PTC Therapeutics (NASDAQ:PTCT) VP Mark Elliott Boulding Sells 2,812 Shares of Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding sold 2,812 shares of PTC Therapeutics stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $72.18, for a total value of $202,970.16. Following the transaction, the vice president owned 105,212 shares of the company’s stock, valued at approximately $7,594,202.16. This represents 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 shares were 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 stock was sold at an average price of $69.36, for a total value of $213,698.16.

PTC Therapeutics Price Performance

Shares of NASDAQ:PTCT opened at $70.31 on Wednesday. The business’s 50 day moving average price is $68.86 and its 200-day moving average price is $72.40. The firm has a market capitalization of $5.83 billion, a PE ratio of -30.18, a P/E/G ratio of 13.08 and a beta of 0.53. PTC Therapeutics, Inc. has a 1 year low of $43.17 and a 1 year high of $87.50.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly 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. The firm had revenue of $272.55 million for the quarter, compared to analyst estimates of $217.42 million. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 22.58%.The business’s revenue was up 43.5% on a year-over-year basis. During the same period in the previous year, the company posted $10.04 earnings per share. As a group, analysts expect that PTC Therapeutics, Inc. will post 0.19 earnings per share for the current year.

Hedge Funds Weigh In On PTC Therapeutics

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PTCT shares. Barclays reaffirmed an “overweight” rating and issued a $120.00 price target on shares of PTC Therapeutics in a research note on Monday, February 23rd. Raymond James Financial started coverage on PTC Therapeutics in a research note on Friday, April 10th. They issued an “outperform” rating and a $108.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of PTC Therapeutics in a research note on Friday, February 20th. Wells Fargo & Company lifted their price target on PTC Therapeutics from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Finally, Jefferies Financial Group lowered PTC Therapeutics from a “buy” rating to a “hold” rating and lowered their price target for the stock from $91.00 to $76.00 in a research note on Monday, March 30th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $88.36.

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.