PTC Therapeutics (NASDAQ:PTCT) VP Sells $279,553.80 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding sold 3,540 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $78.97, for a total value of $279,553.80. Following the transaction, the vice president owned 105,212 shares in the company, valued at $8,308,591.64. This represents a 3.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 Monday, April 6th, Mark Elliott Boulding sold 2,265 shares of PTC Therapeutics stock. The shares were sold at an average price of $69.45, for a total value 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 shares were sold at an average price of $69.36, for a total transaction of $213,698.16.
• On Tuesday, February 17th, Mark Elliott Boulding sold 2,813 shares of PTC Therapeutics stock. The stock was sold at an average price of $69.29, for a total transaction of $194,912.77.

PTC Therapeutics Stock Performance

NASDAQ PTCT traded down $1.83 during trading on Tuesday, reaching $75.02. The company’s stock had a trading volume of 2,212,245 shares, compared to its average volume of 1,284,417. The business’s fifty day moving average price is $67.98 and its 200-day moving average price is $72.18. PTC Therapeutics, Inc. has a twelve month low of $43.17 and a twelve month high of $87.50. The firm has a market cap of $6.22 billion, a price-to-earnings ratio of -32.20 and a beta of 0.53.

PTC Therapeutics (NASDAQ:PTCT) last announced its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.42. The business had revenue of $272.55 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 43.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $10.04 earnings per share. As a group, sell-side analysts forecast that PTC Therapeutics, Inc. will post -1.09 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on PTCT shares. Wells Fargo & Company upped their price target on PTC Therapeutics from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday. Cantor Fitzgerald restated an “overweight” rating on shares of PTC Therapeutics in a research report on Friday, February 20th. Morgan Stanley reaffirmed an “overweight” rating and issued a $94.00 target price on shares of PTC Therapeutics in a report on Friday. Jefferies Financial Group lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating and dropped their price target for the stock from $91.00 to $76.00 in a research note on Monday, March 30th. Finally, Weiss Ratings lowered PTC Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $88.36.

Institutional Trading of PTC Therapeutics

A number of institutional investors have recently added to or reduced their stakes in PTCT. WCM Investment Management LLC acquired a new position in PTC Therapeutics during the third quarter worth $8,919,000. Teachers Retirement System of The State of Kentucky grew its holdings in PTC Therapeutics by 86.9% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 40,858 shares of the biopharmaceutical company’s stock valued at $3,103,000 after purchasing an additional 19,000 shares during the last quarter. Sector Gamma AS increased its position in shares of PTC Therapeutics by 28.0% in the third quarter. Sector Gamma AS now owns 118,112 shares of the biopharmaceutical company’s stock valued at $7,249,000 after buying an additional 25,862 shares in the last quarter. QRG Capital Management Inc. acquired a new position in shares of PTC Therapeutics during the 3rd quarter worth $2,090,000. Finally, Jefferies Financial Group Inc. purchased a new stake in shares of PTC Therapeutics in the 3rd quarter worth about $97,252,000.

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.