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

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding sold 2,813 shares of the business’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $72.57, for a total value of $204,139.41. Following the sale, the vice president directly owned 105,272 shares in the company, valued at $7,639,589.04. This trade represents a 2.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 Monday, July 6th, Mark Elliott Boulding sold 5,079 shares of PTC Therapeutics stock. The shares were 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 shares were sold at an average price of $78.65, for a total value of $822,836.30.

PTC Therapeutics Trading Down 4.3%

Shares of PTCT opened at $70.52 on Friday. The business’s 50-day moving average price is $77.73 and its 200 day moving average price is $72.37. The stock has a market capitalization of $5.89 billion, a P/E ratio of -121.59, a P/E/G ratio of 2.27 and a beta of 0.56. PTC Therapeutics, Inc. has a 1-year low of $48.27 and a 1-year high of $90.87.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.68. PTC Therapeutics had a negative net margin of 3.80% and a negative return on equity of 362.45%. The company had revenue of $360.52 million during the quarter, compared to analyst estimates of $298.63 million. During the same period in the prior year, the firm earned ($0.83) earnings per share. The business’s quarterly revenue was up 101.5% on a year-over-year basis. On average, research analysts predict that PTC Therapeutics, Inc. will post 1.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PTCT shares. Wells Fargo & Company boosted their target price on shares of PTC Therapeutics from $106.00 to $109.00 and gave the company an “overweight” rating in a research note on Thursday, August 13th. Morgan Stanley raised their target price on PTC Therapeutics from $93.00 to $104.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Cantor Fitzgerald lifted their price target on PTC Therapeutics from $124.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. TD Cowen raised PTC Therapeutics from a “hold” rating to a “buy” rating and upped their price target for the company from $75.00 to $90.00 in a research report on Friday, May 8th. Finally, Wall Street Zen raised 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 issued a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $98.55.

Hedge Funds Weigh In On PTC Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its position in shares of PTC Therapeutics by 16.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the biopharmaceutical company’s stock valued at $71,000 after purchasing an additional 151 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of PTC Therapeutics by 8.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,128 shares of the biopharmaceutical company’s stock worth $213,000 after buying an additional 244 shares during the period. Allworth Financial LP grew its stake in PTC Therapeutics by 63.8% in the 4th quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company’s stock valued at $48,000 after buying an additional 247 shares during the last quarter. Measured Wealth Private Client Group LLC grew its stake in PTC Therapeutics by 5.6% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 4,963 shares of the biopharmaceutical company’s stock valued at $377,000 after buying an additional 265 shares during the last quarter. Finally, Evolve Private Wealth LLC raised its holdings in PTC Therapeutics by 5.2% in the 1st quarter. Evolve Private Wealth LLC now owns 6,122 shares of the biopharmaceutical company’s stock worth $417,000 after acquiring an additional 305 shares during the period.

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.