Elliott | EXEC. VP AND CLO | 192 | $12K | 0.2% | Yes (adopted September 10, 2025) | Routine (sold in Jan each year 2023–2025; this trade is outside those months) |
| 2026-10-07 | Schmertzler Michael | Director | 2,500 | $158K | 0.2% | Yes | Too little history (no open-market trades in 2025) |
| 2026-10-05…2026-10-06 | Boulding Mark Elliott | EXEC. VP AND CLO | 2,073 | $133K | 1.9% | Yes (adopted September 10, 2025) | Routine (sold in Jan each year 2023–2025; this trade is outside those months) |
| 2026-09-30 | Steele Glenn Jr Md Phd | Director | 12,000 | $782K | 34.8% | Yes (adopted March 9, 2026) | Too little history (no open-market trades in 2023–2025) |
| 2026-09-16…2026-09-17 | Schmertzler Michael | Director | 20,000 | $1.3M | 1.4% | Yes | Too little history (no open-market trades in 2025) |
| 2026-09-09…2026-09-10 | Schmertzler Michael | Director | 20,000 | $1.4M | 1.5% | Yes | Too little history (no open-market trades in 2025) |
| 2026-08-26…2026-08-27 | Schmertzler Michael | Director | 25,000 | $1.8M | 1.6% | Yes | Too little history (no open-market trades in 2025) |
| 2026-08-19…2026-08-20 | Schmertzler Michael | Director | 25,000 | $1.8M | 1.6% | Yes | Too little history (no open-market trades in 2025) |
| 2026-08-17 | Boulding Mark Elliott | EXEC. VP AND CLO | 2,813 | $204K | 2.6% | Yes (adopted September 10, 2025) | Routine (sold in Jan each year 2023–2025; this trade is outside those months) |
| 2026-08-04 | Klein Matthew B. | CHIEF EXECUTIVE OFFICER | 10,292 | $706K | 2.6% | Yes | Routine (sold in Jan & Apr each year 2023–2025; this trade is outside those months) |
| 2026-07-14 | Gravier Pierre | CHIEF FINANCIAL OFFICER | 3,494 | $281K | 4% | Yes | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-07-09 | Smith Mary L. | Director | 15,834 | $1.4M | 42.1% | Yes (adopted November 11, 2025) | Too little history (no open-market trades in 2023–2025) |
| 2026-07-09 | Almstead Neil Gregory | CHIEF TECHNICAL OPS OFFICER | 2,464 | $222K | 3.8% | Yes (adopted November 11, 2025) | Routine (sold in Jan each year 2023–2025; this trade is outside those months) |
| 2026-07-06…2026-07-07 | Almstead Neil Gregory | CHIEF TECHNICAL OPS OFFICER | 46,774 | $4.1M | 42.5% | Yes (adopted November 11, 2025) | Routine (sold in Jan each year 2023–2025; this trade is outside those months) |
| 2026-07-06 | Boulding Mark Elliott | EXEC. VP AND CLO | 5,079 | $432K | 4.6% | Yes (adopted September 10, 2025) | Routine (sold in Jan each year 2023–2025; this trade is outside those months) |
| 2026-06-26 | Almstead Neil Gregory | CHIEF TECHNICAL OPS OFFICER | 8,130 | $693K | 11.5% | Yes (adopted November 11, 2025) | Routine (sold in Jan each year 2023–2025; this trade is outside those months) |
| 2026-06-24…2026-06-25 | Almstead Neil Gregory | CHIEF TECHNICAL OPS OFFICER | 26,283 | $2.3M | 30.4% | Yes (adopted November 11, 2025) | Routine (sold in Jan each year 2023–2025; this trade is outside those months) |
| 2026-06-22 | Almstead Neil Gregory | CHIEF TECHNICAL OPS OFFICER | 23,749 | $1.9M | 27.4% | Yes (adopted November 11, 2025) | Routine (sold in Jan each year 2023–2025; this trade is outside those months) |
| 2026-06-17 | Utter Christine Marie | SVP, CHIEF ACCOUNTING OFFICER | 19,686 | $1.5M | 21.9% | Yes (adopted March 17, 2026) | Routine (sold in Jan each year 2023–2025; this trade is outside those months) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 2.00 on a 1–5 scale), 16 analysts; mean target USD 97.81 (low 62, high 137).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-08 | RBC Capital | Target lowered | Sector Perform | $85 → $75 |
| 2026-09-22 | Cantor Fitzgerald | Target raised | Overweight | $130 → $137 |
| 2026-08-14 | Barclays | Target raised | Overweight | $120 → $122 |
| 2026-08-13 | Wells Fargo | Target raised | Overweight | $106 → $109 |
| 2026-07-31 | Morgan Stanley | Target raised | Overweight | $93 → $104 |
| 2026-07-31 | Wells Fargo | Target raised | Overweight | $93 → $106 |
| 2026-07-20 | Wells Fargo | Target lowered | Overweight | $95 → $93 |
| 2026-07-16 | Cantor Fitzgerald | Target raised | Overweight | $124 → $130 |
| 2026-07-07 | RBC Capital | Target raised | Sector Perform | $82 → $85 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -5.6% | +75.2% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -5.7% | +11.8% |
| Volatility (annualized) | 40.5% | 55.9% |
| Max drawdown | -33.9% (Jul 2026→Oct 2026) | -68.3% (May 2023→Oct 2023) |

