PTC Therapeutics (NASDAQ:PTCT) VP Sells $202,970.16 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding sold 2,812 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $72.18, for a total value of $202,970.16. Following the completion of the transaction, the vice president directly owned 105,212 shares of the company’s stock, valued at approximately $7,594,202.16. The trade was a 2.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 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 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 value 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.
• On Thursday, February 19th, Mark Elliott Boulding sold 3,019 shares of PTC Therapeutics stock. The shares were sold at an average price of $69.48, for a total value of $209,760.12.
• On Wednesday, February 18th, Mark Elliott Boulding sold 3,081 shares of PTC Therapeutics stock. The shares were sold at an average price of $69.36, for a total value of $213,698.16.

PTC Therapeutics Stock Performance

Shares of NASDAQ:PTCT opened at $69.79 on Friday. The company’s fifty day moving average is $68.93 and its 200-day moving average is $72.43. PTC Therapeutics, Inc. has a 52 week low of $43.17 and a 52 week high of $87.50. The company has a market capitalization of $5.79 billion, a PE ratio of -29.95, a P/E/G ratio of 13.24 and a beta of 0.53.

PTC Therapeutics (NASDAQ:PTCT) last announced its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.42. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. The business had revenue of $272.55 million during the quarter, compared to analysts’ expectations of $217.42 million. During the same quarter last year, the company posted $10.04 EPS. The firm’s revenue for the quarter was up 43.5% on a year-over-year basis. On average, analysts forecast that PTC Therapeutics, Inc. will post 0.19 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PTCT. Jefferies Financial Group cut PTC Therapeutics from a “buy” rating to a “hold” rating and dropped their price target for the company from $91.00 to $76.00 in a report on Monday, March 30th. Truist Financial raised shares of PTC Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. Wall Street Zen cut PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, February 21st. TD Cowen raised PTC Therapeutics from a “hold” rating to a “buy” rating and raised their price objective for the stock from $75.00 to $90.00 in a research note on Friday, May 8th. Finally, Raymond James Financial started coverage on shares of PTC Therapeutics in a research note on Friday, April 10th. They issued an “outperform” rating and a $108.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $88.36.

Hedge Funds Weigh In On PTC Therapeutics

Several large investors have recently modified their holdings of the stock. WCM Investment Management LLC bought a new position in shares of PTC Therapeutics during the third quarter worth approximately $8,919,000. Teachers Retirement System of The State of Kentucky lifted its position in PTC Therapeutics by 86.9% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 40,858 shares of the biopharmaceutical company’s stock worth $3,103,000 after purchasing an additional 19,000 shares during the period. Sector Gamma AS boosted its position in shares of PTC Therapeutics by 28.0% during the 3rd quarter. Sector Gamma AS now owns 118,112 shares of the biopharmaceutical company’s stock worth $7,249,000 after acquiring an additional 25,862 shares in the last quarter. QRG Capital Management Inc. acquired a new stake in shares of PTC Therapeutics in the 3rd quarter valued at $2,090,000. Finally, Jefferies Financial Group Inc. bought a new position in PTC Therapeutics in the third quarter valued at about $97,252,000.

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.