Mark Elliott Boulding Sells 10,462 Shares of PTC Therapeutics (NASDAQ:PTCT) Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Elliott Boulding sold 10,462 shares of the stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $78.65, for a total value of $822,836.30. Following the completion of the sale, the vice president owned 105,272 shares of the company’s stock, valued at approximately $8,279,642.80. This trade represents a 9.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 15th, Mark Elliott Boulding sold 2,812 shares of PTC Therapeutics stock. The shares were sold at an average price of $72.18, for a total value of $202,970.16.
• 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 value of $279,553.80.
• 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 transaction of $157,304.25.

PTC Therapeutics Trading Up 1.4%

Shares of PTC Therapeutics stock opened at $82.13 on Wednesday. PTC Therapeutics, Inc. has a 12-month low of $43.17 and a 12-month high of $87.50. The company has a market cap of $6.81 billion, a P/E ratio of -35.25, a PEG ratio of 3.72 and a beta of 0.56. The company’s fifty day simple moving average is $71.84 and its two-hundred day simple moving average is $71.94.

PTC Therapeutics (NASDAQ:PTCT) last posted its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.42. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. The firm had revenue of $272.55 million during the quarter, compared to analysts’ expectations of $217.42 million. During the same period last year, the company posted $10.04 EPS. The company’s quarterly revenue was up 43.5% compared to the same quarter last year. Analysts predict that PTC Therapeutics, Inc. will post 0.78 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on PTCT shares. Weiss Ratings downgraded PTC Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, May 11th. TD Cowen upgraded 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 report on Friday, May 8th. Raymond James Financial started coverage on PTC Therapeutics in a research note on Friday, April 10th. They issued an “outperform” rating and a $108.00 price target on the stock. Citigroup upgraded PTC Therapeutics from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $75.00 to $108.00 in a report on Tuesday, June 9th. Finally, Royal Bank Of Canada raised their price objective on PTC Therapeutics from $81.00 to $82.00 and gave the company a “sector perform” rating in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $91.36.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PTCT. Empowered Funds LLC bought a new position in shares of PTC Therapeutics during the first quarter valued at $1,999,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in PTC Therapeutics by 11.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 178,755 shares of the biopharmaceutical company’s stock worth $9,109,000 after purchasing an additional 18,504 shares in the last quarter. Quantbot Technologies LP grew its position in PTC Therapeutics by 280.1% during the 2nd quarter. Quantbot Technologies LP now owns 2,478 shares of the biopharmaceutical company’s stock valued at $121,000 after purchasing an additional 1,826 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in PTC Therapeutics during the 2nd quarter valued at about $1,661,000. Finally, EverSource Wealth Advisors LLC increased its stake in PTC Therapeutics by 247.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,143 shares of the biopharmaceutical company’s stock valued at $56,000 after purchasing an additional 814 shares in the last quarter.

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.