Mark Elliott Boulding Sells 1,929 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding sold 1,929 shares of PTC Therapeutics stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $46.18, for a total transaction of $89,081.22. Following the transaction, the vice president now directly owns 103,901 shares in the company, valued at approximately $4,798,148.18. This represents a 1.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, May 16th, Mark Elliott Boulding sold 883 shares of PTC Therapeutics stock. The stock was sold at an average price of $46.02, for a total transaction of $40,635.66.
• On Wednesday, March 12th, Mark Elliott Boulding sold 15,521 shares of PTC Therapeutics stock. The stock was sold at an average price of $53.30, for a total transaction of $827,269.30.
• On Wednesday, February 19th, Mark Elliott Boulding sold 1,333 shares of PTC Therapeutics stock. The stock was sold at an average price of $50.10, for a total transaction of $66,783.30.

PTC Therapeutics Stock Performance

Shares of NASDAQ:PTCT opened at $47.20 on Wednesday. PTC Therapeutics, Inc. has a 52-week low of $28.72 and a 52-week high of $58.38. The firm has a fifty day moving average of $47.98 and a 200 day moving average of $47.29. The firm has a market capitalization of $3.74 billion, a PE ratio of -7.95 and a beta of 0.52.

PTC Therapeutics (NASDAQ:PTCT) last announced its earnings results on Tuesday, May 6th. The biopharmaceutical company reported $10.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $9.19. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $437.16 million. During the same quarter last year, the firm posted ($1.20) earnings per share. The firm’s revenue was down 9.6% on a year-over-year basis. On average, sell-side analysts forecast that PTC Therapeutics, Inc. will post -4.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Intech Investment Management LLC boosted its position in PTC Therapeutics by 62.8% during the first quarter. Intech Investment Management LLC now owns 39,307 shares of the biopharmaceutical company’s stock valued at $2,003,000 after buying an additional 15,167 shares during the period. Bayforest Capital Ltd purchased a new stake in PTC Therapeutics during the first quarter valued at about $415,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in PTC Therapeutics by 11.5% during the first 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 buying an additional 18,504 shares during the period. Empowered Funds LLC purchased a new stake in PTC Therapeutics during the first quarter valued at about $1,999,000. Finally, Parkman Healthcare Partners LLC boosted its position in PTC Therapeutics by 58.0% during the first quarter. Parkman Healthcare Partners LLC now owns 280,314 shares of the biopharmaceutical company’s stock valued at $14,285,000 after buying an additional 102,946 shares during the period.

Analysts Set New Price Targets

PTCT has been the topic of a number of research reports. StockNews.com cut shares of PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Friday, May 16th. Citigroup raised shares of PTC Therapeutics from a “sell” rating to a “neutral” rating and lowered their price target for the stock from $50.00 to $40.00 in a report on Wednesday, May 7th. JPMorgan Chase & Co. lowered their price target on shares of PTC Therapeutics from $75.00 to $67.00 and set an “overweight” rating on the stock in a report on Wednesday, May 7th. Barclays lowered their target price on shares of PTC Therapeutics from $56.00 to $42.00 and set an “equal weight” rating on the stock in a report on Thursday, May 8th. Finally, Bank of America raised shares of PTC Therapeutics from a “neutral” rating to a “buy” rating and boosted their target price for the company from $55.00 to $68.00 in a report on Friday, May 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $63.25.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders in the United States and internationally. The company offers Translarna and Emflaza for the treatment of Duchenne muscular dystrophy; Upstaza to treat aromatic l-amino acid decarboxylas (AADC) deficiency, a central nervous system disorder; Tegsedi and Waylivra for the treatment of rare diseases; and Evrysdi to treat spinal muscular atrophy (SMA) in adults and children.