PTC Therapeutics (NASDAQ:PTCT) Stock: Insider Mark Elliott Boulding Sells 1,638 Shares

PTC Therapeutics, Inc. (NASDAQ:PTCT) VP Mark Boulding sold 1,638 shares of PTC Therapeutics stock in a transaction on Monday, October 5th. The stock was sold at an average price of $64.03, for a total transaction of $104,881.14. Following the sale, the vice president owned 105,272 shares of the company’s stock, valued at $6,740,566.16. The trade was a 1.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 Tuesday, October 6th, Mark Boulding sold 435 shares of PTC Therapeutics stock. The shares were sold at an average price of $64.16, for a total value of $27,909.60.
• On Monday, August 17th, Mark Boulding sold 2,813 shares of PTC Therapeutics stock. The stock was sold at an average price of $72.57, for a total value of $204,139.41.

PTC Therapeutics Trading Down 0.7%

Shares of PTCT stock traded down $0.47 during mid-day trading on Wednesday, reaching $63.23. The stock had a trading volume of 1,040,492 shares, compared to its average volume of 1,376,507. PTC Therapeutics, Inc. has a 1-year low of $61.23 and a 1-year high of $90.87. The firm has a market cap of $5.28 billion, a price-to-earnings ratio of -109.02, a PEG ratio of 1.96 and a beta of 0.49. The business’s fifty day moving average is $68.92 and its 200-day moving average is $72.02.

PTC Therapeutics (NASDAQ:PTCT) last released its earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.68. The firm had revenue of $360.52 million for the quarter, compared to analyst estimates of $298.63 million. During the same period last year, the firm earned ($0.83) EPS. The company’s revenue for the quarter was up 101.5% compared to the same quarter last year. On average, analysts forecast that PTC Therapeutics, Inc. will post 1.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

PTCT has been the subject of several recent research reports. Weiss Ratings cut shares of PTC Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, September 17th. Leerink Partners began coverage on PTC Therapeutics in a research report on Monday, September 14th. They set an “outperform” rating and a $98.00 price target on the stock. Royal Bank Of Canada reiterated a “sector perform” rating on shares of PTC Therapeutics in a research note on Wednesday. Wall Street Zen raised PTC Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 19th. Finally, Cantor Fitzgerald upped their target price on PTC Therapeutics from $130.00 to $137.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $99.08.

Institutional Investors Weigh In On PTC Therapeutics

Several hedge funds have recently modified their holdings of PTCT. Allworth Financial LP purchased a new position in shares of PTC Therapeutics in the 2nd quarter valued at about $67,000. EverSource Wealth Advisors LLC boosted its position in PTC Therapeutics by 16.9% during the first quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the biopharmaceutical company’s stock worth $71,000 after purchasing an additional 151 shares in the last quarter. Harbor Investment Advisory LLC acquired a new stake in PTC Therapeutics in the second quarter valued at approximately $81,000. Quantbot Technologies LP acquired a new stake in PTC Therapeutics in the second quarter valued at approximately $112,000. Finally, GAMMA Investing LLC increased its position in shares of PTC Therapeutics by 58.1% in the second quarter. GAMMA Investing LLC now owns 1,453 shares of the biopharmaceutical company’s stock valued at $119,000 after buying an additional 534 shares in the last quarter.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for rare diseases. Its research programs use technologies designed to address genetic and molecular causes of disease, including RNA biology, protein translation and gene therapy.

The company’s commercial portfolio includes Emflaza (deflazacort), a corticosteroid approved in the United States to treat Duchenne muscular dystrophy, and Upstaza (eladocagene exuparvovec), a gene therapy for aromatic L-amino acid decarboxylase deficiency in eligible patients.