Mark Elliott Boulding Sells 5,079 Shares of PTC Therapeutics (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding sold 5,079 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $85.08, for a total value of $432,121.32. Following the completion of the transaction, the vice president directly owned 105,272 shares in the company, valued at approximately $8,956,541.76. The trade was a 4.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 Wednesday, June 17th, Mark Elliott Boulding sold 10,462 shares of PTC Therapeutics stock. The shares were sold at an average price of $78.65, for a total transaction of $822,836.30.
• 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 stock was sold at an average price of $78.97, for a total transaction of $279,553.80.

PTC Therapeutics Stock Up 1.1%

Shares of NASDAQ:PTCT opened at $89.57 on Friday. PTC Therapeutics, Inc. has a fifty-two week low of $43.17 and a fifty-two week high of $90.87. The firm’s 50-day simple moving average is $75.16 and its 200-day simple moving average is $72.69. The company has a market cap of $7.43 billion, a price-to-earnings ratio of -38.44, a PEG ratio of 4.07 and a beta of 0.53.

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

Wall Street Analysts Forecast Growth

PTCT has been the subject of a number of analyst reports. Raymond James Financial initiated coverage on PTC Therapeutics in a research note on Friday, April 10th. They set an “outperform” rating and a $108.00 target price for the company. Morgan Stanley reaffirmed an “overweight” rating and set a $94.00 price objective on shares of PTC Therapeutics in a report on Friday, May 8th. Jefferies Financial Group upgraded PTC Therapeutics from a “hold” rating to a “buy” rating and increased their price objective for the stock from $76.00 to $85.00 in a research report on Wednesday, May 27th. Royal Bank Of Canada raised their target price on PTC Therapeutics from $82.00 to $85.00 and gave the company a “sector perform” rating in a report on Tuesday. Finally, Citigroup upgraded shares of PTC Therapeutics from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $75.00 to $108.00 in a research report on Tuesday, June 9th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, PTC Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $91.57.

PTC Therapeutics News Summary

Here are the key news stories impacting PTC Therapeutics this week:

• Positive Sentiment: Zacks Research upgraded PTC Therapeutics from hold to strong-buy, reflecting improved earnings expectations and signaling that analysts see more upside potential for PTCT. Article Title
• Positive Sentiment: Biotech is showing relative strength in the market, and that sector-wide momentum may be helping sentiment around PTC Therapeutics as investors rotate into healthcare names with growth potential. Article Title
• Neutral Sentiment: Several insider sales were disclosed, including moves by VP Mark Elliott Boulding and insider Neil Gregory Almstead. The transactions were made under pre-arranged 10b5-1 plans, which often lessens the negative read-through, but the selling can still temper enthusiasm. Article Title

Institutional Trading of PTC Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Empowered Funds LLC acquired a new stake in shares of PTC Therapeutics in the first quarter valued at approximately $1,999,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of PTC Therapeutics by 11.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 178,755 shares of the biopharmaceutical company’s stock worth $9,109,000 after purchasing an additional 18,504 shares during the last quarter. Quantbot Technologies LP lifted its stake in PTC Therapeutics by 280.1% in the 2nd quarter. Quantbot Technologies LP now owns 2,478 shares of the biopharmaceutical company’s stock valued at $121,000 after buying an additional 1,826 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in PTC Therapeutics in the 2nd quarter valued at approximately $1,661,000. Finally, EverSource Wealth Advisors LLC grew its holdings in PTC Therapeutics by 247.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,143 shares of the biopharmaceutical company’s stock valued at $56,000 after buying an additional 814 shares during the last quarter.

PTC Therapeutics Company Profile

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.