PTC Therapeutics (NASDAQ:PTCT) VP Sells $202,970.16 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding sold 2,812 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $72.18, for a total transaction of $202,970.16. Following the sale, the vice president directly owned 105,212 shares in the company, valued at $7,594,202.16. The trade was a 2.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 Friday, May 8th, Mark Elliott Boulding sold 3,540 shares of PTC Therapeutics stock. The stock was sold at an average price of $78.97, for a total transaction of $279,553.80.
• On Monday, April 6th, Mark Elliott Boulding sold 2,265 shares of PTC Therapeutics stock. The stock was sold at an average price of $69.45, for a total transaction of $157,304.25.
• On Thursday, February 19th, Mark Elliott Boulding sold 3,019 shares of PTC Therapeutics stock. The stock was sold at an average price of $69.48, for a total transaction 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 transaction of $213,698.16.

PTC Therapeutics Stock Up 0.2%

Shares of NASDAQ PTCT traded up $0.16 during midday trading on Tuesday, reaching $70.31. 725,216 shares of the stock were exchanged, compared to its average volume of 1,261,384. The firm has a market cap of $5.83 billion, a price-to-earnings ratio of -30.18, a PEG ratio of 13.33 and a beta of 0.53. PTC Therapeutics, Inc. has a twelve month low of $43.17 and a twelve month high of $87.50. The firm has a 50-day simple moving average of $68.71 and a two-hundred day simple moving average of $72.38.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.42. The business had revenue of $272.55 million for the quarter, compared to analysts’ expectations of $217.42 million. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. The business’s revenue was up 43.5% on a year-over-year basis. During the same quarter last year, the company earned $10.04 EPS. Research analysts expect that PTC Therapeutics, Inc. will post 0.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on PTCT shares. Barclays reissued an “overweight” rating and issued a $120.00 price target on shares of PTC Therapeutics in a research note on Monday, February 23rd. Truist Financial raised shares of PTC Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. TD Cowen raised shares of PTC Therapeutics from a “hold” rating to a “buy” rating and lifted their price target for the company from $75.00 to $90.00 in a research note on Friday, May 8th. Wall Street Zen cut shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, February 21st. Finally, Morgan Stanley reissued an “overweight” rating and issued a $94.00 price target on shares of PTC Therapeutics in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $88.36.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. UMB Bank n.a. purchased a new position in PTC Therapeutics in the 4th quarter valued at $26,000. Smartleaf Asset Management LLC lifted its holdings in PTC Therapeutics by 101.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 236 shares in the last quarter. Optiver Holding B.V. lifted its holdings in PTC Therapeutics by 96.5% in the 3rd quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 249 shares in the last quarter. Comerica Bank lifted its holdings in PTC Therapeutics by 868.5% in the 3rd quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 469 shares in the last quarter. Finally, Salomon & Ludwin LLC purchased a new position in PTC Therapeutics in the 4th quarter valued at $41,000.

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.