PTC Therapeutics (NASDAQ:PTCT) Stock: Insider Mark Elliott Boulding Sells 1,638 Shares

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Boulding sold 1,638 shares of the business’s stock in a transaction on Monday, October 5th. The stock was sold at an average price of $64.03, for a total transaction of $104,881.14. Following the completion of the transaction, the vice president directly owned 105,272 shares in the company, valued at $6,740,566.16. This trade represents a 1.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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 Tuesday, October 6th, Mark Boulding sold 435 shares of PTC Therapeutics stock. The stock was sold at an average price of $64.16, for a total transaction of $27,909.60.
• On Monday, August 17th, Mark Boulding sold 2,813 shares of PTC Therapeutics stock. The shares were sold at an average price of $72.57, for a total transaction of $204,139.41.

PTC Therapeutics Stock Performance

Shares of NASDAQ PTCT opened at $62.56 on Friday. The company has a market cap of $5.22 billion, a P/E ratio of -107.86, a P/E/G ratio of 1.95 and a beta of 0.49. PTC Therapeutics, Inc. has a 52-week low of $61.23 and a 52-week high of $90.87. The firm’s fifty day moving average is $68.43 and its two-hundred day moving average is $71.98.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.24 by $0.68. The company had revenue of $360.52 million for the quarter, compared to the consensus estimate of $298.63 million. The firm’s revenue for the quarter was up 101.5% on a year-over-year basis. During the same period last year, the company earned ($0.83) EPS. As a group, analysts forecast that PTC Therapeutics, Inc. will post 1.17 EPS for the current fiscal year.

Hedge Funds Weigh In On PTC Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of PTCT. Allworth Financial LP purchased a new stake in PTC Therapeutics during the 2nd quarter valued at $67,000. Harbor Investment Advisory LLC bought a new stake in PTC Therapeutics in the second quarter worth $81,000. EverSource Wealth Advisors LLC boosted its stake in PTC Therapeutics by 16.9% during the first quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the biopharmaceutical company’s stock worth $71,000 after buying an additional 151 shares during the period. Quantbot Technologies LP bought a new position in PTC Therapeutics during the second quarter valued at $112,000. Finally, GAMMA Investing LLC increased its position in PTC Therapeutics by 58.1% during the second quarter. GAMMA Investing LLC now owns 1,453 shares of the biopharmaceutical company’s stock valued at $119,000 after acquiring an additional 534 shares during the last quarter.

Wall Street Analysts Forecast Growth

PTCT has been the subject of several research analyst reports. Royal Bank Of Canada cut their price target on PTC Therapeutics from $85.00 to $75.00 and set a “sector perform” rating for the company in a report on Wednesday. Leerink Partners initiated coverage on PTC Therapeutics in a report on Monday, September 14th. They set an “outperform” rating and a $98.00 price objective on the stock. Morgan Stanley increased their target price on PTC Therapeutics from $93.00 to $104.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Wells Fargo & Company raised their target price on shares of PTC Therapeutics from $106.00 to $109.00 and gave the company an “overweight” rating in a report on Thursday, August 13th. Finally, Barclays boosted their price target on shares of PTC Therapeutics from $120.00 to $122.00 and gave the stock an “overweight” rating in a research report on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $98.25.

About PTC Therapeutics

PTC Therapeutics, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for rare diseases. Its research programs use technologies designed to address genetic and molecular causes of disease, including RNA biology, protein translation and gene therapy.

The company’s commercial portfolio includes Emflaza (deflazacort), a corticosteroid approved in the United States to treat Duchenne muscular dystrophy, and Upstaza (eladocagene exuparvovec), a gene therapy for aromatic L-amino acid decarboxylase deficiency in eligible patients.