PTC Therapeutics (NASDAQ:PTCT) VP Mark Elliott Boulding Sells 10,462 Shares

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding sold 10,462 shares of the stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $78.65, for a total transaction of $822,836.30. Following the completion of the sale, the vice president owned 105,272 shares of the company’s stock, valued at approximately $8,279,642.80. This represents a 9.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Mark Elliott Boulding also recently made the following trade(s):

• On Friday, May 15th, Mark Elliott Boulding sold 2,812 shares of PTC Therapeutics stock. The stock was sold at an average price of $72.18, for a total transaction of $202,970.16.
• On Friday, May 8th, Mark Elliott Boulding sold 3,540 shares of PTC Therapeutics stock. The shares were sold at an average price of $78.97, for a total transaction of $279,553.80.
• On Monday, April 6th, Mark Elliott Boulding sold 2,265 shares of PTC Therapeutics stock. The stock was sold at an average price of $69.45, for a total value of $157,304.25.

PTC Therapeutics Trading Up 2.5%

Shares of PTCT opened at $80.96 on Tuesday. The stock has a 50 day moving average of $71.57 and a 200 day moving average of $71.89. The company has a market capitalization of $6.72 billion, a price-to-earnings ratio of -34.75, a PEG ratio of 3.63 and a beta of 0.55. PTC Therapeutics, Inc. has a 12 month low of $43.17 and a 12 month high of $87.50.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.42. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 22.58%.The business had revenue of $272.55 million for the quarter, compared to analysts’ expectations of $217.42 million. During the same quarter in the previous year, the firm earned $10.04 earnings per share. The business’s revenue was up 43.5% on a year-over-year basis. As a group, equities research analysts predict that PTC Therapeutics, Inc. will post 0.78 earnings per share for the current year.

Hedge Funds Weigh In On PTC Therapeutics

Several large investors have recently modified their holdings of PTCT. UMB Bank n.a. bought a new stake in shares of PTC Therapeutics in the fourth quarter valued at approximately $26,000. Optiver Holding B.V. boosted its holdings in PTC Therapeutics by 96.5% in the 3rd quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock worth $31,000 after buying an additional 249 shares during the period. Comerica Bank grew its stake in PTC Therapeutics by 868.5% in the 3rd quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 469 shares in the last quarter. Salomon & Ludwin LLC purchased a new position in PTC Therapeutics in the 4th quarter valued at approximately $41,000. Finally, IFP Advisors Inc grew its stake in PTC Therapeutics by 68.1% in the 3rd quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock valued at $47,000 after buying an additional 310 shares in the last quarter.

Analyst Ratings Changes

PTCT has been the subject of a number of research analyst reports. Barclays restated an “overweight” rating and set a $120.00 price objective on shares of PTC Therapeutics in a report on Monday, February 23rd. Wells Fargo & Company boosted their target price on shares of PTC Therapeutics from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Weiss Ratings downgraded shares of PTC Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Jefferies Financial Group raised shares of PTC Therapeutics from a “hold” rating to a “buy” rating and increased their target price for the company from $76.00 to $85.00 in a research report on Wednesday, May 27th. Finally, Truist Financial upgraded shares of PTC Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $91.36.

About PTC Therapeutics

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.