Insider Selling: PTC Therapeutics (NASDAQ:PTCT) VP Sells $204,139.41 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding sold 2,813 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $72.57, for a total transaction of $204,139.41. Following the sale, the vice president directly owned 105,272 shares of the company’s stock, valued at approximately $7,639,589.04. This trade represents a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 transaction of $432,121.32.
• 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.

PTC Therapeutics Stock Performance

PTCT opened at $69.82 on Friday. PTC Therapeutics, Inc. has a 52 week low of $48.28 and a 52 week high of $90.87. The company has a fifty day moving average price of $77.62 and a two-hundred day moving average price of $72.35. The firm has a market capitalization of $5.83 billion, a PE ratio of -120.38, a P/E/G ratio of 2.18 and a beta of 0.56.

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 analysts’ consensus estimates of $0.24 by $0.68. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 3.80%.The business had revenue of $360.52 million during the quarter, compared to the consensus estimate of $298.63 million. During the same quarter in the prior year, the company posted ($0.83) earnings per share. The firm’s revenue was up 101.5% on a year-over-year basis. Equities analysts forecast that PTC Therapeutics, Inc. will post 1.17 EPS for the current year.

Institutional Trading of PTC Therapeutics

A number of large investors have recently bought and sold shares of the business. UMB Bank n.a. acquired a new stake in PTC Therapeutics during the 4th quarter worth approximately $26,000. Comerica Bank increased its position in shares of PTC Therapeutics by 868.5% during the third quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 469 shares in the last quarter. Salomon & Ludwin LLC bought a new stake in shares of PTC Therapeutics during the fourth quarter worth $41,000. Allworth Financial LP raised its stake in shares of 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 purchasing an additional 247 shares during the period. Finally, First Horizon Corp acquired a new stake in PTC Therapeutics in the 4th quarter valued at approximately $53,000.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PTCT. Zacks Research lowered shares of PTC Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 6th. Jefferies Financial Group raised shares of PTC Therapeutics from a “hold” rating to a “buy” rating and upped their target price for the company from $76.00 to $85.00 in a research note on Wednesday, May 27th. Wall Street Zen cut shares of PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Weiss Ratings cut shares of PTC Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday. Finally, Citigroup raised shares of PTC Therapeutics from a “neutral” rating to a “buy” rating and boosted their price target for the company from $75.00 to $108.00 in a report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, PTC Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $98.55.

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.