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

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding sold 5,079 shares of the firm’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $85.08, for a total transaction of $432,121.32. Following the completion of the sale, the vice president owned 105,272 shares of the company’s stock, valued at $8,956,541.76. This trade represents a 4.60% decrease in their position. The transaction was disclosed in a document filed 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 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 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 shares were sold at an average price of $78.97, for a total transaction of $279,553.80.

PTC Therapeutics Trading Down 0.7%

Shares of PTCT opened at $88.57 on Thursday. PTC Therapeutics, Inc. has a twelve month low of $43.17 and a twelve month high of $89.85. The stock’s 50 day moving average is $74.77 and its two-hundred day moving average is $72.61. The firm has a market capitalization of $7.35 billion, a PE ratio of -38.01, a P/E/G ratio of 4.10 and a beta of 0.53.

PTC Therapeutics (NASDAQ:PTCT) last issued 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. The business had revenue of $272.55 million during the quarter, compared to the consensus estimate of $217.42 million. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 22.58%.The company’s revenue for the quarter was up 43.5% on a year-over-year basis. During the same period in the prior year, the business posted $10.04 EPS. On average, sell-side analysts predict that PTC Therapeutics, Inc. will post 0.78 EPS for the current year.

Institutional Trading of PTC Therapeutics

A number of institutional investors have recently bought and sold shares of PTCT. Vanguard Group Inc. increased its position in shares of PTC Therapeutics by 6.2% in the fourth quarter. Vanguard Group Inc. now owns 8,803,203 shares of the biopharmaceutical company’s stock valued at $668,691,000 after buying an additional 514,204 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of PTC Therapeutics by 48.3% in the 1st quarter. Janus Henderson Group PLC now owns 7,193,433 shares of the biopharmaceutical company’s stock worth $489,997,000 after buying an additional 2,342,101 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of PTC Therapeutics by 4.8% in the 3rd quarter. Wellington Management Group LLP now owns 4,918,619 shares of the biopharmaceutical company’s stock worth $301,856,000 after buying an additional 224,481 shares in the last quarter. State Street Corp grew its stake in PTC Therapeutics by 34.2% in the 4th quarter. State Street Corp now owns 4,206,126 shares of the biopharmaceutical company’s stock valued at $319,497,000 after acquiring an additional 1,071,343 shares during the last quarter. Finally, Toronto Dominion Bank grew its stake in PTC Therapeutics by 27.5% in the 4th quarter. Toronto Dominion Bank now owns 4,138,215 shares of the biopharmaceutical company’s stock valued at $314,339,000 after acquiring an additional 891,690 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Citigroup raised PTC Therapeutics from a “neutral” rating to a “buy” rating and raised their target price for the company from $75.00 to $108.00 in a report on Tuesday, June 9th. Truist Financial raised shares of PTC Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. Wells Fargo & Company increased their price target on shares of PTC Therapeutics from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, May 8th. TD Cowen upgraded shares of PTC Therapeutics from a “hold” rating to a “buy” rating and raised their price objective for the company from $75.00 to $90.00 in a research note on Friday, May 8th. Finally, Jefferies Financial Group raised shares of PTC Therapeutics from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $76.00 to $85.00 in a report on Wednesday, May 27th. One equities research analyst has 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 data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $91.57.

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.