PTC Therapeutics (NASDAQ:PTCT) VP Mark Elliott Boulding Sells 2,813 Shares of Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding sold 2,813 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $72.57, for a total transaction of $204,139.41. Following the sale, the vice president owned 105,272 shares in the company, valued at $7,639,589.04. This represents a 2.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, July 6th, Mark Elliott Boulding sold 5,079 shares of PTC Therapeutics stock. The stock was sold at an average price of $85.08, for a total value of $432,121.32.
• On Wednesday, June 17th, Mark Elliott Boulding sold 10,462 shares of PTC Therapeutics stock. The stock was sold at an average price of $78.65, for a total value of $822,836.30.

PTC Therapeutics Stock Performance

PTCT stock traded up $1.04 during midday trading on Wednesday, reaching $73.67. 1,514,567 shares of the company traded hands, compared to its average volume of 1,439,126. The firm has a market capitalization of $6.15 billion, a price-to-earnings ratio of -127.02, a P/E/G ratio of 2.21 and a beta of 0.56. PTC Therapeutics, Inc. has a 52-week low of $48.09 and a 52-week high of $90.87. The business has a 50 day moving average of $77.81 and a 200-day moving average of $72.43.

PTC Therapeutics (NASDAQ:PTCT) last released its earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.68. The firm had revenue of $360.52 million for the quarter, compared to the consensus estimate of $298.63 million. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 3.80%.The company’s revenue for the quarter was up 101.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.83) EPS. Research analysts anticipate that PTC Therapeutics, Inc. will post 1.17 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UMB Bank n.a. purchased a new stake in shares of PTC Therapeutics in the 4th quarter worth approximately $26,000. Comerica Bank increased its holdings in shares of 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 acquiring an additional 469 shares during the period. Salomon & Ludwin LLC bought a new position in shares of PTC Therapeutics in the 4th quarter worth $41,000. Allworth Financial LP raised its holdings in PTC Therapeutics by 63.8% in the fourth quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company’s stock worth $48,000 after purchasing an additional 247 shares in the last quarter. Finally, First Horizon Corp purchased a new stake in shares of PTC Therapeutics during the fourth quarter valued at about $53,000.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. TD Cowen upgraded PTC Therapeutics from a “hold” rating to a “buy” rating and increased their price target for the stock from $75.00 to $90.00 in a report on Friday, May 8th. Zacks Research downgraded PTC Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. Royal Bank Of Canada boosted their target price on shares of PTC Therapeutics from $82.00 to $85.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 7th. Wells Fargo & Company upped their price target on shares of PTC Therapeutics from $106.00 to $109.00 and gave the stock an “overweight” rating in a report on Thursday, August 13th. Finally, Wall Street Zen raised shares of PTC Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $98.55.

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.