## Peers (Biotechnology)
BLTE (Belite Bio, Inc) USD 150.27 -1.90% · LGND (Ligand Pharmaceuticals Incorpor) USD 307.82 -2.21% · IOVA (Iovance Biotherapeutics, Inc.) USD 14.14 -3.28% · PRAX (Praxis Precision Medicines, Inc) USD 258.92 +0.96% · IONS (Ionis Pharmaceuticals, Inc.) USD 43.91 -0.81% · TGTX (TG Therapeutics, Inc.) USD 53.16 -0.08%

## More
Full page: https://nexqual.com/PTCT · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in PTCT's own 10-K filed 2026-02-19 (https://www.sec.gov/Archives/edgar/data/1070081/000110465926017575/tmb-20251231x10k.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Akcea Therapeutics | "In addition, Akcea has granted to us a non-exclusive right and license, with the right to grant certain sublicenses, under Akcea's core intellectual property and manufacturing intellectual property to develop, manufactur…" |
| Supplier | Faes Farma | "Under an Exclusive License and Supply Agreement, or the Faes Agreement, with Faes Farma, S.A., or Faes, we are required to pay royalties as a percentage of or as a fixed payment with respect to net product sales by us al…" |
| Partner | Novartis Pharmaceuticals | "In November 2024, we entered into a License and Collaboration Agreement with Novartis Pharmaceuticals Corporation, or Novartis, relating to our votoplam program, or the Novartis Agreement, which included related molecule…" |
| Partner | Royalty Pharma plc (RPRX) | "Pursuant to Amendment No. 2, we sold to Royalty Pharma our retained right to receive sales-based royalty payments, or the Royalty, on worldwide net sales of Evrysdi and any other product developed pursuant to the SMA Lic…" |
| Partner | Shiratori Pharmaceutical | "We currently have ongoing collaborations with Roche and the SMA Foundation for SMA, a license agreement with National Taiwan University, or NTU, for Upstaza, a collaboration and license agreement with Akcea for Tegsedi a…" |
| Partner | IONIS PHARMACEUTICALS INC (IONS) | "PTC Therapeutics International Limited, our subsidiary, entered into a Collaboration and License Agreement, or the Tegsedi-Waylivra Agreement, dated August 1, 2018 by and between us and Akcea, a subsidiary of Ionis Pharm…" |
| Partner | Agilis Biotherapeutics | "Pursuant to the license and technology transfer agreement, originally entered into between Agilis Biotherapeutics, Inc., or Agilis, NTU and Professor Wuh-Liang (Paul) Hwu, in December 2015, or the NTU Licensing Agreement…" |
| Partner | Fitzgerald and RBC Capital Markets | "Sales of substantial amounts of shares of our common stock or other securities by our stockholders or by us, including sales made under our At the Market Offering Sales Agreement with Cantor Fitzgerald and RBC Capital Ma…" |

Other companies that name PTCT in their own reports (relationship from PTCT's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | Lexeo Therapeutics, Inc. (LXEO) | 10-K 2026-03-30 | "With respect to LX2006, we are aware of clinical stage gene therapy programs in development at Solid Biosciences Inc. and those being developed in collaborations between Voyager Therapeutics, Inc. and…" |
| partner | PRECIGEN, INC. (PGEN) | 10-K 2026-03-25 | "In September 2025, the Company and PTC Therapeutics mutually agreed to terminate their existing exclusive channel collaboration ("ECC") agreement." |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Product | $238.8M | 66.2% | +101.8% |
| — Sephience (part of Product) | $151.3M | 42.0% | — |
| — Translarna (part of Product) | $42.2M | 11.7% | -29.0% |
| — Emflaza (part of Product) | $24.6M | 6.8% | -32.2% |
| — Upstaza & Kebilidi (part of Product) | $11.2M | 3.1% | -6.1% |
| — Other Products (part of Product) | $9.5M | 2.6% | -10.6% |
| Royalty | $71.1M | 19.7% | +23.4% |
| Collaboration & License Revenue | $50.6M | 14.0% | +1620.3% |
| Total revenue | $360.5M | 100% | — |

## Revenue by region (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $152.2M | 42.2% | +318.6% |
| All Other Countries Other Than Russia Brazil & United States | $52.8M | 14.7% | +130.7% |
| Brazil | $25.6M | 7.1% | +41.1% |
| Russia | $8.2M | 2.3% | -80.0% |
| Total revenue | $360.5M | 100% | — |
The lines above cover 66.2% of total revenue.

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.30 | $0.54 | -44.1% | $304.6M | 3 |
| Next quarter (ends 2026-12-31) | $0.18 | $0.53 | -66.9% | $319.0M | 3 |
| Current fiscal year (ends 2026-12-31) | $1.52 | $1.49 | +1.8% | $1.26B | 3 |
| Next fiscal year (ends 2027-12-31) | $2.37 | $3.09 | -23.2% | $1.38B | 3 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-10-29): ±13.6%; last 8 reports averaged ±6.3%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 58.6% | ±13.6% |
| 2026-12-18 | 56 | 56.2% | ±18.1% |
| 2027-01-15 | 84 | 59.5% | ±23.2% |
| 2027-03-19 | 147 | 57.5% | ±29.4% |
| 2027-06-17 | 237 | 54.5% | ±35.2% |